JAIZ BANK PLC-SMEDAN Matching Fund Application 2025 | Application Portal, Requirements and How to Apply for JAIZ BANK/SMEDAN Matching Fund
Interested and eligible Nigerians are hereby invited to submit their application for the JAIZ BANK PLC/Small and Medium Enterprises Development Agency of Nigeria(SMEDAN) Matching Fund Programme for Micro and Small Enterprises (MSEs) Program 2022. If you wish to apply for the fund, read the information here carefully and follow all steps.
About the Jaiz Bank PLC-SMEDAN Matching Fund
As a concept, pioneered in Nigeria by Development Finance Institutions (DFIs), fund matching has since been embraced by most financial institutions for making credit/financing available to micro and small enterprises (MSEs). The strategy requires the fund matching partners (often a Financial Institution and an MSME-promoting institution/Government) to share the risks of making funds available to target MSEs – usually at concessionary rates over the medium-term (tenor). Consequently, desirous of building synergy on this very important aspect of their respective mandate SMEDAN and Jaiz Bank Plc hereby announce the commencement of the JAIZ/SMEDAN MATCHING FUND PROGRAMME FOR MICRO AND SMALL ENTERPRISES. This intervention is to deliver credit, to the sub-sector, as a promotional mechanism to enhance enterprise output, competitiveness, and job creation. The disbursing entity, under the program, shall be Jaiz Bank.
You may recall that in line with the above concept, BOA/SMEDAN matching fund was launched in 2021 with multiple beneficiaries emerging from the program, and here is a fresh opportunity for more Nigerians to key into the SMEDAN matching fund to get finance to grow their business.
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Targeted Beneficiaries
The target beneficiaries for this program are labor-intensive, micro or small enterprises (MSEs), operating in the real sector. These are innovative value-added, agri-business products that are establishing a footprint in the Nigerian market, and require additional funds to increase output.
Qualified enterprises shall also be utilizing local raw materials (at least 65%); that are regulatory-compliant and capable of generating employment for at least 2 – 5 additional persons as a result of the facility obtained. Finally, in line with the current emphasis for back-to-back value-chain financing, agri-business on-farm/warehousing enterprises shall also be considered.
How Much Can You Apply for?
Interested and eligible beneficiaries may apply for financing within the range of N2 million– N5 million, with enterprise modernization and/or expansion as the focus.
Funding Duration
The financing tenor for this fund is a maximum of 30 months, effective from the date of the first disbursement. This includes the moratorium period which may vary between 3 – 6 months, depending on the type of enterprise.
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Requirements
- Beneficiaries must complete a finance application form, sign all necessary documents with Jaiz Bank Plc, and shall also bear the cost of all approved charges. This includes an application fee of N5,000.00 and N5,000.00(N10,000) for the cost of conducting credit searches 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.
- Provide Bank Verification Number (BVN).
- Execute Global Standing Instruction (GSI) order.
- NIRSAL Credit Guaranty Cover.
- A moveable asset to be registered under the National Collateral Registry (NCR), in line with CBN policy for facility/financing above N500,000.00.
- Keyman risk Takaful insurance cover.
Note that this fund is only open to Nigerians in these states; Katsina, Nasarawa, Niger, Kogi, Jigawa, Bauchi, Adamawa, and Gombe
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How to Apply for JAIZ BANK PLC-SMEDAN Matching Fund Application 2022/2023
Interested and eligible persons should submit their application form online via the official application portal using this link here. Further information can be found here.
Application Deadline
No deadline is stated for the application.