The SMEDAN – Small and Medium Enterprises Development Agency of Nigeria is a federal government authorized agency created by an Act in 2003 with the objective of aiding, guiding, and facilitating the advancement of the Micro, Small, and Medium Enterprises (MSME) sector of the economy. APPLY NOW!
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The Micro, Small and Medium Enterprises (“MSME”) represents one of, if not the most important sector of our economy. It currently represents 96% of the businesses in Nigeria and contributes 75% of the National employment. Of the 17.2 million MSMEs in Nigeria, over 17 million are micro-enterprises. Thus, growth in this sector is directly correlated with growth in the economy as a whole and in the level of employment throughout Nigeria.
How to Apply for Federal Government SMEDAN Loan MSME Fund
To obtain a loan from SMEDAN or any of the fund providers in its pool, follow these steps:
- Go to the SMEDAN credit information portal
The crucial step is to go to the credit information portal. You can access the webpage from your computer, tablet, or phone. To access the credit information portal click here.
- Choose the type of loan that you want.
Subsequently, choose the type of loan that you are looking for. Click on Access loans on the top menu. There are practically four categories of loans to select from. The four categories of loan accessible include:
- Personal loan: Personal loans are for individuals to achieve aims/targets quickly
- Business loans: Business loans attempt to help businesses grow
- Mortgage loans: Mortgage Loans work toward helping in obtaining property. It is usually a long-term loan to help individuals own their houses
- Credit card loans: Credit card loans are to assist you on the go
- Deliver the required information.