How to Apply For Jaiz Bank / SMEDAN Matching Fund Program 2022

This is to inform the general public that the JAIZ Bank and SMEDAN Matching Fund programme application form and registration portal is now open and is accepting application from suitably qualified applicants for the JAIZ/SMEDAN Fund Loans 2022

Do you need steps on how to apply for the JAIZ Bank SMEDAN funds/loan? Are you a businessman/woman and wish to acquire funds to expand your business?

About JAIZ SMEDAN Matching Funds

• Fund matching, a concept pioneered by Development Finance Institutions (DFIs) in Nigeria, has since been adopted by other financial institutions as a means of making credit and finance available to micro and small businesses (MSEs). The fund matching partners (usually a financial institution and an MSME-promoting institution/government) must share the risks of raising money under the plan.
• It should be obvious that the program specifics outlined in paragraphs 1–3 above serve as the foundation for considering funding requests under this program.
• Applications for facilities under this program from qualifying micro and small firms will be accepted for a period of six (6) weeks or until the authorized quota of business plans per participating state is exhausted (whichever comes first).
• The financing duration is for a maximum of 30 months, beginning with the first disbursement date. This includes a moratorium (which can last anywhere from 3 to 6 months, depending on the type of business).

Beneficiaries must fill out a finance application form, sign all necessary documents with Jaiz Bank Plc, and pay all approved charges (including a N5, 000.00 application fee and N5,000.00 for the cost of conducting a credit search on beneficiaries on at least two (2) Credit Bureau sites for processing facilities in accordance with CBN regulatory provisions, as well as RTGS transfer fees).

For both fees, the total is N10, 000.00. All beneficiaries are covered by NAIC’s obligatory Agricultural Insurance and a reputed Takaful company’s key man Takaful insurance for the duration of the project.

Requirement for the Smedan Matching Funds Application 2022

Security that is applicable: Processing of this facility will necessitate the fulfilment and provision of the following items in accordance with the conditions/provisions of this program:

• Give your bank’s verification number (BVN).
• Execute the order for a Global Standing Instruction (GSI).
• Credit Guaranty Coverage from NIRSAL.
• In accordance with CBN policy for facilities/financing above N500, 000.00, a moveable asset must be registered with the National Collateral Registry (NCR).
• Keyman risk Takaful insurance cover.

Click Here To Apply

For further information, please visit: Visit the smedan/jaiz bank matching fund program 2022 (CLICK HERE) for micro and small enterprises (MSES) website for more information.

Related