Sterling Bank partners with SMEDAN to empower SMEs in the agricultural sector

Sterling Bank Plc, in partnership with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), has initiated a matching fund program for agriculture-based Nano, Micro and Small Enterprises (NMSE).

In a statement signed by SMEDAN’s Head of Corporate Affairs, Ibrahim Kaula, Director General Olawole Fasanya confirmed that the intervention was to extend credit to the sub-sector in six selected states of Anambra, Bayelsa, Delta, Ebonyi, Ekiti and Osun.

The program, he said, is a promotion mechanism to improve business production, competitiveness, job creation and the paying entity. Under the program will be Sterling Bank Plc.

It identified Nano, MSMEs that operate in the real sector with value-added agricultural products as the target beneficiaries of the program. Potential beneficiaries can apply for funding within the range of N500,000 and N2.5 million.

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