One of the yardstick to measure the growth of a country is the number of SME in that country since the higher the number of SME the higher the GDP per capital, this is why government of Nigeria is doing everything possible to increase the number of SME in Nigeria, one of this is loan disbursement but as you can see the effort is not enough if not for company like Starta that augment the effort by giving out a business loan.
Starta.ng was founded in 2020 with the sole aim of giving loan to small business, as a first timer the loan you can access will be small but as you pay back regularly you will move up the ladder and access more loans.
Starta does not only give out loan they also help business with support such giving advice and training how to grow a business and other challenges faced by entrepreneur.
Types of loan offer by Starta
There are two kinds of loan offer by Starta ng and they are
Non registered business loan
This loan if for business that has not register with Corporate Affairs Commission (CAC), the loan Starta give to this kind of business ranges from #100,000, #1,000,000.
Before applying you need to get your personal details such as name, email address, phone no and business details ready.
Registered business loan
This is for business that has registered with Corporate Affairs Commission, the loan here is more than that of non-registered business, here the loan ranges from #100,000 to 10m naira.
Before applying you need to get your personal details, business details such as income statement and cash flow ready.
Interest rate and payback period
Starta loan is one of the flexible loan in Nigeria, the payback period is in months and can be a s long as five years with interest rate of 6% per year depending on the amount of loan request for
How long does it take to approve and disburse loan
Starta is slow at approving loan, they will check all your document and this can take weeks and sometime months before they will be through but once they approve your loan it will be disbursed in minutes.
I’m I eligible for starta business loan?
Yes, as long as you are a Nigeria and reside in Nigeria, have ID card, you are above 18 years old, your business is less down 5 years.
Benefit you get from Starta business loan
As I stated in introduction Starta loan exist to help you grow your business they do not only help you with loan they also do the following
They provide guidance you need to scale your business
You have opportunities to meet with like-minded or mentor
An experience entrepreneur will work with you for 3 months
Business advice helpline that you can always call when things goes south
Conclusion
If you are looking for best business loan in Nigeria Start a business loan is the go to.
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