Businesses do run out of finances most times and the only option left is to get a loan however, most loan apps and platforms aren’t reliable but then, you can always rely on Smedan Loan.
Smedan Loan is an SME loan platform that gives out loans to entrepreneurs looking for some sort of emergency cash to finance their businesses.
If you are an entrepreneur, and you are looking to get a loan from Smedan, then you should consider reading this article carefully till the end so as not to miss out on any important information.
What is SMEDAN?
SMEDAN, the Small and Medium Enterprises Development Agency of Nigeria, was established by the Federal Government of Nigeria with the goal of fostering the expansion of both small and large firms in order to strengthen the Nigerian economy.
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SMEDAN Loan Application
The program was developed to assist small and medium-sized firms and business owners by giving them the necessary instruments for speedier growth, much like the CBN Non-Interest Loan Scheme. Register your company today to begin taking advantage of these advantages.
Benefits Of Applying For SMEDAN Loan
The schemes give access to loans from multiple providers, grants from governmental and private organizations, and insurance.
SMEDAN gives you access to private sector benefits like training and educational content by professionals, consultants, private investment opportunities, and more.
The program provides business support from the government. These supports include conditional grants and many more.
What Is The Mandate Of SMEDAN?
The mandate of SMEDAN as contained in the enabling Act can be summarized as follows:
- Stimulating, monitoring and coordinating the development of the MSMEs sub-sector;
- Initiating and articulating policy ideas for small and medium enterprises’ growth and development;
- Promoting and facilitating development programs, instruments, and support services to accelerate the development and modernization of MSME operations;
- Serving as vanguard for rural industrialization, poverty reduction, job creation, and enhanced livelihoods;
- Linking MSMEs to internal and external sources of finance, appropriate technology, and technical skills as well as to large enterprises;
- Promoting and providing access to industrial infrastructures such as layouts, incubators, and industrial parks;
- Inter-mediating between MSMEs and Government;
- Working in contact with other institutions in both the public and private sectors to create a good enabling environment for business in general, and MSME activities in particular.
Guiding Principles Of SMEDAN
- Outreach: We like to reach as many MSMEs as are crucial and imperative to achieve the goal of an MSME led economic growth, industrialization and job creation
- Sustainability: We deliberately create exit strategies, whenever necessary to avoid over-dependence on subsid
- yImpact: We are committed to delivering measurable results
- Efficiency: We cherish quality service delivery by our Agency on one hand, and the MSMEs on the other, in the most cost-efficient manner.
SMEDAN Loan Requirements
- A registered business name
- Your Business Registration Number ( RC or BN)
- State in which the business operates
- Type of Business
- Age of Business(Number of years of operation)
- Phone Number and your government name
- SMEDAN Unique Identification Number
How To Get SMEDAN Unique Identification Number
To access a SMEDAN loan, you must register your business with SMEDAN and get access to government and private sector benefits.
The following are steps on how to get your SMEDAN Unique Identification Number:
- Visit smedan registration portal at smedanregister.ng/register
- The below information will be required to continue the registration. Ensure you provided SMEDAN with accurate information.
- Business Name
- Phone number
- Business premises you operate from
- Business Type
- Product or Service
- Evidence of registration with CAC?
- Business by assets value
- Number of staff
- Business Owner Information
- Office address
- Provide and fill in the above-required information and click on submit. After successful registration, SMEDAN will send an email to you containing your SMEDAN Unique Identification Number (SUIN)
How to Retrieve your lost SMEDAN Unique Identification Number (SUIN)
- Login to the email you used in your SMEDAN registration process
- Search with the word “SMEDAN.” and you should see a confirmation email from SMEDAN
- Kindly open the email, and it should contain your SMEDAN Unique Identification Number (SUIN).
- Ensure to save your SUIN carefully in other not to lose it again.
Which Agencies Does SMEDAN Collaborates With?
The following are partners of SMEDAN:
- National Planning Commission (NPC)National Bureau of Statistics
- National Poverty Eradication Programme (NAPEP)
- New Partnership for African Development (NEPAD), Nigeria.
- Federal Ministry of Agriculture and Rural Development
- Federal Ministry of Science and Technology
- Federal Institute of Industrial Research, Oshodi (FIIRO)
- National Office for Technology Acquisition and Promotion (NOTAP)
- Raw Materials Research and Development Council (RMRDC)
- Federal Ministry of Finance
- Central Bank of Nigeria (CBN)
- Nigeria Export-Import Bank (NEXIM)
- Federal Ministry of Labour and Productivity
- National Directorate of Employment (NDE)
- Federal Ministry of Commerce and Industry (FMCI)
- Corporate Affairs Commission (CAC)
- Nigerian Export Promotion Council (NEPC)
- Nigerian Export Processing Zones Authority (NEPZA)
- Standards Organisation Of Nigeria (SON)
- Bank of Industry (BOI)
- Bank of Agriculture (BOA)
- National Economic Reconstruction Fund (NERFUND)
- Industrial Training Fund (ITF)
- Federal Ministry of Women Affairs
- Federal Ministry of Youth Development
- National Youth Service Corps (NYSC)
- Federal Ministry of Health
- National Agency for Food and Drug Administration & Control (NAFDAC)
- State Governments: (State Ministries of Commerce, Industry and Agriculture, Tax, Land, Property/Physical
- Development, Investment Agencies/Departments)
- Local Governments
- Business Associations/Organizations
- African Business Roundtable (ABR)
- Nigerian Economic Summit Group
- National Association of Women in Business (NAWIB)
- Nigeria Association of Small and Medium Enterprises (NASME)
- Nigerian Association of Chambers of Commerce, Industry, Mine and Agriculture (NACCIMA)
- National Association of Small Scale Industrialists (NASSI)
- Manufacturers Association of Nigeria (MAN)
- Nigerian Association of Women Entrepreneurs (NAWE)
- International Development Partners (World Bank, JICA, GTZ, DFID, ADB, UNDP, UNIDO
How To Complete SMEDAN Loan Registration Form
SMEDAN gives you access to government and private-sector benefits to help you grow your small or medium-scale business faster.
We urge you to visit the SMEDAN official webpage 1https://smedan.gov.ng/ , register, and join thousands of Nigerians already enjoying loans and funding benefits.
Last Updated on July 15, 2023 by Wisdom John