SMEDAN loans gives you access to borrow money online up to N5million with low interest rate, with a maximum repayment tenure of 4 months with no collateral. Here's everything you need to know about SMEDAN, how it works and how you can easily borrow funds to finance your business.

About SMEDAN Nigeria

SMEDAN which stand for - small and medium enterprises development agency of Nigeria. is a government-backed initiative that offers quick loans to Nigerian Small and Medium Enterprise (SME) businesses in need of funds.

Since it's inception in 2003, the core mission of SMEDAN is to promote entrepreneurship spirit among Nigerians and also provide fund's to start the business.

Aside funding, they also provide business owners with free training and support for smooth running of their business. This move was initiated by the need to make credit products easily accessible to entrepreneurs and investor's.

Please note, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) does not necessarily provide the loan on it's own. While they occasionally disburse loans themselves, they only act as the link between Micro, Small and Medium Enterprise (MSMEs) and loan provider's.

SMEDAN loan providers are financial institutions near you. Some may include government-funded agencies, micro-finance bank, commercial Banks, industry and MSMEs funds provided by the central bank of Nigeria (CBN). SMEDAN works with them and provide loans through the credit information portal (CIP). Learn more about the CIP here.

Table of Contents
  • How SMEDAN Loan Application Works
  • SMEDAN Loan Requirements
  • SMEDAN Loan Packages
  • How to apply for a loan on SMEDAN
  • Interest Rate
  • Loan Limits
  • How to repay a SMEDAN Loan
  • How We Reviews SMEDAN Loans in Nigeria
  • Contact Details
  • SMEDAN Head Office
  • Conclusion.

SMEDAN Loan: How it Works

SMEDAN works in the following ways:
  1. Visit SMEDAN information portal.
  2. Select the loan type by choosing the loan that best suits your need.
  3. Fill in your profile and provide basic information on your loan needs.
  4. SMEDAN will engage in a loan search based on the provided information.
  5. Receive information on the choosen loan provider and know your requirements
  6. Apply for loan
  7. Loan disbursement take place within 24 hours directly to your bank account.

SMEDAN Loan Requirements

  • You must provide any valid means of identification.
  • Bank statement of account for the past 6 months.
  • Audited financial statements.
  • Bank account.
  • You must not be less than 20 years or above 60 year's.
Note: SMEDAN do not provide loans directly, but act as a link between MSMEs and loan providers. So loan requirements may vary.

Loan packages offered by SMEDAN Nigeria


SMEDAN offers different types of loans that suits your needs, such as:

SMEDAN personal loan

Personal loan is a loan needed to take care of wanted or unwanted personal issues such as, to help finance your business, unwanted medical issues, plan for a vacation, weeding and so on.

Personal loans on SMEDAN are provided by financial institutions near you. Some may include government funded agencies aimed at improving economy and acquiring power.

SMEDAN Business Loan

A business loan is a loan needed to start-up a business or to help finance/bolster your business and SMEDAN is a platform suitable for you. You can apply and get up to N2million with no collateral and repay at your convenience with a minimum repayment tenure of 30days.

Business loans on SMEDAN are provided by financial institutions including microfinance banks close to you, commercial banks, industry and MSME funds provided by the central bank of Nigeria.

SMEDAN Mortgage Loan

Mortgage loans are created to assist you, by giving you funds to acquire/purchase a property or real estate of your choice.

Mortgage loans on SMEDAN are provided by financial institutions in Nigeria, mortgage Banks, housing schemes supported by the federal government of Nigeria (FGN).

SMEDAN Credit-Card Loan

Credit card loans is also known as quick cash loan, they are small fund's needed to take care of quick and urgent issues.

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How to apply for SMEDAN Loan

Follow these steps to successfully applied for a smedan loan:
  1. Visit SMEDAN credit information portal here
  2. From the loan packages provided, select the type that suits your needs.
  3. Register/ create an account by providing correct answers to the questions asked during registration. Such as purpose of loan, age, employment status and how much you need.
  4. Click on "check availability" once you have filled in the required information. In other to see the loan options available to you based on your provided information.
  5. The provided result would display the different loan options with their requirements, repayment tenor and interest rate. Go through them and check out the one that is suitable for you.
  6. Click on the "view details and apply" button which would redirect you to the "get started" option, click on it and commence your loan application.

SMEDAN Loan Interest Rate

SMEDAN delivered no fixed interest rate because the loans are provided by different financial institutions. But one thing is certain, SMEDAN prioritized loans with small interest rate.

SMEDAN Loan Limits

Their is no limit to what you can borrow on SMEDAN, but the minimum amount of funds you can borrow is N100,000 with a repayment tenor of 4 - 12 months.

How to repay a SMEDAN Loan

SMEDAN do not offer loan repayment option because they are not the ones giving out loans. But on your loans due date(s) those financial institutions that offers you loan will send you a notification reminder telling you how you can successfully repay your loans.

Please note, it is advisable to always check your loans repayment options when accepting a loan from any financial service providers that offers loans through SMEDAN.

SMEDAN Location in Nigeria


SMEDAN loans are currently available in few selected states in Nigeria such as: Abuja, Lagos and Kaduna. Although, loan applicants from other states in Nigeria can also apply under the "all states" menu. Select it and if your State is approved you can proceed with the loan application.

How Reviews SMEDAN Loans in Nigeria

  • Overall Score - 4.1
  • Affordability - 3.8
  • Availability - 4.0
  • Customer Experience - 4.3

Please note: All reviews are prepared by, opinion expressed therein are solely based and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review

SMEDAN Loans Contact Details

For more informations, please contact SMEDAN on +2348071320380+2348071320180 or you can quickly get in touch by sending a mail at

SMEDAN Nigeria Head Office

35, Port-harcourt Crescent, Area 11, Garki, FCT-Abuja, Nigeria.


SMEDAN loan is a government back financial institutions that offers loans to SMEs in Nigeria. So feel free to seek for a loan from them by selecting any of it's loan packages that suits your needs.

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