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ii. Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N2 million – N5 million, with enterprise modernization and/or expansion as the focus.

iii.Conditions/Terms applicable: The mark up/profit rate applicable on all financing, under this programme, shall not exceed single digit per annum.

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iii.Conditions/Terms applicable: The mark up/profit rate applicable on all financing, under this programme, shall not exceed single digit per annum.

The financing tenor is for a maximum period of 30 months, effective from the date of first disbursement.

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The financing tenor is for a maximum period of 30 months, effective from the date of first disbursement.

This is inclusive of moratorium (which may vary between 3 - 6 months, depending on the
type of enterprise).

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This is inclusive of moratorium (which may vary between 3 - 6 months, depending on the
type of enterprise).

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

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

iv. Applicable Security: In line with the conditions/provisions of this programme, processing of this facility will require fulfilment and provision of the following:

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iv. Applicable Security: In line with the conditions/provisions of this programme, processing of this facility will require fulfilment and provision of the following:

a. Provide Bank Verification Number (BVN).
b. Execute Global Standing Instruction (GSI) order.
c. NIRSAL Credit Guaranty Cover.

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a. Provide Bank Verification Number (BVN).
b. Execute Global Standing Instruction (GSI) order.
c. NIRSAL Credit Guaranty Cover.

d. A moveable asset to be registered under the National Collateral Registry (NCR), in line with CBN policy for facility/financing above N500,000.00.

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d. A moveable asset to be registered under the National Collateral Registry (NCR), in line with CBN policy for facility/financing above N500,000.00.

e. Key man risk Takaful insurance cover.

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e. Key man risk Takaful insurance cover.

3. PROGRAMME IMPLEMENTATION MODALITIES
To facilitate inclusiveness and transparency, under the programme, thehereunder are the approved, step-wise, implementation modalities for all applicants.

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3. PROGRAMME IMPLEMENTATION MODALITIES
To facilitate inclusiveness and transparency, under the programme, thehereunder are the approved, step-wise, implementation modalities for all applicants.

i. Portal Opening: This shall be done via a public notice placed in selected national dallies to invite all suitably qualified MSEs to apply
by clicking the icon jaizbank/smedanmatchingfundprogramme on
the SMEDAN website (www.smedan.gov.ng). Once migrated to the
smecredits portal, pre-qualification of applicants shall commence.

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i. Portal Opening: This shall be done via a public notice placed in selected national dallies to invite all suitably qualified MSEs to apply
by clicking the icon jaizbank/smedanmatchingfundprogramme on
the SMEDAN website (www.smedan.gov.ng). Once migrated to the
smecredits portal, pre-qualification of applicants shall commence.

ii. Pre-qualification of Applicants: This takes the form of soliciting binary (i.e. Yes/No) responses to a number of fields to confirm the
applicant’s suitability for the facility.

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ii. Pre-qualification of Applicants: This takes the form of soliciting binary (i.e. Yes/No) responses to a number of fields to confirm the
applicant’s suitability for the facility.

Disqualified applicants cannot proceed beyond this stage.

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Disqualified applicants cannot proceed beyond this stage.

iii. Business Plans Submission: To continue, pre-qualified applicants shall be required to pay a processing fee of ten thousand (N10,000.00) naira for the Business Plan template on the platform (Note that a
separate training fee is not required).

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iii. Business Plans Submission: To continue, pre-qualified applicants shall be required to pay a processing fee of ten thousand (N10,000.00) naira for the Business Plan template on the platform (Note that a
separate training fee is not required).

Also, note that a number of
Business Plan slots shall be allocated to each participating state.

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Also, note that a number of
Business Plan slots shall be allocated to each participating state.

Consequently, entries for such state shall cease when the required number is met.

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Consequently, entries for such state shall cease when the required number is met.

iv. Business Plans Evaluation It shall be the responsibility of SMEDAN, using approved in-house criteria, to shortlist business plans for field validation.

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iv. Business Plans Evaluation It shall be the responsibility of SMEDAN, using approved in-house criteria, to shortlist business plans for field validation.

Such criteria shall include the following, bankability of business plans; equitable distribution of prospective beneficiaries;
gender balance.

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Such criteria shall include the following, bankability of business plans; equitable distribution of prospective beneficiaries;
gender balance.

v. Field Validation Visits/Referral to Jaiz Bank: Field visits shall be carried out to all shortlisted MSEs, from the preceding stage.

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v. Field Validation Visits/Referral to Jaiz Bank: Field visits shall be carried out to all shortlisted MSEs, from the preceding stage.

Validated MSEs from this process shall then be referred to Jaiz Bank.

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Validated MSEs from this process shall then be referred to Jaiz Bank.

vi. Due Process/Confirmation of Final Beneficiaries: This shall be based on Jaiz Bank Plc Financing Risk Assets Acceptance Criteria
(RAAC), as suitably modified for this programme.

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vi. Due Process/Confirmation of Final Beneficiaries: This shall be based on Jaiz Bank Plc Financing Risk Assets Acceptance Criteria
(RAAC), as suitably modified for this programme.

Jaiz Bank Plc shall
thereafter inform all successful applicants, with guidance on next steps.

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Jaiz Bank Plc shall
thereafter inform all successful applicants, with guidance on next steps.

vii. Refresher Training of Selected Beneficiaries: All selected beneficiaries shall receive refresher entrepreneurship training, at no extra cost, by SMEDAN, as a condition to draw-down.

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vii. Refresher Training of Selected Beneficiaries: All selected beneficiaries shall receive refresher entrepreneurship training, at no extra cost, by SMEDAN, as a condition to draw-down.

viii. Opening of Bank Accounts: All successful applicants shall open (and operate) accounts with the Jaiz Bank Plc branch nearest to their
project location.

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viii. Opening of Bank Accounts: All successful applicants shall open (and operate) accounts with the Jaiz Bank Plc branch nearest to their
project location.

The required 10% lien deposit shall thereafter be paid into their accounts by SMEDAN, prior to draw-down.

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The required 10% lien deposit shall thereafter be paid into their accounts by SMEDAN, prior to draw-down.

ix.Financing Disbursement/On-field Repayment and Advisory Services: Finance disbursement shall be by Jaiz Bank Plc in line with its non-interest model of financing, and shall also commence recovery at the end of the advised moratorium.

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ix.Financing Disbursement/On-field Repayment and Advisory Services: Finance disbursement shall be by Jaiz Bank Plc in line with its non-interest model of financing, and shall also commence recovery at the end of the advised moratorium.

SME, on its part, shall carry out quarterly advisory visits to beneficiaries, during this period.

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SME, on its part, shall carry out quarterly advisory visits to beneficiaries, during this period.

Small and Medium Enterprises
Development Agency of Nigeria,
Jaiz Bank Plc,
Kano House,Ralph Shodeinde
Str.
CBD, Abuja.

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Small and Medium Enterprises
Development Agency of Nigeria,
Jaiz Bank Plc,
Kano House,Ralph Shodeinde
Str.
CBD, Abuja.

www.jaizbankplc.com
Email: info@jaizbankplc.com

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www.jaizbankplc.com
Email: info@jaizbankplc.com

..FOR A BETTER LIFE CALL FOR PARTICIATION: The joint programme partners – Jaiz Bank Plc and Small and Medium Enterprises of Nigeria.

Seeing the above opportunities opening to SME business owners, you would agree with me that having a small scale business thriving in Nigeria can take more than just hardwork but with needful funding and support.

Especially if your business line is not in the fast moving consumable goods with a brand & business recognition.