BOA-SMEDAN Matching Fund Programme
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Bank of Agriculture (BOA), desirous of building synergy in key areas of their respective mandate, have jointly scheduled an intervention – Smedan Matching Fund Programme for MSEs – to boost the output of micro and small enterprises (MSEs) across the country.
A press statement issued by the Corporate Affairs Unit of the Agency, in Abuja, quoted the Director General/Chief Executive Officer of SMEDAN, Dr. Dikko Umaru Radda, as saying the two agencies are committed to the successful implementation of the programme in the interest of Nigeria’s MSEs.
“Target beneficiaries for this programme shall be labour-intensive micro or small enterprises (MSEs), operating in the real sector. These shall ideally have innovative value-added products that are establishing footprint in the Nigerian market, and require additional funds to increase output,” the Director General said.
Prospective beneficiaries who must be registered with SMEDAN (note that free registration is still on-going), (Register your business with smedan by clicking here)
Applicants may apply for loans within the range of N1.2 million to N5 million on business–friendly terms. The latter includes waiver of collateral. Applications from all suitably-qualified MSEs located in the Federal Capital Territory (FCT), Kaduna and Oyo states to apply for the programme.
He said the Matching Fund initiative which will commence on Tuesday, 15th December, 2020, with the opening of the programme portal is a promotional intervention meant to deliver credit to the sub-sector, with triple objectives of enhancing enterprise output, competitiveness and jobs creation. He also stated that the disbursing entity, under the programme, shall be the Bank of Agriculture Ltd (BOA).
To apply visit https://www.simplifiedcredit.net/matching-fund/screening
For more Information: Visit the webpage for Smedan Matching Fund Programme
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