FG Begins SMEDAN ₦1.5m Loan – See How To Apply & Get Loan Now

FG Begins SMEDAN ₦1.5m Loan

When you think of getting a loan from the Federal Government, what comes into your mind is whether the loan will work out or not.

The purpose of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Jaiz Bank Plc financing initiative is to expand the capacity of micro and small enterprises (MSEs) in the country. The initiative was launched in early 2018.

Dr. Dikko Umaru Radda, the Director-General and Chief Executive Officer of SMEDAN, stated in a statement issued by the Agency’s Corporate Affairs Division in Abuja that both organizations are committed to seeing this project through to completion in the best interests of MSMEs in Nigeria.

He clarified that the Matching Fund initiative, which opened its portal to the public on February 22, 2022, is a promotional intervention aimed at increasing enterprise output, competitiveness, and job creation.

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He also announced that the program’s disbursing entity will be Jaiz Bank Plc, the Agency’s most recent initiative partner.

The primary agricultural and warehousing operators will be given consideration, according to SMEDAN, and labor-intensive micro or small enterprises (MSEs) that generate value-added products are the intended beneficiaries.

He consequently released a call for applications for the program, which is now open to all SMEs in Katsina, Kogi, Bauchi, and Adamawa who meet the necessary qualifications.

As long as they are registered with SMEDAN, prospective recipients may apply for financing between N1.2 million and N5 million, Radda said, and the terms of the financing are favorable to businesses.

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