Expression of Interest (EOI) on Microcredit Loan Scheme
A Call for Proposals from Micro, Small and Medium Enterprises (MSMEs), Self Help Groups and Co-operative Organizations
Background
Ibom Enterprise Development Schem (IBEDS) is an intervention program designed by Akwa Ibom State Government for the sole purpose of invigorating our state economy. The scheme will revitalize and real sector and create synergy among our entrerprises.
A master Plan for our productive sector has been developed in sync with Micro Finance Banks (MFBs) and a dynamic fund disbursement structure has been set up.
The main purpose of the scheme is to institute a vibrant and flexible Micro, Small and medium Scale industrial sector which will ensure the dependability, viability and sustainability of our productive sector. In a nutshell, the scheme seeks to lay at foundation for industrialization
The scheme is in collaboration with UNIDO, Bank of Industry (BOI) and SMEDAN.
2. Objectives
To help build vibrant micro, small and medium scale enterprise industries in Akwa Ibom State
To create enabling environment for linkages with a view to adding values to products
To assist in products marketing and export
To stimulate economic growth, create employment opportunities and alleviate poverty amongst our people.
3. Activities Eligible for Loan
This call is aimed at scaling up existing business on ground both in services and productive areas though more emphasis will be laid on productive ventures.
Eligible activities may include, but are not limited to the following sectors.
- Food and Beverages
- Base Metal (including Iron and Steel)
- Wood and Allied steel products
- Chemical and Pharmaceuticals
- Textile, leather and Wearing Apparels
- Electrical and Electronics
- Domestic and industrial Plastics Foam and Rubber
- Non Metallic Materials
- Motor Vehicle and miscellaneous Assembly
4. Eligibility Criteria for Loan Under Ibom Enterprise Development Scheme
This call for proposals is directed at MSMEs/Self help group/cooperative that are able to meet all the following criteria:
(a) Micro Enterprise
(i) Operate within Akwa Ibom State
(ii) Must have been registered with Corporate Affairs Commission or State Agencies
(iii) Must have been in existence for 1 month
(iv) individual must be member with a registered cooperative or self held group
(v) Must submit their proposals before the deadline in two (2) copies using the standard format from scheme
(b) Small and Medium Enterprises (SMEs)
(i) operate within Akwa Ibom State
(ii) Must have been registered with Corporate Affairs Commission or State Agencies
(iii) Must have been in existence for 6 months
(iv) must submit their proposals before the deadline in two (2) copies using the standard format from scheme.
5. Proposal
Scheme will give loans to proposals from small and medium Enterprise to a ceiling of N10,000,000.00 and to a ceiling of N100,000.00 for Micro Enterprise.
The proposal formats are available at
(1) IBEDS Secretariat
Ministry of Commerce and Industry
Block
Idongesit Nkaga Secretarat
Uyo.
2. All Local Government council Secretariate
3. Micro Finance Banks; prospects, Active Point, Gufax, Sapphire, Ini, Uniyyo, Plam Coast, Brooks, Prudential, Nsehe, Edct and Akwa Saving.
6. Collaterals/Moratorium
The Ibom Enterprise Development Scheme will demand the following a guarantee from SMEs and MEs for the loan disbursed:
a) Micro-Enterprise: Scheme will demand group guarantee without moratorium period
b) Small and Medium Enterprise: IBEDs will demand some equity, collasteral from beneficiaries. Moratorium period varies according to incubation period as will be specified in Memorandum of understanding (MOU).
7. Proposal Evaluation Process
There will be 4 major stages of evaluation: Desk Review, Technical Review, Selection and Verification
a) Desk Review: This is the elimination stage. Any proposals that fails to meet all of the eligibility criteria listed in MEs and SMEs will be eliminated
b) Technical Review: Once the Eligibility criteria have been met MSMEs proposals will be rank using the following four (4) criteria:
(i) Merit of Proposal
(ii) Area of activity
(iii) Geographical consideration
d) Verification: There will be a site evaluation of the shortlisted beneficiaries to ascertain validity of claims in proposals.
8. For further information: Please contact
(a) Chairman, IBEDS
IBEDS Secretariat
Ministry of Commerce and Industry
Block 5
Idongesit Nkanga Secretariat, Uyo.
b) MFBS Listed above.
9. Submission of Proposals
Applicants should submit only one proposal per organization. All proposals (Hard and Electronic forms) should be submitted on or before 21st to 28th March, 2011. Proposals received beyond this date will not be considered.
Proposals should be forwarded to the Chairman Ibom Enterprise Development Scheme (2 hard copies for Micro – Enterprise and 3 hard copies for SMEs plus Electronic copies) to:
IBEDS Secretariat
Ministry of Commerce and Industry
Block 5
Idongesit Nkanga Secretariat, Uyo.
… The form is free,
Signed
Chairman
Fulfilling Godswill’s vision for sustainable wealth creation in Aks.
