FAQs On 2020/2021 SMEDAN MSMEs Loan Application
We have received numerous comments from our visitors asking us Frequently Asked Questions (FAQs) on SMEDAN MSMEs Loan Application. I know you are one of the people that like asking this question. Don’t bother yourself anymore because this informative article is been written to give an answer to your questions.
What Is SMEDAN
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is a government-sanctioned agency created by an Act in 2003. The goal of SMEDAN is to help, mentor, and promote the growth of the Micro, Small, and Medium Enterprises (MSME) sector of the economy.
The agency achieves this goal by helping Small businesses and entrepreneurs have access to loans and also offering training and mentorship. Frequently, the organization organizes different programs and projects aimed at helping the MSME sector.
As you may know, the MSME sector of the economy is the backbone of Nigeria’s economy. It is widely believed that if small businesses and emerging entrepreneurs can be empowered with access to funds and training, the Nigerian economy would grow rapidly. That is the goal of The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
What Is The SMEDAN MSME Registration About?
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has commenced the mass registration of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. This mass registration exercise will facilitate the development of a comprehensive database for MSMEs in Nigeria, and each MSME will have a Unique Identification Number created for them.
FAQS On SMEDAN MSME Registration
Who Can Register?
This registration exercise is open to all Micro, Small and Medium Enterprises operating in Nigeria, including Artisans, traders, Tailors, Fashion Designers, Spare Parts Dealers, Barbers, and so much more! If you run a business, you are qualified to register.
Why Register?
Registering as an MSME on this database will enable critical stakeholders in the private and public sector to provide you with the necessary support, policies, and programs tailored for you. Registered MSMEs will be the direct beneficiaries of various SMEDAN programs, as well as other public and private sector organizations.
What Are the Benefits of Registration?
- The registration exercise is simple and easy to complete within minutes. More importantly,
- Creation of a SMEDAN Unique Identification Number (SUIN);
- Access to the SMEDAN Conditional Grant Scheme (Grants of up to N50,000 per MSME);
- Priority funding from public and private sector financial institutions, including International Donor Agencies;
- Empowerment Programs and Entrepreneurship Training
- Business Insurance*
- And Many More!
For more information, visit SMEDAN