KINDLY Apply: SMEDAN Launches Easy Access To Over N1 Million Loan Facilities For Entrepreneurs, MSMEs // SMEDAN CIP Portal

The small and Medium Enterprise Agency of Nigeria (SMEDAN) has launched a Portal where Business Owners especially Micro, Small and Medium Enterprises (MSMEs) owners can access loan facilities at ease.

The Agency while encouraging MSMEs owners to register their businesses and obtain a SMEDAN Certificate in 2020 assured that it would facilitate access to 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.

In view of the above, SMADAN developed the Credit Information Portal (SMEDAN CIP) https://cip.smedan.gov.ng, and partnered 50 Banks, 88 Bank Branches, providing 880 available Loan Offers, facilitated under 4 loan types: Personal Loans, Mortgage Loans, Business Loans, Credit Loans.

Most Loan Offers in the SMEDAN CIP Portal have low interest rate down to 5% rate and up to 20% high, and longer duration of 6months to 1year. This makes SMEDAN CIP a financial hub for MSMEs Owners searching for suitable loan for their Businesses. Make financial decisions and choice of funding has been made easy with SMEDAN CIP Portal.

According to SMEDAN, “the Idea of this website is to create a database of financial information in all the 36 states of the federation including the Federal Capital Territory (FCT), Abuja so as to ease up the task of sourcing for information regarding available credit facilities for Micro, Small and Medium enterprises (MSMEs).

“The Portal provides an information pool that will assist Entrepreneurs make informed decisions in getting loans and credits from financial institutions within their locations.”

Describing the objective of the SMEDAN CIP Portal, the Agency said it is meant to identify the types of credit facilities available in the financial institutions in each State; provide information if there are credit facilities specially tailored for women by financial institutions as well as the challenges faced; inform the public about available credit facilities, as well as to access the extent to which the public respond to these facilities; find out the ease of accessibility of the different categories of the available credit facilities; and identify the cost of credit for different categories of credit facilities and for each range of amount and tenure.

How to Access the SMEDAN Credit Information Portal (SMEDAN CIP)

1. Micro, Small and Medium Enterprises (MEMEs) owners must have registered their Business with SMEDAN, possess SMEDAN Certificates with SMEDAN ID “SUIN” Numbers. If you haven’t registered your Business with SMEDAN, read SMEDAN begins mass MSMEs Online Registration -Registered Businesses to have access to grants and more. Open the SMEDAN CIP link: https://cip.smedan.gov.ng

SMEDAN Mandate

The mandate of SMEDAN as contained in the enabling Act can be summarized as follows:

Stimulating, monitoring and coordinating the development of the MSMEs sub-sector;

Initiating and articulating policy ideas for small and medium enterprises growth and development;

Promoting and facilitating development programmes, instruments and support services to accelerate the development and modernization of MSME operations…

SMEDAN Guiding Principles

Outreach: We like to reach as many MSMEs as are crucial and imperative to achieve the goal of an MSME led economic growth, industrialization and job creation

Sustainability: We deliberately create exit strategies, whenever necessary to avoid over-dependence on subsidy

Impact: We are committed to delivering measurable results

Efficiency: We cherish quality service delivery by our Agency on one hand, and the MSMEs on the other, in the most cost-efficient manner….

You Can Read more https://smedan.gov.ng

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