SMEDAN – How to Register and Get your Certificate; How to Get SMEDAN Loan; All you Need to Know

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In a vast economy like Nigeria’s where most businesses are driven by medium and small enterprises, lack of access to corporate finance facilities from banks and other financial institutions was a major problem. The government decided to support the small and medium scale enterprises in their activities. This gave birth to the agency – SMEDAN.

What is SMEDAN?

SMEDAN means Small and Medium Enterprises Development Agency of Nigeria. Created in 2003, SMEDAN was established to support Micro, Small and Medium Enterprises (MSMEs) in their day-to-day activities by promoting them, supporting them, setting conducive business grounds, connecting them to businesses, and also handing them grants and loans.

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Why You Should Register your Business with SMEDAN

Registering your business with SMEDAN has been proven to open the business to a lot of unprecedented opportunities and support. Here are a few benefits you stand to get simply by enlisting your business with SMEDAN:

  1. Connects you with other businesses
  2. Connects you to the private sector
  3. Access to trainings
  4. Access to grants
  5. Access to cheap government loans
  6. Improves visibility
  7. Keeps you up to date with new industry happenings

Requirements to Register your Business with SMEDAN

To register your business with SMEDAN, you must meet certain criteria. Here are the conditions and requirements you (the proprietor/proprietress) need to meet to be eligible to register with SMEDAN:

  • You must be Nigerian
  • SME must be registered with CAC and other relevant authorities
  • You must reside in Nigeria
  • BVN of proprietor(ess)
  • You must be between 18-45 years old
  • Valid government-issued identification e.g International passport, NIN, Voters’ card, or Drivers License
  • Valid email and phone number

Step-by-step Guide on How to Register your Business with SMEDAN

how-To-Register-And-Get-Your-Certificate-How-To-Get-SMEDAN-Loan

Registering your business with SMEDAN is a very simple and seamless process. It can be done in a short time. Here is a step-by-step- guide on SMEDAN registration for your business:

  1. Visit SMEDAN website: https://smedanregister.ng
  2. Input your business name, phone number, email address, and password.
  3. Click “Get started”
  4. Enter other information about your business e.g registered address address, nature of business, staff strength, and so on.
  5. Submit
  6. Your SMEDAN certificate will then be forwarded to your registered email. The SMEDAN certificate contains your business name and SMEDAN unique number.
  7. Go to your email. View and download your certificate

How to Apply and Get SMEDAN Loan

Accessing credit facilities from commercial banks and other financial institutions can be a hard task for an MSME. Most times, it is simply impossible as banks tend to see MSMEs as high risk, even with a tangible collateral. 

This is because their profiles are either sketchy or lean, their staff strength low, there’s no abundance of assets, and so on.

Asking yourself ‘do I qualify for a SMEDAN loan?’ Truth is, you are eligible to apply for a SMEDAN loan as long as you have concluded your SMEDAN registration and your business carries a unique SMEDAN number. You must also apply for loans that relate with your sector to be considered.

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Here’s how to get a SMEDAN loan:

Through the website

  • Go to the SMEDAN portal
  • Log in
  • Navigate to Programs to view the Available Loans
  • Read and agree to the terms of the loan
  • Click Apply
  • Enter all requested details
  • Submit

Through the SMEDAN Mobile App

  • Download the SMEDAN Mobile App for iOS or Android
  • Launch the mobile app
  • Log in
  • Navigate to Available Loans
  • Read and agree to the terms of the loan
  • Click Apply
  • Enter all requested details
  • Submit

Tags: smedan registration, how to register on smedan, smedan loan, smedan mobile app, smedan website, smedan

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