SMEDAN/Sterling Bank N500k to N2.5M Matching Fund for Micro/Small Enterprises

Matching Fund Program for Micro and Small Enterprises

SMEDAN/Sterling Bank Grant: The application is open for the 2022 SMEDAN/Sterling Bank N500k to N2.5M Matching Fund for Micro and Small Enterprises.

All small and micro business entrepreneurs are encouraged to apply for the SMEDAN/Sterling Bank grant. Apply via the Apply Button at the bottom of this page.

SMEDAN Matching Fund Program Overview

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in collaboration with Sterling Bank Plc, is pleased to announce the launch of the SMEDAN/STERLING Bank Matching Fund Program for Nano, Micro, and Small Enterprises.

This intervention aims to provide credit to the sub-sector in six selected states as a promotional mechanism to increase enterprise output, competitiveness, and job creation. Sterling Bank Plc will be the program’s disbursing entity.

Brief Program Details

Sponsor(s): SMEDAN/Sterling Bank

Type: Entrepreneur

Value: 500K – 2.5 Million Grant

State of Origin: Anambra, Bayelsa, Delta, Ekiti, Osun

Application Deadline: 25 December 2022

Full Benefits of SMEDAN/Sterling Grant

Financing available under the program: Prospective beneficiaries may apply for financing within the range of N500,000 – N2.5 million.

Also Apply: 5 – 15 Million Naira Zenith Bank Startup Pitch Competition 2022

Requirements for SMEDAN/Sterling Bank Matching Fund Program

Target Beneficiaries Definition: Target beneficiaries for this Program shall be Nano, Micro, and Small Enterprises (NMSES) operating in the real sector with value-added agricultural products.

Conditions/Terms applicable:

• The interest rate applicable on all financing under this programme shall not exceed single digit per annum
• The financing tenor is for a maximum period of 30 months, effective from the date of the first disbursement. This includes a moratorium (which may vary between 3-6 months, depending on the type of enterprise.)

Applicable Security:

• The applicant/Enterprise must be within the Agribusiness value chain (Upstream, Midstream & Downstream);
• The applicant/Enterprise must have CAC registration or State approved registration;
• A moveable asset to be registered under the National Collateral Registry (NCR).

How to Apply

Interested and qualified business owners should apply via the Apply Button below.

Steps

Click on the apply button

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Ensure your application rightly by providing all necessary requirements

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Visit the SMEDAN Official Website for More Information