The Nigerian Small and Medium Enterprises Development Agency (SMEDAN) has launched a credit information portal (CIP). This portal provides a collection of information that assists entrepreneurs in making informed decisions when seeking loans and credit from local financial institutions.
The credit information portal serves as a storehouse of information about various financing providers and their terms and conditions for getting financial aid. Personal, Business, Mortgage, and Credit loans are available through the website.
Whatever loan category you select, you will go through a four-stage process before you can access the appropriate information. The first stage entails choosing your preferred loan type (Personal, Business, Mortgage, or Credit), which leads to the second stage, in which you fill out a simple form to search for the loan from stage one. The third stage displays a selection of loans that fit your search parameters, and the last level allows you to view the contact information for your preferred loan.
As regulations may vary, SMEDAN urges business owners to get specific information from each financial institution. The company’s certificate of incorporation, audited financial statements, and bank account statements are the typical documents that are sought.
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Kaduna, Lagos, and Abuja are the only cities in which the service is now available. After the initial phase, the program will be extended to other regions of the nation.
Visit https://cip.smedan.gov.ng to acquire information and start the loan application process if you’re interested.
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