How Do I Get Loan from SMEDAN? — Everything You Need to Know

SMEDAN loan registration portal, SMEDAN loan registration form, SMEDAN loan application requirements, How to apply for SMEDAN loan in Nigeria.

SMEDAN was created or established by the SMEDAN Act of 2003 to promote the development of the MSME sector of the Nigeria Economy. The Agency positions itself as a one stop shop for MSME Development.

According to research, SMEDAN which acronym stands for Small and Medium Enterprises Development Agency of Nigeria is a body or agency that stands as a middle man between the government or private sector and the micro entrepreneur.

This simply means that they request for loans from either the government or the private sector on behalf of the small business owners.

SMEDAN primary aim is to establish a structured and efficient micro, small and medium enterprises sector that will enhance sustainable economic development of Nigeria.

SMEDAN mission is to eradicate poverty in Nigeria and enhance the development of small firms to boost the economy.

In this article, we would give you every detailed information about how to get loans from SMEDAN and other related topics.

To get to know how to apply, read this guide carefully till the end.

SMEDAN Loan Application Portal 2020

The loan application portal for SMEDAN is smedanregister.ng

The application or registration portal gives you access to where you can apply for the loan and also receive loans.

Register your business on the portal and receive exciting benefits from the government and private sector.

Who can Apply for SMEDAN Loan?

Basically, since SMEDAN objectives are to facilitate the access of micro, small and medium entrepreneurs and investors to all resources required for their development.

We could all agree that the loan is for micro, medium and small enterprises. Every small business can apply for the loan.

You can either apply for the loan as individuals or groups.

Please take note, large, macro enterprises are not eligible to apply.

SMEDAN Loan Application Requirements

There are basic requirements which must be met before proceeding to register for SMEDAN loans.

Below is the requirements to apply for SMEDAN Loan:

First and foremost, you must be a Nigerian by birth and equally reside in Nigeria.

Have a good proof of your business, not only that it should be a legitimate one before applying for a loan.

You must have a valid phone number and email address.

You must have a Bank Verification Number (BVN).

It is necessary that you must have your birth certificate or age declaration ready.

You must have completed secondary level and possess WAEC/NECO or HND, OND degree from a reputable university.

You must be 18-35 years before you can apply for the loan.

You must have a valid information like ID card, driver’s license, voters card, etc.

SMEDAN Loan Interest Rate

Actually, SMEDAN does not have a fixed interest rate on loans since the loans are from different lenders. But they prioritize  loans from small interest rate.

How to Apply for SMEDAN Loan

Applying for a loan from SMEDAN portal is pretty simple.

We’ll show you the steps on how to apply successfully. Read details below;

First step is to visit SMEDAN loan registration portal via cip.smedan.gov.ng

Looks like the portal is not opening. It should probably be some upgrade. Whatever may be issue, we’ll update you once the portal is back to normal.

Second step is choosing the type of loan you need. There are four types of loans:

Personal Loans

Business Loans

Mortgage Loans

Credit Card Loans

You choose the one that best fits your need and move on to the next step.

The next step is, providing the necessary information on the portal. Follow all instructions given on the portal.

After providing the necessary information on the portal, you’d be required to check the availability of loans.

If you’re lucky, you can now apply for various loan options on the portal. You are also given the opportunity to check the interest rate of each loans on the portal. If suitable by you, you can go ahead to apply.

SMEDAN Contact Information

For more enquires or complaint, you can directly contact them using the following information below:

Address: No 35 Port Harcourt Crescent , Area 11, Off Gimbiya Street, Area 11, Garki, Abuja.

Website: smedan.gov.ng or cip.smedan.gov.ng

Email Address: info@smedan.gov.ng