SMEDAN /Jaiz Bank Matching Fund Programme 2022 for Micro and Small Enterprises (MSES) Programme

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Introduction

As a concept, pioneered in Nigeria by Development Finance Institutions (DFIs), fund matching has since been embraced by most financial institutions for making credit/financing available to micro and small enterprises (MSEs). The strategy requires the fund matching partners (often a Financial Institution and an MSME-promoting institution/ Government) to share the risks of making funds.

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The joint programme partners – Jaiz Bank Plc and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) – hereby invites applications from all suitably-qualified micro and small enterprises (MSEs) located in Katsina, Nasarawa, Niger, Kogi, Jigawa, Bauchi, Adamawa and Gombe.

It should be clearly understood that programme particulars set out in paragraphs 1 – 3, above, form the basis for consideration of financing requests under this programme.

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Applications from qualified micro and small enterprises for facilities under this programme shall be received over a period of six (6) weeks or when the allocated quota of business plans per participating state is exhausted (whichever comes first).

The financing tenor is for a maximum period of 30 months, effective from the date of the first disbursement. This is inclusive of a moratorium (which may vary between 3 – 6 months, depending on the type of enterprise).

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Beneficiaries must complete a finance application form, sign all necessary documents with Jaiz Bank Plc, and shall also bear the cost of all approved charges (i.e. Application fee of N5,000.00  and N5,000.00 for the cost of conducting credit search on beneficiaries  on  at least  two  (2)  Credit  Bureau sites  for processing facilities which are in line with the CBN regulatory provisions and RTGS transfer charges.

These total N10,000.00 for both fees). The mandatory Agricultural Insurance cover by NAIC and also the key man Takaful insurance by a reputable Takaful company applies to all beneficiaries over the project life.

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DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.
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.
  • Keyman risk Takaful insurance cover.
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Sam Rantimi

About the Author: Sam Oluwarantimi

Interpersonal Communication Specialist & Graduate (Biology), Obafemi Awolowo University. Join me on Twitter.

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