How To Apply For SMEDAN Loan Facility

How To Apply For SMEDAN Loan Facility – The Small and Medium Enterprises Development Agency of Nigeria SMEDAN has launched a credit information portal. The Portal provides an information pool that will assist Entrepreneurs make informed decisions in getting loans and credits from financial institutions within their locations.

What is SMEDAN Credit Information Portal (CIP)

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The credit information portal is a repository of information on the different providers of finance and terms and conditions for accessing finance.

There are majorly four types of loans you can access on this website; they are Personal, Business, Mortgage and Credit.

SMEDAN Loan Facilities

There are majorly four types of loans you can access on the SMEDAN CIP website; they are:

Personal
Business
Mortgage and
Credit

SMEDAN Loan Application Process Stage

Whichever one you choose, will take you through a four stage process before you can access the information. The first stage is by clicking on any of the loans of your choice (Personal, Business, Mortgage and Credit) which takes you to the second stage where you have to fill in a quick form to search for the required loan selected from stage one, The third stage shows you a list of loans that matches your search criteria and the final stage is to view the contact information of your required loan.

Important Information and Requirement

SMEDAN advised each business owner to request this category of information from each financial institution as requirements may vary. However, the common documents requested are the certificate of incorporation of your business, audited financial statements and bank account statements.

How to locate the financial institutions:

The service is still in its pilot phase and it is currently limited to Kaduna, Lagos and Abuja. The initiative will be rolled out in other parts of the country after the initial phase.