The Fund is a Federal Government of Nigeria initiative to provide subsidized loans to SMEs at single digit (9% per annum) all-inclusive interest rate. The Fund is also to cater for applications received from SMEDAN under the National Enterprise Development Programme (NEDEP) Scheme.
The Fund is aimed at stimulating economic activity in the SME sub-sector being the major drivers of industrialization, wealth and job creation.
The fund is to be utilized for SMEs engaged in manufacturing and agro-processing businesses with an emphasis on value addition to local raw materials.
9% per annum (all inclusive)