Last Updated on January 6, 2022 by Ope Quadri
In the last 12 months, we’ve seen government commitment in the areas of financial supports for Small and Medium Enterprises in Nigeria. Nigeria’s government does this by making available SMEs loan opportunities and grants.
One of the agencies of the Federal Ministry of Industry, Trade, and Investment that do this is the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
In 2020, SMEDAN opens N5m loan application portal for small business owners across the country. In case you don’t know, you can get government grants through SMEDAN, but you must be registered and have a SMEDAN Unique Identification Number (SUIN).
Getting access to a loan requires you to meet some requirements. You don’t really need collateral most especially when it’s an unsecured loan.
Even at that, you still need to put some documents together for your loan – government or banking – to be granted.
In this post, we’ll share with you how you get a registration number for the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
SMEDAN is one of the agencies of the Federal Government with the purpose of supporting loan applications and funding for small businesses.
A few months ago, SMEADN launched a registration process for Micro, Small, and Medium Enterprise that operates in Nigeria.
The registration exercise is to enable it to use the database in the nearest future in providing funding, training, empowerment, and other facilities to MSMEs.
It also hoped to use it as a reference to link businesses to lending institutions in the private and public sectors.
Benefits of Being on the SMEDAN Database
If you register your business on SMEDAN database, it gives you access to some of the following benefits, if not right now, could be in future opportunities:
1) You will have access to Financial Services
2) You will get access to Business insurance
3) Getting SMEDAN Registration Number will ease your access to loans and grants from governmental and private organizations.
4) You will get access to entrepreneurship training
5) You will get access to educational content which is designed by SME professionals
6) You will get access to private investment opportunities.
7) Priority is also given to SME which has SMEDAN registration number when funding opportunities arise from International Donor Agencies.
8) And finally, you will get SMEDAN Unique Identification Number (SIUN) and digital Certificate
Who can get SUIN?
Whether your business is registered by the Corporate Affairs Commission (CAC) or not, you can register on the SMEDAN portal as long as you operate any form of business in Nigeria.
NOTE: Most times, priority is given to businesses that are registered by the CAC.
It’s time to get registered on the SMEDAN registration website
Step 1: Head straight to smedan registration portal at smedanregister.ng/register
Step 2: Fill in the following details:
- Business Name
- Phone number
- Business premises you operate from
- Business type
- Product or Service
- Are you registered with CAC?
- Business by assets value
- Number of staff
- Business Owner Information
- Business address
Step 3: Follow other processes to complete the process
Step 4: Upon verification, your SMEDAN Unique Identification Number (SUIN) will be sent to you.
How to retrieve a misplaced SMEDAN Unique Identification Number (SUIN)
- Log in to the email you used for registration
- Go to your inbox
- Search for the SMEDAN email that confirms your registration
- Ope the mail to find your SUIN
SMEDAN was created to help you and your business irrespective of how small it is by providing you with the right tools for faster growth.
We urge you to register your business and join thousands of Nigerians who are already enjoying loans and funding benefits.
Ope is the Head of Content at InfomediaNG. He’s a researcher whose interests cut across real estate investment, stocks, financial technology, and youth empowerment. He’s awesome in Content Marketing and SEO. Favourite Tools: Google Analytics, Canva, UberSuggest