How to get a loan from SMEDAN

Note: The SMEDAN loan portal has been offline for a while. Supposedly undergoing redesign or something else. We will keep you updated.

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 mentor-ship. Frequently, the organisation organizes different programs and projects aim 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 The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).


Understanding SMEDAN loan

SMEDAN does not necessarily provide loans on its own. While they occasionally disburse loans themselves, such as the National Enterprise Development Programme (NEDEP) loan, they most often time act as a middle man.

They create a pool of loans accessible to small businesses and entrepreneurs from different providers such as banks, Micro-finance, cooperate societies and more. They then give entrepreneurs and small businesses access to these loans through its platform. There are also loans provided by the Central bank of Nigeria (CBN) on its platform. Bank of Agriculture (BOA) loans can also be accessed from them.

In summary, it is more like a matchmaking between small businesses/entrepreneurs and fund providers. The matchmaker is SMEDAN.

All loans offered by SMEDAN itself and the fund providers in its pool can be accessed through the SMEDAN credit information portal.

SMEDAN loan requirement and collateral

Since all loans are not provided by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)  and there are different loan provider in the pool, requirement and collateral demand defers.

However, the emphasis of SMEDAN is on loan without collateral. Or with minimal collateral demand.

Generally, small businesses and entrepreneurs in Nigeria can have access to the loans in the pool.

Who can apply for SMEDAN loan?

Every small business and entrepreneur in Nigeria can apply. You can apply as an individual or as a group

How to get a loan from SMEDAN

Follow these steps to get a loan from SMEDAN or any of the fund providers in its pool:

1. Visit SMEDAN credit information portal

The first step is to visit the credit information portal. You can access the portal from your computer, tablet or phone. To access the credit information portal click here.

2. Select the type of loan that you want

Next is to select the type of loan that you are looking for. Click on Access loans on the top menu. There are basically four types of loan to select from. The four types of loan available includes:

Personal loan: Personal loans are aimed at helping individuals achieve aims/target quickly

Business loans: Business loans are targeted to help businesses grow

Mortgage loans: Mortgage Loans are aimed to assist in acquiring property. It is usually long-term loan to assist individuals own their houses

Credit card loans: Credit card loans are to help you on the go

So select the type of loan that you are looking for.

3. Provide needed information

You will be asked next to provide the necessary information. More like creating a profile. You must only provide accurate information.

Information required will include the purpose of the loan, your age, employment status and how much you need. See the screenshot below as an example.

Fill in the required information

4. Get loan options

Once you have filled in the required information, you click on ‘check availability’. From there you should be able to see the available loan options for you based on the information that you provided.

5. Apply for loan

Go through the results. You will see loan requirement for each of them and the interest rates. Once you find the one that is okay by you, you apply. Simply click on “View details and apply.” Then click on “Get started.”  From there you can apply.

SMEDAN loan interest rates

Since the loan are from different providers, there is no fix interest rate. However, SMEDAN prioritized loans with small interest rates.

Locations available

Currently the loans are available mainly in only few states in Nigeria. You can still find some in other states but the coverage is mainly in the following states: Lagos, Abuja and Kaduna. However, if you are not any of these states you can still try. You will see options for “All states” when applying. Select it. You may still have loans to access.

Contact information

You can contact SMEDAN through the following information:

Address: No 35 Port Harcourt Crescent , Area 11, Off Gimbiya Street, Area 11, Garki, Abuja.

Website: or

Email Address:

For other loan options, check our page: Loans

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Editorial staff

Editorial staff is a platform that connects people with ideas, opportunities and latest trends in personal finance growth online and offline. It is the most read personal finance platform in Nigeria

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