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SMEDAN Sterling Bank Matching Fund Programme 2022/2023

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SMEDAN Sterling Bank Matching Fund Programme 2022/2023 – You can now successfully apply for the 2022/2023 SMEDAN Sterling Bank Matching Fund Programme using the information provided on this page.

SMEDAN Sterling Bank Matching Fund Programme 2022/2023

SMEDAN in conjunction with Sterling Bank Plc have announced the commencement of the SMEDAN/Sterling Bank Matching Fund Programme for Nano, Micro and Small Enterprises in Nigeria.

This intervention is to deliver credit to the sub-sector in six selected States, as a promotional mechanism to enhance enterprise output, competitiveness and job creation. The disbursing entity, under the programme shall be Sterling Bank Plc.

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Programme Terms and Conditions:

  • Target Beneficiaries Definition: Target beneficiaries for this Programme shall be Nano, Micro and Small Enterprises (NMSEs) operating in the real sector with value-added agricultural products.
  • Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N5OO Thousand to N2.5 million.

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 first disbursement. This is inclusive of 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).

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Application Closing Date: 25th December 2022

Call For Participation:

The joint programme partners, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank Plc hereby invite applications from all suitably-qualified Nano, Micro and Small Enterprises (MSEs) located in the following state:

  1. Anambra
  2. Bayelsa
  3. Delta
  4. Ebonyi
  5. Ekiti
  6. Osun.

How to apply for SMEDAN Sterling Bank Matching Fund Programme 2022/2023

  1. Portal Opening: NMSEs can apply by visiting (www.smedan.gov.ng), or click this link https://smecredits.com.ng/dist/index.php where pre-qualification of applicants shall commence.
  2. Business Plans Submission: Pre-qualified applicants shall be required to pay a processing fee of ten thousand (N10,000 00) Naira for the Business Plan template on the platform (Note: A separate training fee is not required)

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