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  Sterling Bank, in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has launched a N5 billion loan program to drive Nigeria’s business growth.
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The single-digit interest rate loan is targeted at providing financial support and expansion for small and medium enterprises (SMEs) in Nigeria. The Sterling Bank and SMEDAN partnership has created a comprehensive database for SMEs to gain access to financial solutions and intervention initiatives. It is a formidable partnership aimed at boosting Nigeria’s economic growth and development by enhancing job creation.
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To be eligible for the program:

  1. Applying businesses must be registered with the Corporate Affairs Commission.
  2. Businesses applying must have been in operation for at least 18 months.
  3. Applicants must have a clean credit record.
  4. Specialized businesses such as healthcare facilities, petrol stations, haulage companies, firearms and armoury businesses, and haulage businesses are excluded from the program.

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Some of the benefits of applying for the program include:

  1. Access to a single-digit interest rate loan is a cost-effective and good financing option for SMEs.
  2. Flexible terms of repayment.
  3. The application process is completely digital and collateral-free.
  4. Expert advice and support from SME specialists at Sterling Bank.
Click HERE to apply.
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This article was first published on 22nd June 2024 and updated on June 24th, 2024 at 10:36 am


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