SMEDAN Loan Registration Form 2023/2024 – SMEDAN Business Registration Direct Link

SMEDAN Loan Registration Form 2023/2024 – SMEDAN Business Registration Direct Link

SMEDAN Loan – The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is responsible for stimulating, monitoring, and coordinating the development of MSMEs in Nigeria part of its duties is to initiate and articulate policy ideas for small and medium enterprises’ growth and development for rural industrialization, poverty reduction, job creation, and enhanced livelihoods.

Read also: Register your Business on SMEDAN With USSD Code

In other to achieve these set goals, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), works with different partners in both government and private sectors, and some of the partners they have worked with in recent times in the SMEDAN Loan initiative(SMEDAN Matching Fune) include;

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

SMEDAN Loan Application

SMEDAN offers different ranges of loans through its partner platforms and these loans are tailored according to individual needs and each eligible beneficiary always has he opportunity to pick what suits them most according to the amount they need. Some of the loan options available include;

• Personal loan
• Business loan
• Equipment loans

The interest percentage of these loans differs and usually ranges from single to double-digit interest rates so, it is important to pay attention to the loan interest rate before deciding what suits you most.

Read also: Federal Government and Private Loans For Businesses and Personal Use

SMEDAN Loan Application Requirements

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

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

Read also: Kwaba Loan Application

How to Access SMEDAN Loan and SMEDAN Registration

Recently, it has become almost compulsory to register your business with SMEDAN and obtain your SEMEDAN registration number to access SMEDAN benefits some of which include SMEDAN loans.

To apply for this loan, you have 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.

Read also: CBN NIRSAL Non-Interest Targeted Facility Loan

Steps to Activate SMEDAN Benefits After SMEDAN Registration

After completing your SMEDAN account registration, follow these simple steps to activate the SMEDAN benefits, on your dashboard so as to gain access to the loan portal;

• 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 N200(Two Hundred Naira) to the bank account number displayed on your screen.

Read also: Sterling Bank Plc – SMEDAN Matching Fund

Who Is Eligible for SMEDAN Registration

Every Nigerian who owns Micro, Small, and Medium Enterprises (MSMEs) in Nigeria is eligible to apply including Artisans, traders, Tailors, Fashion Designers, Spare Parts Dealers, and Barbers, etc.

• Must reside and be a Nigerian citizen by birth.
• Must have, at hand, your Birth certificate or age declaration.
• Must have a Bank verification number (BVN)
• Must have a valid phone number and E-mail Address
• Must be able to read and write to navigate the process
• 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: Nigeria Loan Apps and USSD Code

How to Apply for SMEDAN Loan

If you are interested in SMEDAN loan, you must first complete the above process to unlock the benefits section of the portal but if you wish to see the current loan available on the CIP SMEDAN loan portal, you can click here or visit here https://cip.smedan.gov.ng/ to see the list of lenders and select your desired amount then proceed to requirest your loan.

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