This study examines the nexus between macroeconomic factors and SME funding in Nigeria. It employs data for Nigeria between the periods of 1994-2023. The specific aim of the study is to examine the impact of Macroeconomic factors on SME funding in Nigeria. The study employed the Ordinary Least Squares (OLS) technique and the Granger Causality approach to check for the possibility of a causal relationship between SME funding, and Economic growth. The result of the study revealed the following: selected Macroeconomic factors such as Real Gross Domestic Product, Gross fixed capital formation as a percentage of GDP have a negative and significant impact whereas Exchange rate has a positive and significant impact on SME funding [proxied as commercial bank loans to SMEs];Interest rate and Gross fixed capital formation as a percentage of GDP have a negative but significant impact on SME funding [proxied as commercial bank loans Total credit to Private sectors] and finally, Interest rate, Inflation rate and Gross fixed capital formation as a percentage of GDP have a positive and significant impact on SME funding [proxied as Commercial Bank Loans to SME as a percentage of Total Credit]. This suggests that Gross fixed capital formation as a percentage of GDP is a key or vital determinant of SME activities. Finally, the result shows a uni-directional causality relationship from SME funding to Economic growth. The study recommends careful considerations on the use of monetary policies instrument in increasing or ensuring the availability of finance or funds to small and medium scale Enterprises.