SMEDAN SELECT Program 2024 Free Application Guide
Here, we shall be discussing the SMEDAN SELECT Program and how you can take part in the programme. Kindly ensure you read through this post till the end to see how you can apply and the requirements for the program.
SMEDAN SELECT Program 2024
The SMEDAN SELECT Program stands for Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Strengthening Entrepreneurship and Livelihoods in Challenging Times (SELECT) Program. It’s an initiative aimed at supporting small and medium-sized enterprises (SMEs) in Nigeria by providing them with various forms of assistance to enhance their growth and sustainability, particularly during challenging economic times.
The SMEDAN SELECT Program is an initiative of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) designed to provide financial support to small and medium-sized enterprises (SMEs) in the country. The program aims to address the challenges faced by SMEs in accessing finance, which is often a major barrier to their growth and development.
The program is deliberately designed to promote top-quality Made-in-Nigeria products across various sectors. It will also give more opportunities for investors and SMEs in the country. If you are into production in Nigeria then you need to consider this opportunity.
Under the SMEDAN SELECT Program, SMEs can apply for loans of up to ₦50 million at an interest rate of 9% per annum. The loans are provided through participating commercial banks and microfinance institutions, which are selected based on their capacity to provide financial services to SMEs.
To be eligible for the SMEDAN SELECT Program, SMEs must meet certain criteria, including being registered with the Corporate Affairs Commission (CAC) and having a valid business plan. The program also places emphasis on supporting SMEs in specific sectors, such as agriculture, manufacturing, and services.
Before you go ahead with the application, ensure you possess the requirements for the program. Application is typically online, kindly visit the SMEDAN SELECT Program portal. Fill and submit application form online with your correct details.
The SMEDAN SELECT Program has been instrumental in providing financial support to SMEs in Nigeria, enabling them to expand their operations, create jobs, and contribute to economic growth. The program has also helped to improve the financial inclusion of SMEs, bringing them into the formal financial system and reducing their reliance on informal sources of financing.