Any business activities that do not fall among the specifications above and meets the following criteria will be considered as an eligible SME and can partake in the SMIEIS:
SMEs registered with the Corporate Affairs Commission (CAC)and in compliance with the Companies and Allied Matters Act (1990)such filing of annual returns and un-audited statements of accounts

MODALITIES FOR IMPLEMENTATION OF THE SCHEME

Funds invested by participating banks shall be in the form of equity investment in eligible industries
Equity investment may be in the form of fresh cash injection and/or conversion of existing debts owed to participating banks into equity investment

• A participating company may obtain more funds by way of loans from banks in addition to equity investment under the scheme
• Eligible industries may approach any bank including those they presently have a relationship with or the ones which they do not have a relationship with
• Banks may operate the scheme directly through their wholly-owned subsidiary venture capital companies floated by a consortia of banks.
• Prospective beneficiaries should seek the opinion of third party consultants like lawyers, Accountants and Valuers determining the value to be placed on the asset and the capital of their businesses to enjoy a fair price before and during negotiations with Banks.
  Membership of recognised NGOs engaged in entrepreneurial development and promotion of small scale industries will also be an advantage
  
  The recommendations of industrial associations (e.g. MAN,NACCIMA, NASME, NASSI, etc)