Apply for the SMEDAN Loan 2023

By
Success Goodluck
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The SMEDAN loan is very much available for Small medium-scale entrepreneurs who need financial support for their businesses. Read this comprehensive guide to know how to apply for this loan.

Apply for the SMEDAN Loan 2023
Apply for the SMEDAN Loan 2023

SMEDAN

The Federal Government established the Small and Medium Enterprises Development Agency of Nigeria to promote the development of small and large enterprises in order to grow the Nigerian economy.

SMEDAN Registration Benefits

  • Financial Services: Get grants from both public and private organizations, as well as insurance and credit from a variety of lenders.
  • Private Sector Advantages: SMEDAN provides you with private sector advantages such as expert and consultant training and educational materials, private investment opportunities, and more.
  • Benefits from the Government: Enroll in SMEDAN to receive government assistance for your business. Grants subject to certain conditions are just one of these advantages.

What is the Purpose of SMEDAN Loan

The mandate of SMEDAN is contained in the act that is summarized below:

  • Stimulating, monitoring, and coordinating the MSMEs sub-sectors development;
  • Initiating and expressing policy concepts for the growth and development of small and medium-sized businesses;
  • Promoting and enabling development programs, tools, and support services to help MSME operations improve and modernize;
  • Serving as a leader in rural industrialization, poverty reduction, job creation, and improved living conditions;
  • Connecting SMEs to internal and external sources of capital, relevant technology, technical skills, and large corporations.
  • promoting and facilitating access to industrial infrastructure such as layouts, incubators, and industrial parks
  • Intermediary between SMEs and the government;
  • Working with other public and private sector entities to establish a good enabling environment for business in general, and MSME activities in particular.

The Principles of SMEDAN Loan

The guiding principles of SMEDAN are:

  • Outreach: The organization wants to reach as many MSMEs as possible in order to achieve its goal of MSME-led economic growth, industrialization, and job creation.
  • Sustainability: SMEDAN creates exit strategies whenever necessary to avoid over-reliance on subsidies.
  • They are dedicated to delivering measurable results.
  • Efficiency: They value quality service delivery by their Agency on the one hand, and MSMEs on the other, in the most cost-effective way possible.

SMEDAN Loan Requirements

To get a loan from SMEDAN, you must have the following requirements:

  • A registered company name.
  • Your Company Registration Number (RC or BN).
  • Type of Business Age of Business State in which the business operates (Number of years of operation).
  • Phone number and official name.
  • SMEDAN’s Individual Identification Number.

How to Apply for SMEDAN Loan

To access your SMEDAN loan, you must have registered your business with them.

Follow the steps below to start your SMEDAN loan Apply:

  • Visit the SMEDAN registration portal at ng/register to register.
  • To proceed with the registration, the following information will be required. Make certain that you provided SMEDAN with accurate information. This information should include the Business Name, Phone number, Business premises you operate from, Business Type, Product or Service, and Evidence of registration with CAC. Business by assets value, Number of staff, Business Owner Information, and Office address.
  • Fill in the required information and click the submit button. SMEDAN will send you an email with your SMEDAN Unique Identification Number after you have successfully registered (SUIN).

How to Retrieve your lost SMEDAN Unique Identification Number (SUIN)

To retrieve your Lost SMEDAN Unique Identification number, follow the steps below:

  • Log in using the email address you used during the SMEDAN registration process.
  • If you search for “SMEDAN,” you should receive a confirmation email from SMEDAN.
  • Please open the email, which should include your SMEDAN Unique Identification Number (SUIN).
  • Make sure to save your SUIN carefully so that you don’t lose it again.

Agencies that Collaborate with SMEDAN

The following agencies partner with 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
  • 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
  • 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
  • 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 Organization of Nigeria (SON)
  • Bank of Industry (BOI)
  • Bank of Agriculture (BOA)
  • National Economic Reconstruction Fund (NERFUND)
  • Industrial Training Fund (ITF)
  • Federal Ministry of Women’s Affairs
  • Federal Ministry of Youth Development

Frequently Asked Questions

Does SMEDAN ask for BVN?

You must be from Nigeria. CAC and other relevant authorities must register SMEs. You must be a Nigerian citizen. proprietor’s BVN.

What Are the Aims Of SMEDAN?

Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) works to help small and medium-sized businesses overcome challenges such as poor infrastructure in business operations management and access to financial services.

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