Sterling Financial institution/Smedan Matching Fund Programme for Nigerians
The Small and Medium Enterprises Improvement Company of Nigeria (SMEDAN) in partnership with Sterling Financial institution Plc broadcasts the graduation of the SMEDAN/STERLING Financial institution Matching Fund Programme For Nano, Micro and Small Enterprises.
This intervention is to ship credit score to the sub-sector in six chosen states, as a promotional mechanism to reinforce enterprise output, competitiveness and job creation. The disbursing entity, below the programme shall be Sterling Financial institution Plc.
Programme Phrases and Eligibility Standards
i. Goal Beneficiaries Definition: Goal beneficiaries for this Programme shall be Nano, Micro and Small Enterprises (NMSES) working in the true sector with value-added agricultural merchandise.
ii. Financing out there below the programme: Potential beneficiaries could apply for financing inside the vary of N500,000 – N2.5 million.
iii. Circumstances/Phrases relevant:
A. The rate of interest relevant on all financing below this programme shall not exceed single digit every year
B. The financing tenor is for a most interval of 30 months, efficient from the date of first disbursement. That is inclusive of moratorium (which can fluctuate between 3-6 months, relying on the kind of enterprise.)
iv. Relevant Safety:
a. The applicant/Enterprise should be inside the Agribusiness worth chain (Upstream, Midstream & Downstream);
b. The applicant/Enterprise will need to have CAC registration or State permitted registration;
c. A moveable asset to be registered below the Nationwide Collateral Registry (NCR).
How one can Apply
1. Portal Opening: NMSES can apply by clicking right here.
Or by visiting the SMEDAN web site and clicking on the SMEDAN/Sterling Financial institution Matching Fund Programme icon.
As soon as migrated to the smecredits portal, pre-qualification of candidates shall start.
ii. Enterprise Plans Submission: Pre-qualified candidates shall be required to pay a processing charge of ten thousand (N10,000.00) naira for the Enterprise Plan template on the platform (Notice: A separate coaching charge will not be required).
Primarily based on the factors above, all suitably certified Nano, Micro and Small Enterprises (MSES) situated within the following states can apply:
It must be clearly understood that the particulars set out in paragraphs 2-3 above, kind the premise for contemplating the applying of certified NMSEs which shall be obtained until 25 December 2022
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