How To Apply For SMEDAN Loan For 2023 – See The Steps To Apply Here

The Small Medium Enterprises Development Agency of Nigeria also known as SMEDAN for short was an agency established by the federal government of Nigeria to promote the development of small and large enterprises in order to grow the economy of the country. This agency offers loans to its members. We will look at how to apply for SMEDAN loan for 2023 and the steps involved. It has been noticed that small medium-scale entrepreneurs need financial support to grow their businesses.

Benefits Of Registring With SMEDAN As A Member

Once you have registered as a member of SMEDAN, there are some benefits that you will enjoy which include financial assistance in the form of a loan. This is why we will show you a guide on how to apply for SMEDAN loan for 023. But first things first, let’s look at the benefits of being a member of SMEDAN.

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Benefits From The Federal Government: When you register your business with SMEDAN, you will receive some assistance from the government that will help you grow your business. You can be given the opportunity to get grants from the government after fulfilling the conditions or meeting the stated criteria.
Financial Services: after registering as a member oF SMEDAN, one of the benefits is that you can get grants from both private and public organizations. You can also get insurance and credit from a variety of leaders.
Private Sector Advantages: One of the benefits is that SMEDAN will provide its members with private sector advantages such as expert and consultant training and educational materials, private investment opportunities etc.

What Is The Purpose Of Establishing A SMEDAN Loan?

Before we discuss how to apply for SMEDAN loan for 2023, you need to know that SMEDAN is contained in the act. The summary of the whole mandate of SMEDAN is as follows:

  • SMEDAN was formed to stimulate, monitor, and coordinate the MSMEs sub-sectors development.
  • They are involved in Initiating and expressing policy concepts for the growth and development of small and medium-sized businesses.
  • SMEDAN helps in promoting and enabling development programs, tools, and support services to help MSME operations improve and modernize.
  • The agency serves as a leader in rural industrialization, poverty reduction, job creation, and improved living conditions;
  • They help in connecting SMEs to internal and external sources of capital, relevant technology, technical skills, and large corporations that will help to improve and build their business.
  • SMEDAN promotes and facilitates access to industrial infrastructure such as layouts, incubators, and industrial parks
  • They serve as an intermediary between SMEs and the government;
  • SMEDAN try as much as possible to work with other public and private sector entities to establish a good enabling environment for businesses in general, and all MSME activities in particular.

Principles Guiding SMEDAN Loan

Before going through the process of how to apply for SMEDAN loan for 2023, you must first know the principles that guide the SMEDAN loan. The following are the principles that guide SMEDAN loans:

Outreach: SMEDAN as an organization wants to reach as many MSMEs as possible in order to achieve its goal of MSME-led economic growth, industrialization, and to create jobs for the unemployed.
Sustainability: SMEDAN creates exit strategies whenever necessary to avoid over-reliance on subsidies. And this they try to achieve through the issuance of SMEDAN loans.
SMEDAN as an agency of the federal government is dedicated to delivering measurable results.
Efficiency: SMEDAN has value for quality service delivery by their Agency on the one hand, and the MSMEs on the other, in the most cost-effective way possible.

Requirements To Obtain SMEDAN Loan

For any applicant or business owner to be able to get a SMEDAN loan, the following requirements must be in place. They are as follows:

  • You must have a registered company name.
  • You must have your Company’s Registration Number (RC or BN).
  • You must state the type of Business you do, the age of your business, and the state in which the business operates or is located (Number of years of operation).
  • You must provide a phone number and an official name.
  • You must have SMEDAN’s Individual Identification Number.

How To Apply For SMEDAN Loan For 2023

In this section, we will show you how to apply for SMEDAN loan for 2023 after you have checked and met the necessary requirements. Use the steps below are how to apply for SMEDAN loan For 2023.

  • Go to the SMEDAN registration portal at HERE to register.
  • In order to continue with the registration, you must provide the following information as required. Ensure that you provide SMEDAN with accurate information. The information you should provide includes the following:
    Your registered business Name.
    Your phone number,
    The business premises you operate from.
    Your business type,
    The product or service you provide.,
    Evidence of registration with the Corporate Affairs Commission (CAC).
    The value of your business by assets worth.
    The number of staff working for you.
    All information relating to the business Owner.
    Your office’s current address.
  • Enter the required information and click the submit button.
  • If your application is successful, SMEDAN will send you an email with your SMEDAN Unique Identification Number (SUIN).

How To Retrieve Your SMEDAN Unique Identification Number (SUIN) If Lost

Now you know how to apply for SMEDAN loan for 2023, you need to know how to retrieve your lost SUIN. It is possible to retrieve your SMEDAN Unique Identification number if you lost it. The following are the steps you can use to retrieve your SMEDAN Unique Identification Number (SUIN).

  • Using any web browser of your choice and using the email address you used during the SMEDAN registration process, log in to the official page of SMEDAN.
  • When 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).
  • Ensure you save your SUIN carefully so that you don’t lose it again.

List Of Other Government Agencies That Collaborate With SMEDAN

The following is the list of other agencies that collaborate 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

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