SMEDAN Loan | Apply For FG Nationwide Loan 2024

Are you trying to find the newest grants and loans with the lowest or no interest? SMEDAN Loan as well as other Federal Government and other national and international organizations’ current loan offerings are listed below.


In Nigeria, obtaining a loan with minimal or no interest is quite easy. As you read on, we’ll go over several key considerations and even explain how to obtain a loan for free in Nigeria.

Before you apply for a loan, there are a few things you should first grasp. For instance, SMEDAN, a government agency, frequently grants loans. They recently joined forces with Jaiz Bank Plc to support the growth of small and medium-sized businesses.

Small and medium-sized businesses can apply for non-interest loans up to N5 million in size.

In an effort to maximize the potential of new graduates as entrepreneurs, the Central Bank of Nigeria launched the Tertiary Institutions Entrepreneurship Scheme (TIES). hence this is also an opportunity for you if you are a new graduate who recently started your own business.

The bank claims that the program’s annual goal of funding entrepreneurs will result in the creation of steady employment each year.

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List of FG Loans to Apply For

Below are ongoing loans- be the first to apply before it ends.


Amount: N1.5 million

2.)N25m Loans for Graduate Entrepreneurs

Amount: ₦25m

3.) SME Loan for Small Business

Amount: ₦5m each

4.)N40,000 Free Salary to 774,000 Applicants

Amount: ₦40,00 each

5.) FG Loan: N150k – 2millon (For Nigerian)

Amount: ₦150,000 and above

6.) ₦300k FG Trader Moni Loan – Have you applied

Amount: ₦300,000

Disclaimer: We do not influence the ongoing registration. Our job is to provide the necessary information required for you to be selected.


The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), was created to promote the development of smaller businesses across the country. SMEDAN was established in 2003 — following the “SMEDAN Act”.

SMEDAN is mandated to:

  • Stimulate, monitor, and coordinate the development of micro, small, and medium-sized enterprises (MSMEs)
  • Develop and implement policies favorable to the growth of MSMEs
  • Engage in capacity building
  • Help MSMEs get access to credit and other forms of funding

A well-developed MSME sector — is seen as a way of combating poverty and is the key to Nigeria’s prosperity. Accordingly, in its role as the “champion” for small businesses, the SMEDAN  loan can be considered as an important driver of the Nigerian economy.

SMEDAN fulfills its role in facilitating the development of small businesses — through its headquarters in Abuja, and numerous other offices spread throughout the country.

SMEDAN  loan collaborates with a number of partner institutions like the Bank of Agriculture (BOA) and the Bank of Industry (BOI).

Funding and types of loans available through the Small and Medium Enterprises Development Agency

Generally, SMEDAN does not directly provide loans to businesses. Instead, SMEDAN acts as a middleman — connecting eligible MSMEs with suitable loan providers.

There are programs where SMEDAN loans partner with other government agencies, such as the BOI and the Central Bank of Nigeria (CBN), in providing credit to small businesses.

Having said this, SMEDAN primarily sticks to entrepreneurship training and business development, with the disbursement of loans — being handled by other institutions e.g. BOA, BOI, CBN etc.

As well as loans from the public sector, SMEDAN loans can also assist small businesses in accessing credit from the private sector. For example — commercial banks, finance houses and microfinance banks.

Qualifying for a SMEDAN Loan

All MSMEs are eligible to get a loan, via one of SMEDAN’s many initiatives. Usually, the main requirement is that you have a registered business. Nonetheless, unregistered businesses can still apply — getting registered at a later stage.

If applying for a loan from a commercial bank, in addition to needing to be a registered business, the bank will have its lending criteria. SMEDAN  loan can help make you aware, of the main lending requirements — of most commercial banks.

How to Apply for a SMEDAN Loan

There are two ways to apply for a loan through SMEDAN. Firstly, you can apply to one of SMEDAN’s training programs. Secondly, you can use SMEDAN’s credit information portal — before going on to directly apply for a commercial bank loan.

Applying through SMEDAN

To get a loan, you can apply or register to be part of one of several SMEDAN-sponsored initiatives. These programs typically involve, you being trained on one or more aspects of the business.

Registration can involve visiting a SMEDAN office near you. There you would complete an application form, and may subsequently be invited to a course or training program.

SMEDAN also has a new MSME registration portal, where you can register online.

Upon satisfactory completion of a course — some programs involve you either getting a conditional grant, to start or expand your business, or you being given a soft loan. These soft loans normally come with lower interest rates attached, and will often require no collateral.

Regardless of if you are given a grant or loan — you would usually be required to either already have a registered business, or be encouraged to register (as part of the program). The Corporate Affairs Commission (CAC), is in charge of registering businesses in Nigeria.

Depending on the type of business you have, you may also need to register with the Standards Organization of Nigeria (SON) and the National Agency for Food and Drug Administration and Control (NAFDAC).

A business plan would also need to be produced — detailing how and what you will use the money for.

Using SMEDAN’s Credit Information Portal: Before Applying to a Commercial Bank

SMEDAN has a Credit Information Portal — that can be useful for those wanting to apply for a commercial bank loan.

Essentially, this portal is a database of credit facilities — that are potentially available to MSMEs in Nigeria.

On this portal, you can find basic information about lenders, how much you can borrow, loan repayment periods, and interest rates.

As well as a business loan, there are 3 other credit options — personal loans, mortgage loans and credit cards.

The portal has a search function, where you are matched to appropriate lenders — based on the details you provide. However, with this online platform, you cannot instantly apply to a lender. Instead, you will need to apply directly — with the financial institution in question.

Think of the SMEDAN credit portal, as more of a credit information resource — rather than a means of applying for a loan.

SMEDAN Loan Application Checklist

A checklist of what is required, before a loan through SMEDAN (or a commercial bank) is approved — could include:

  • Completed application form
  • Business plan
  • Cash flow budget
  • Certificate of Incorporation
  • Valid means of identification (driver’s license, passport, voter card)
  • Proof of address
  • Details of collateral offered (if any)

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