Sterling Bank Plc – SMEDAN Matching Fund Application 2024 | Application Portal, Requirements and How to Apply for Sterling BANK/SMEDAN Matching Fund
Interested and eligible Nigerians are hereby invited to submit their application for the Sterling Bank Plc/Small and Medium Enterprises Development Agency of Nigeria(SMEDAN) Matching Fund Programme for Nano, Micro, and Small Enterprises (NMSEs) Program 2024. If you wish to apply for the fund, read the information here carefully and follow all steps.
Read also: BOA-SMEDAN Matching Fund
About Sterling BANK/SMEDAN Matching Fund
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in partnership with Sterling Bank Plc, has commenced a matching fund programme for agro-based Nano, Micro, and Small Enterprises (NMSEs).
The aim of this intervention is to deliver credit to the sub-sector in six selected states in Anambra, Bayelsa, Delta, Ebonyi, Ekiti, and Osun. The programme is a promotional mechanism to enhance enterprise output, competitiveness, and job creation, and the disbursing entity, under the program will be Sterling Bank Plc.
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Terms and Conditions of the Program
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 program 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).
Who is Eligible to Apply for Sterling Bank / SMEDAN Matching Fund
Only candidates within these categories who meet the criteria are allowed to submit their application for this program;
a. 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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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)
How Much Can you Apply for?
All eligible candidates can apply for a N250,000 to N2.5 Million Naira loan and repay with a single interest rate.
How to Apply
Interested and eligible candidates for the Sterling Bank Plc SMEDAN Matching Fund, are to submit their application forms online via the Smedan application portal here or https://www.smedan.gov.ng/smedansterling/ before the application deadline stated below.
Application Deadline
The deadline to submit your application is 25th December 2022.
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