Running a business can be unpredictable. Sometimes you need extra cash to keep things moving smoothly or to grab a new opportunity. That's where our Working Capital Loan comes in handy.
What's good about it?
Quick access to money for immediate business needs
Use the funds how you need to
Build up your business credit
Keep full ownership of your business
Potential for an ongoing financial partnership with us
Who can benefit?
All sorts of businesses can use this loan:
Shops and online stores
Manufacturers
Service providers
Seasonal businesses
Startups and small businesses
And many more!
The details:
Loan amount: Usually between ₦1,000,000 to ₦5,000,000, depending on your business
How long you get the money for: Usually 6 to 12 months
Interest rate: 30-35% per year, based on our assessment
How you pay it back: Monthly payments of both the loan and interest
Collateral: Might not need any for qualified businesses, but we often need personal guarantees
How it works:
You apply for the loan (email [email protected])
We take a good look at your business
We agree on the loan terms
We send the money to your account
You use the funds for your business needs
You make monthly repayments
Things to know:
Who can apply?
Businesses running for at least 6 months to 2 years
Must show you can afford the repayments
Good credit history for the business and owner(s)
Following all the rules for your industry
What we look at:
How your business works and how it compares to competitors
Your financial statements and cash flow
Experience and skills of your management team
What's happening in your industry
What you can use the money for:
Buying stock
Paying for day-to-day expenses
Marketing and advertising
Small equipment repairs or upgrades
Covering seasonal cash flow gaps
Repayment:
Fixed monthly payments to help you budget
You can pay it off early without extra fees
Security and collateral:
Might not need any for smaller amounts and lower-risk businesses
We often need personal guarantees from business owners
Might use business assets as collateral for larger amounts
Building a relationship:
Possibility to renew or increase your loan if you pay well
Chance to build credit history for future loans
Fees:
Processing fee: Usually 1% of the loan amount
Late payment fees might apply
Support:
We'll check in regularly to see how you're using the funds
We might be able to offer business advice to help you succeed
Ready to give your business a boost? Email [email protected] and let's get started!