Get Up to N1,000,000 – How to Apply for Business Grant From SMEDAN

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has launched a nationwide mass registration programme that is designed to provide tailored and critical hand-holding services to the informal operators (medium, small and micro enterprises) in Nigeria.

According to Vanguard, the programme is expected to:

• offers small business owners’ access to low interest loans as well as training and mentorship.
• gives entrepreneurs and small business owners access to low interest loans from different fund providers such as Commercial and Micro-finance banks, cooperate societies and more through its platform.
• facilitate the development of a comprehensive database for MSMEs in the country and ensure their growth, sustainability, and diversification.
• promote the growth and development of the Micro, Small and Medium Enterprises (MSME) sector of the Nigerian economy

Dr Umar Dikko Radda, Director-general, SMEDAN, said that “MSMEs that are registered on SMEDAN official website portal – www.smedanregister.ng, would be allowed by the agency to gain access to

• training and
• other facilities provided by federal government agencies as well as other
• lending and support institutions at the federal, state, and local government levels
• funding support,
• empowerment,

He spoke at the launch, explained that it was expected to facilitate the sourcing, developing, warehousing and managing of a comprehensive and verifiable database of MSMEs with a view to providing wholesome solution to a formalized MSME subsector of the Nigerian economy”

Applicant That Successfully registered would be issued a

• Digital MSME Certificate, as well as a
• SMEDAN Unique Identification Number (SUIN).

Benefits of the programme include:

• business Development Support (BDS) services,
• be exposed to free mentorship services, and
• would be allowed to participate automatically in government procurement processes, ensuring tax holidays and other incentives
• creating higher export potentials,
• facilitating free matchmaking and
• marketing through SMEDAN’s E-Cloud platforms.
• gain subsidized access to specialized advisory
• it would industrialize the nation,
• develop the rural economy,
• stem youth restiveness and unemployment, as well as
• create the platform for sustainable economic growth and development in the country.

“The DG explained that the justification for a database of grassroots entrepreneurs cannot be over-emphasized, including moving informal enterprises to the formal sector.

Expressing optimism that the registration scheme would also create millions of jobs across the entire country,

The on-going registration exercise targets the integration of over 40 million micro, small and medium scale enterprises (MSMEs) across the entire country and the information provided would be accessible to donor agencies and multilateral organisations that wish to provide developmental support for MSMEs across the country.

You can register your SMEDAN Unique Identification Number ( SUIN) at https://smedanregister.ng/register.php

Steps to Getting A SMEDAN Loan

• The first step is to visit the credit information portal of SMEDAN  www.smedanregister.ng
• Provide basic information on your loan needs such as age, employment status and how much needed and purpose of the loan. View the loan requirements, interest rates of the loans that appeared on search results and apply for a loan
• Get search results based on the basic information provided