SMEDAN/Sterling Bank N5 Billion Loan For MSMEs – Access Loan Now

SMEDAN/Sterling Bank

Are you looking for a loan to apply for? This article is for you, all you just need to do is go through it and apply for SMEDAN, Sterling Bank partner on N5bn loans for SMEs.

We want to let you know that the Small and Medium Enterprises Development Agency of Nigeria, known as SMEDAN, has partnered with Sterling Bank to offer a loan facility worth up to N5 billion to small businesses in Nigeria.

SMEDAN/Sterling Bank Grant: the application is now open for the 2023 SMEDAN/Sterling Bank and you be be able to get upto SMEDAN/Sterling Bank N5 Billion Loan For MSMEs Fund for Micro and Small Enterprises.

One thing that you have to consider is that all small and micro business entrepreneurs are encouraged to apply for the SMEDAN/Sterling Bank grant.

So it is very clear that you’ll have to apply via the Apply Button at the bottom of this page.

Read Also: FG Begins SMEDAN ₦1.5m Loan – Apply Here

SMEDAN Matching Fund Program Overview

For those that are willing to apply, kindly make sure that you read through this page as we give you the full details on how to go about it.

Launched in partnership with Sterling Bank Plc, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is happy to announce the SMEDAN/STERLING Bank Matching Fund Program for Nano, Micro, and Small Enterprises.

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has joined forces with Sterling Bank to offer a significant N5 billion loan for Micro, Small, and Medium Enterprises (MSMEs). Here’s how you can apply and take your business to the next level!

So you will understand that the intervention aims:

  • To provide credit to the sub-sector in six selected states
  • Serves as promotional mechanism to increase enterprise output
  • Increase competitiveness and job creation.
  • Finally, Sterling Bank Plc will be the program’s disbursing entity.

Brief Program Details

Sponsor(s): SMEDAN/Sterling Bank

Type: Entrepreneur

Value: 5 Billion Grant

State of Origin: All States

Application Deadline: 

Full Benefits of SMEDAN/Sterling Grant

Financing available under the program: Prospective beneficiaries may apply for financing within the range of N5 Billions

See Also: NEXIM Loan Portal Reopens For New Application – How To Apply

Requirements for SMEDAN/Sterling Bank Matching Fund Program

Target Beneficiaries Definition: The program’s target beneficiaries are Nano, Micro, and Small Enterprises (NMSES) that provide value-added agricultural goods and operate in the real sector.

Conditions/Terms applicable:

  • All funding under this program will have interest rates that don’t go above a single digit per year.
  • The financing duration is valid from the date of the first disbursement for a maximum of thirty months.
  • This includes a moratorium, which, depending on the kind of business, might last anywhere from three to six months.

Applicable Security:

  • The applicant or enterprise must be a part of the upstream, midstream, and downstream segments of the agribusiness value chain;
  • It must be registered with the CAC or have a state-approved registration;
  • An item that can be moved and is registered with the National Collateral Registry (NCR).

How to Apply

Interested and qualified business owners should apply via the Apply Button below.

  1. Visit the SMEDAN Loan Application Form at this link: https://www.smedan.gov.ng/smedansterling
  2. Fill out the form with your business details.

Steps

Click on the apply button

Click on signup

Login

Begin your application

Submit.

Make sure your application is correct by include all required information.

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