Start or expand your business with loans, grants and government assisted support.
START OR EXPAND YOUR BUSINESS WITH LOANS GUARANTEED BY THE SMALL BUSINESS ADMINISTRATION. USE LENDER MATCH TO FIND LENDERS THAT OFFER LOANS FOR YOUR BUSINESS.
DEMSMA helps small businesses get loans
DEMSMA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions. DEMSMA reduces risk for lenders and makes it easier for them to access capital. That makes it easier for small businesses to get loans.
Counseling and education
Some loans come with continued support to help you start and run your business.
Lower down payments, flexible overhead requirements, and no collateral needed for some loans.
Protect yourself from predatory lenders by looking for warning signs.
Get N50,000 to N5.5 million or more to fund your business
Loans from financial institutions range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. Some loan programs set restrictions on how you can use the funds, so check with an DEMSMA-approved lender when requesting a loan. Your lender can match you with the right loan for your business needs.
Like seasonal financing, export loans, revolving credit, and refinanced business debt.
Like furniture, real estate, machinery, equipment, construction, and remodeling.
Lenders and loan programs have unique eligibility requirements. In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding. The lender will provide you with a full list of eligibility requirements for your loan.
Be a for-profit business
The business is officially registered and operates legally.
The business is physically located and operates in the Nigeria or its territories.
Have invested equity
The business owner has invested their own time or money into the business.
Exhaust financing options.