The process of starting a business has expenses. Starta Nigeria loans are specifically created to assist in financing the next biggest thing. A start-up loan is more advantageous than letting equity go for investors or taking money from friends and family.
Starta Nigeria is a platform that provides loans to assist small and local companies with low startup capital to help them grow their businesses that grow in time.
The platform is an online start. ng was launched in the year 2020, in collaboration with Our network of partner organizations to offer entrepreneurs a greater opportunity to access loans across the country.
Starta is not just a lender who gives out loans but also helps businesses by providing guidance and instruction on to help grow your company, as well as other problems faced by entrepreneurs.
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How To Apply For Starta. ng Business Loan
What you need to do to apply is to follow just a few steps, Your application is then reviewed, and the decision will be sent to you within 2 weeks.
For a Starta loan to apply, you must be 18 years old, possess an agrarian ID, and your company must not be more than five older.
Types of Loan Offers by Starta
There are two types of loans offered by Starta ng and they are:
Non-registered business loans
This loan is intended for businesses that aren’t registered with the Corporate Affairs Commission (CAC) The loan Starta will give to this type of company is between #100,000 1,000,000.
Before you apply, be sure to have your personal information, including name address, email address, phone number, and other business information ready.
Business loan registered as a registered business
This loan is available to businesses that are been registered with the Corporate Affairs Commission, the loan is higher than the loan for non-registered businesses and the loan amount is between #100,000 and 10 million Naira.
Before you apply, obtain your personal information, and business information, like the income statement and cash flow prepared.
Rate of interest and time to payback
Start a loan is among the loan options that are flexible in Nigeria The payback time is in months, and could be as longer as five years, and an interest rate of 6% per annum dependent on how much loan is requested for
How long will it take to review and then disburse the loan?
Starta is slow to approve a loan, they’ll go through every single document, and it could take weeks or months before they are done, but once they have approved the loan, it will be granted in just a few minutes.
The benefits you can receive through Start a Business loan
As I mentioned in the introduction Starta loan exists to help you expand your business. They don’t just help with loans they also provide the following
They offer the guidance you require to grow your business.
There are opportunities to connect with other like-minded people or even have a mentor
A seasoned business owner will work with you for three months
The business advice helpline is available to call anytime things go south.
Conclusion
If you’re in search of the most effective business loans in Nigeria Get an enterprise loan is the best option.