SMEDAN/JAIZ BANK MATCHING FUND PROGRAMME 2022 FOR MICRO AND SMALL ENTERPRISES (MSES) PROGRAMME
INTRODUCTION
As a concept initiated by Development Finance Institutions (DFIs) in Nigeria, most financial institutions have used fund matching to provide credit / financing to micro and small enterprises (SMEs). The strategy requires matching partners (often a financial institution and an SME promotion organization / government) to share the risk of raising funds.
The partners in the joint program, Jazz Bank Plc and the Nigerian Agency for the Development of Small and Medium-sized Enterprises (SMEDAN), are invited to apply from all eligible micro and small enterprises (SMEs) based in Katsina, Nasrava, Nigeria, Kogi, Jigawa, Bauchi, here’s “Give.” Admava and Gombe.
It should be made clear that the detail of the program described in paragraphs 1 to 3 is the basis for the examination of financial applications under this program.
Applications for eligible micro and small enterprises under this program will be received within six (6) weeks or at the end of the business plan quota per partner country, whichever is earlier.
The financial term shall not exceed 30 months from the date of the first distribution. This includes a morgue (which can vary from 3 to 6 months depending on the type of business).
Beneficiaries must complete the Financial Application Form, sign all required documents with Jaiz Bank Plc and pay NP 000.00 for all approved costs (eg credit search costs for at least two beneficiaries and an application fee of N5 000.00). will also cover (2) Credit bureau websites for processing facilities under CBN regulatory arrangements and RTGS transfer costs.
Total N10 000.00 for both of these taxes).
All beneficiaries of the project’s lifetime are also subject to compulsory agricultural insurance, which is insured by the NAIC, and Takaful’s basic insurance from a reputable company, Takaful.
Applicable Security: In line with the conditions/provisions of this programme, processing of this facility will require fulfilment and provision of the following:
- 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.
- Key man risk Takaful insurance cover.
APPLY HERE: https://smecredits.com.ng/bus_inf.php
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