SMEDAN Loan Registration Form 2023/2024 – Direct Application Link

SMEDAN Loan Registration Form 2023/2024 – Direct Application Link

SMEDAN Loan – The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is charged with the duty of stimulating, monitoring, and coordinating the development of the MSMEs sub-sector and also initiating and articulating policy ideas for small and medium enterprises’ growth and development for rural industrialization, poverty reduction, job creation, and enhanced livelihoods.

As a way of discharging its duties, SMEDAN also offers loans to businesses within its operational categories and these loans are sometimes offered in partnership with other organizations such as;

• Microfinance banks
• Bank of Industry
• Islamic Bank of Nigeria
• Commercial banks
• Private lenders, etc

Read also: National Directorate Of Employment Nationwide ARTISAN Registration 

SMEDAN Loan Application

SMEDAN loans are available in various scales and can be used for various purposes including;

• Business loan
• Personal loan
• Equipment loans

Depending on the type of loan an individual needs, the interest percentage always differs and thing usually ranges from single to double-digit.

Read also: World Bank Empowerment Program In Nigeria

SMEDAN Loan Application Requirements

The requirements to obtain a loan from SMEDAN always differ based on the type of loan you are applying for but so far, some of the common requirements for all loan types include but are not limited to;

• A registered company name (CAC approved or SMEDAN registration Number for a business loan)
• Bank Verification Number(BVN)
• National Identity Number(NIN)
• Active email address and phone number
• Personal Information

How to Access SMEDAN Loan and SMEDAN Registration

In a recent development, it is now almost compulsory to register your business with SMEDAN and obtain your registration number to get access to SMEDAN benefits to do this, you need to complete your KYC verification process which will then unlock future benefits and opportunities for you. This KYC verification process requires payment of N200 on the SMEDAN registration portal after successful registration on the portal. So, if you are yet to do that, head over to the SMEDAN registration portal here now to register your business.

Read also: Top 15 Best Instant Loan Apps in Nigeria

How to Activation SMEDAN Benefits After SMEDAN Registration

After completing your SMEDAN account registration, follow these steps to activate the SMEDAN benefits, on your dashboard;

• Click on the SMEDAN benefit 
• Then Enter your KYC verification (select ID type, input BVN number, and date of birth
• Then click on “Proceed”

You will be redirected to the payment page where you pay 200 Naira. There are two options for payment;

• Card: Enter your card details to complete your payment
• Transfer: Transfer the 200 Naira to the bank account number displayed on your screen

Who Is Eligible for SMEDAN Registration

All Micro, Small, and Medium Enterprises (MSMEs) in Nigeria are eligible to apply including Artisans, traders, Tailors, Fashion Designers, Spare Parts Dealers, and Barbers, etc. If the above describes your business, then you are eligible so hurry and register now.

• You must reside and be a Nigerian citizen by birth.
• You must have, at hand, your Birth certificate or age declaration.
• You must have a Bank verification number (BVN)
• You must have a valid phone number and E-mail Address
• You must be able to read and write to navigate the process
• You must be between 18 and 45 years.
• A valid means of identification is required e.g.; International Passport, Voter’s ID-Card, National ID card, or Driver’s license.

Read also: Seven-Up Bottling Company Graduate Trainee Program

How to Apply for SMEDAN Loan

f you wish to apply for a SMEDAN loan, you must first complete the above process to unlock the benefits section of the portal however, if you wish to see current loan options on the SMEDAN loan portal, you can click here or visit https://cip.smedan.gov.ng/ to see a list of lenders and select your desired amount then proceed to requirest your loan.

Read also: How to Improve Your Business Credit Score

You May Also Like:

NPC Birth Registration Staff Recruitment
Institute of Chartered Accountants of Nigeria (ICAN) Graduate Internship
Ashinaga Africa Scholarships – Fully Funded Undergraduate Scholarships
University of Sussex Nigeria Scholarship
Fully Funded Master’s Scholarships in Canada
Lateef Jakande Leadership Academy Fellowship Programme
HiiL Justice Entrepreneurship School Incubation Programme
Absa SHE STARS Program for Kenyan Entrepreneurs
European Commission Peace Ambassador Scholarship

If you find this information useful, please share it with your friends and family to help us reach more readers. Like and follow us on Facebook and Twitter. Thanks