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JAIZ Bank PLC And SMEDAN Matching Fund programme 2022/2023

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JAIZ Bank PLC And SMEDAN Matching Fund programme- The joint programme partners – Jaiz Bank Plc and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) – are inviting applications from all suitably-qualified micro and small enterprises (MSEs) located in the following State in Nigeria to apply for the Matching Fund programme 2022.

  1. Katsina State
  2. Nasarawa State
  3. Niger State
  4. Kogi State
  5. Jigawa State
  6. Bauchi State
  7. Adamawa State
  8. Gombe State

It should be clearly understood that programme particulars set out in paragraphs 1 – 3, above, form the basis for consideration of financing requests under this programme. Applications from qualified micro and small enterprises for facilities under this programme shall be received over a period of six (6) weeks or when the allocated quota of business plans per participating state is exhausted (whichever comes first).

How To Apply for JAIZ Bank PLC And SMEDAN Matching Fund

All interested applicants should apply via https://smecredits.com.ng/bus_inf.php

Note that to fill the application form, you will have to click outside the white pop-up page while on the application link above.

Programme Terms And Conditions

The here-under definitions, terms and conditions shall apply under the Programme, viz:

i. Target Beneficiaries Definition: Target beneficiaries for this Programme shall be labour intensive, micro or small enterprises (MSEs), operating in the real sector. These shall ideally be innovative value-added, agri-business products that are establishing footprint in the Nigerian market, and require additional funds to increase output.

Qualified enterprises shall also be utilizing local raw materials (at least 65%); are regulatory compliant and capable of generating employment for at least 2 – 5 additional persons as a result of the facility obtained.

Finally, in tine with current emphasis for back-to-back value-chain financing, agribusiness on-farm/ware-housing enterprises shall also be considered.

ii. Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N2 million N5 million, with enterprise modernization and/or expansion as the focus.

iii. Conditions/Terms applicable: The mark up/profit 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 first disbursement. This is inclusive of moratorium (which may vary between 3 – 6 months, depending on the type of enterprise).

Beneficiaries must complete a finance application form, sign all necessary documents with Jaiz Bank Plc, and shall also bear cost of all approved charges (i.e. Application fee of N5,000.00 and N5,000.00 for cost of conducting credit search on beneficiaries on at least two (2) Credit Bureau sites for processing facilities which is in line with the CBN regulatory provisions and RTGS transfer charges. These total N10,000.00 for both fees).

The mandatory Agricultural Insurance cover by NAIC and also the key man Takaful insurance by a reputable Takaful company applies to all beneficiaries over the project life.

iv. Applicable Security: In line with the conditions/provisions of this programme, processing of this facility will require fulfilment and provision of the following:

a. Provide Bank Verification Number (BVN).

b. Execute Global Standing Instruction (GSI) order.

c. NIRSAL Credit Guaranty Cover.

d. A moveable asset to be registered under the National Collateral Registry (NCR), in line with CBN policy for facility/financing above N500,000.00.

e. Key man risk Takaful insurance cover.

How to Apply for JAIZ/SMEDAN Matching Fund

For further information, kindly check the Smedan Matching Fund Advert page

We are willing to assist you in any way we can, kindly subscribe to this website using your email for faster response from our team. Subscription is totally free.

READ- COUNTRIES YOU CAN TRAVEL TO WITHOUT VISA 2022/2023

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