If you are a struggling small or medium-scale business owner in Nigeria, then it is high time you took out a SMEDAN loan. Basically, this loan was created by the Federal Government of Nigeria to provide a soft landing for entrepreneurs. Once you register your business on the platform, you can access loans for the expansion of your business and to cover the day-to-day operations of your business.
An Overview of SMEDAN
SMEDAN, short for “Small and Medium Enterprises Development Agency of Nigeria” is a scheme established by the Federal Government to cater for small and medium-sized businesses. This scheme was brought about by the SMEDAN Act of 2003 and aims to facilitate the growth of the MSME sector.
SMEDAN as an Agency places itself as the bedrock of MSME Development. Micro Enterprises are also welcomed in the client base of this Agency since they cater to all SMEs in Nigeria. When you register all your businesses with SMEDAN, you will be able to access loans from numerous providers, quick insurance, as well as grants from private and governmental organizations.
SMEDAN’s works aid both private and government sectors in Nigeria since small and medium businesses are one of the important drivers of both job creation and economic growth in Nigeria.
What are the Benefits of SMEDAN?
Here are some benefits of registering your business with this agency:
1. Financial Services
With this agency, you get fast access to multi-providers of loans, insurance, and grants from both government and private organizations.
2. Government Benefits
When you sign your business up for SMEDAN, you will be able to access business support from the Nigerian government These supports include conditional business grants and many other attractive perks.
3. Private Sector Benefits
SMEDAN allows you to access private sector perks like consultant and specialist training, amazing educational content, as well as private investment opportunities.
Read Also: Zedvance Loan – Types and How to Apply
How to Register/Apply for SMEDAN Loan 2023
SMEDAN gives you access to government and private-sector benefits to help you grow your small or medium-scale business faster. To apply, visit https://smedanregister.ng
- Visit the SMEDAN website (www.smedan.gov.ng) and click the “Registration” tab.
- Fill out the online registration form with the necessary information about your business, including your company name, business address, contact details and type of business.
- Submit the completed registration form and required documents, such as proof of business ownership and business registration documents.
- Wait for your registration to be processed and approved by SMEDAN.
Get your certificate from SMEDAN and become authorized to obtain easy loans as well as grants for your business.
Once your SMEDAN registration is successful, here is how to apply for a personal loan from the platform:
1. First, visit the SMEDAN personal loan portal
2. Next, enter the necessary details required to get a loan. You will have to provide your age group, employment status, location, loan amount, and the loan purpose.
3. Thereafter, tap on “Check Availability”. You will see a list of the available loans suitable for your needs.
4. Apply for any of the loans available.
To get a business loan from the SMEDAN platform, follow these steps:
1. First, visit the SMEDAN business loan portal
2. Next, enter the necessary details required to get a loan. You will have to provide your age range, location, loan purpose, loan amount, and how long your business has been operating.
3. Thereafter, tap on “Check Availability”. You will see a list of the available loans suitable for your business needs.
4. Apply for any of the loans available.
Note that the lenders will need the certificate of incorporation (CAC certificate) of your business, your audited financial statements, as well as bank account statements.
What Are the Requirements to Obtain a SMEDAN Loan?
Here are the important documents you need to obtain a loan from this agency:
- A duly registered business name
- Your Business Registration Number (either the RC or BN)
- State in which your business operates
- Age of the Business(Number of years it has operated for)
- Type of Business
- SMEDAN Unique Identification Number
- Phone Number as well as your government name
How To Get SMEDAN Unique Identification Number
To access an instant SMEDAN loan unique identification number by following these steps:
1. Visit the official SMEDAN registration platform at smedanregister.ng/register
2. Provide the information below to continue with the registration. Make sure you provide SMEDAN with the correct information.
- Business Name
- Business Type
- Product or Service
- Phone number
- Business premises you operate from
- Evidence of registration with CAC?
- Number of staff
- Business by assets value
- Business Owner Information
- Office address
3. Fill out the above-mentioned information and tap on submit.
After your registration is successful, SMEDAN will send you an email containing the SMEDAN Unique Identification Number (SUIN) for your business.
Read Also: NewCredit Loan – How to Apply in 5 Easy Steps
How Can I Retrieve My Lost SMEDAN Unique Identification Number (SUIN)?
To retrieve your lost SMEDAN identification number, follow these steps below:
- Open your email (the one you used during your SMEDAN registration process)
- Next, search for the word “SMEDAN.” You should find the confirmation email sent from SMEDAN.
- Open the email, and you will find your SUIN (SMEDAN Unique Identification Number)
Make sure you save your Unique Identification Number carefully in order not to misplace it again.
How Can I Contact SMEDAN?
You can contact SMEDAN via any of these ways:
Address: No 35 Port Harcourt Crescent, Off Gimbiya Street, Area 11, Garki, Abuja.
Visit this link to see the addresses of SMEDAN zonal offices
Email Address: info@smedan.gov.ng
Website: www.smedan.gov.ng
Bottom Line
SMEDAN loan is a very important business support tool that the Federal Government has introduced. It plays a crucial role in helping the development and growth of small and medium businesses in Nigeria.
Through this program, businesses can access capital, resources, as well as expertise to help them grow well and succeed at anything. To access this loan, just visit the official SMEDAN website and register your business. Alternatively, you can visit any of their physical offices and register your business with them.
