SMEDAN and Sterling Bank Start N5 Billion Loan for Small Business Owners

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank Ltd. have introduced a significant initiative called Databanc. This initiative, worth N5 billion, aims to support small businesses in Nigeria.

By providing loans at a single-digit interest rate, Databanc will help Nano, Micro, Small, and Medium Enterprises (NMSMEs) overcome financial challenges. This article explains the details of this program in simple English to ensure that everyone can understand and benefit from it.

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FG Directs N150,000 Govt Grant Be Given to Each MSME Owner

Vice President Kashim Shettima recently announced that President Bola Ahmed Tinubu has directed the federal government to give a grant of N150,000 to each owner of Micro, Small, and Medium Enterprises (MSMEs). This grant is aimed at supporting small business owners across Nigeria. The announcement was made during the launch of the 3rd edition of the Expanded National MSMEs Clinic in Ado Ekiti, the capital of Ekiti State.

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FG Approves NYIF N110 Billion for Youth Startups in Nigeria

The Nigerian government, under the direction of Dr. Jamila Bio-Ibrahim, Minister of Youth Development, has announced a significant financial commitment of N110 billion to support startups and early growth businesses led by youths. This initiative is part of the revised Nigeria Youth Investment Fund (NYIF).

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FG N50,000 Grant Update May 2024: Latest News

Overview of the N50,000 Grant

The Nigerian government has given N20.11 billion to 402,283 people as part of the N50,000 Presidential Conditional Grant Scheme. This grant helps small business owners grow their businesses.

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