Sterling Bank SMEDAN Matching Fund Application 2022/2023 | Application Portal for Sterling BANK/SMEDAN Matching Fund
SMEDAN and Sterling Bank Plc hereby announce the commencement of the SMEDAN/Sterling Bank Matching Fund PROGRAMME FOR NANO, MICRO, AND SMALL ENTERPRISES. 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 program, shall be Sterling Bank Plc.
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PROGRAMME TERMS AND CONDITIONS
I. 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.
ii. Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N500 Thousand-N2.5 million.
iii. Conditions/Terms applicable:
A. The interest rate applicable on all financing under this programme shall not exceed a single digit per annum.
B. The financing tenor is for a maximum period of 30 months, effective from the date of the first disbursement. This is inclusive of a moratorium (which may vary between 3 – 6 months, depending on the type of enterprise.
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iv. Applicable Security:
a. The applicant/Enterprise must be within the Agribusiness value chain (Upstream, Midstream & Downstream);
b. The applicant/Enterprise must have CAC registration or State approved registration;
c. A moveable asset to be registered under the National Collateral Registry (NCR).
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How to Apply
Portal Opening: NMSES can apply by clicking the icon smedan/sterling bank matching fund programme on the SMEDAN website
(www.smedan.gov.ng) or use this link here, once migrated to the SME credits portal, pre-qualification of applicants shall commence
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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Application Closing Date
The last date to submit your application is 25th December.
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