If you’ve applied, SMEDAN has started sending mail notifications to applicants. Check your mailbox for a response from the team.
Charles Odii, the Director General of SMEDAN, highlighted the issue of inadequate dissemination of information about government intervention programs, hindering small enterprises’ access to funds. During the signing ceremony with Sterling Bank, Odii mentioned that poor information distribution left nearly N500 million unutilized with only six beneficiaries in one bank.
To address this challenge, SMEDAN secured a N5 billion loan portfolio aimed at supporting over 10,000 Small and Medium Enterprises (SMEs) across Nigeria. The collaboration with Sterling Bank aims to provide loans ranging from N250,000 to N2.5 million at a single-digit interest rate.
Businesses meeting specific criteria can apply for funds between #250,000 to #2,500,000. Successful repayment qualifies these MSMEs for higher sums to aid business growth or expansion.
For those interested in applying, you can check the application process at this link: [SMEDAN-Sterling Bank Loan Application
Application requirements include CAC registration, business records, Nigerian business presence, and potential for job creation.
For additional details, visit the SMEDAN Sterling Bank Loan portal, and contribute to the Economic Advancement for Nigeria.
