SMEDAN begins ₦1.5m Loan Disbursement
SMEDAN begins ₦1.5m Loan Disbursement.
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with Jaiz Bank Plc has commenced disbursement of proposed Matching Funds to boost the capacity of the micro and small enterprises (SMEs) in the country..
Only applicants from four states – Gombe, Nassarawa, Niger and Jingawa – who must have registered with SMEDAN are qualified for the non-interest loans, ranging from N1.2 million to N5 million.
The Matching Funds initiative, which began early this year with the opening of the programme portal, is an intervention meant to deliver credit to the sub-sector for enhanced output, competitiveness and job creation.
Director-General of SMEDAN, Dr.Dikko Radda, who dropped the hint, yesterday, said the collaboration is determined to fully implement the programme for the benefit of Nigerians.
“Target beneficiaries of the programme shall be labour-intensive SMEs operating in the real sector, these shall be innovative value-added products that are establishing footprints in the Nigerian market and require additional funds to increase outputs,” Radda said.