GrantPilot does not give out this funding; Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) / Sterling Bank does. We help you find it, check it is real and get ready to apply.
A loan scheme run jointly by SMEDAN and Sterling Bank offering single-digit interest rates to registered Nigerian SMEs. You need SMEDAN registration and a track record of trading.
Single-digit interest rate loan partnership between SMEDAN and Sterling Bank providing affordable financing to registered Nigerian SMEs. Administered through SMEDAN's official portal with flexible terms and accessible underwriting criteria.
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SMEDAN registration (free, mandatory). Business must be registered with CAC or SMEDAN. Demonstrated business activity and operating history preferred. Single-digit interest rates available to qualifying SMEs.
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SMEDAN and Sterling Bank review applications through the SMEDAN portal using accessible underwriting criteria focused on your registration status, trading history, and ability to service a loan at single-digit rates. The scheme has flexible terms, so approval is not based on stringent collateral requirements alone. Processing timelines are not stated, but you should allow several weeks after submission.
What reviewers look for
No. You need to be registered with either CAC (Corporate Affairs Commission) or SMEDAN, and you must have SMEDAN registration to qualify for this loan.
The listing does not state a minimum or maximum loan amount. Contact Sterling Bank directly through SMEDAN's portal or ask during application.
Single-digit rates are available to qualifying SMEs, but the exact rate depends on your business profile and will be set during underwriting with Sterling Bank.
The sources do not state a processing timeline. Typically, loan applications take 4–8 weeks from submission to approval decision.
The listing does not state a closing date. Applications appear to be rolling, so you can apply at any time, but funds may be limited and allocated on a first-come basis.
Guide written from the official programme page on 1 November 2026. Funders change their rules, so confirm the details on the official page before you apply.
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