Starting a business comes with costs. Starta Nigeria loans are specifically designed to help finance the next big thing. Securing a startup loan is better than giving equity away to investors or borrowing cash from family and friends.
Starta Nigeria is a platform that offers loans with the aim of helping local and small businesses with small startup capital to support their business which grows over time.
The online platform starta.ng was started in 2020 in partnership with our network of partners to give startup businesses more access to loans from anywhere around the country.
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.
How To Apply For Starta.ng Business Loan
All you need to do to apply with a few simple steps and your application will be reviewed and the decision will be mailed to you within two weeks.
To apply for a Starta loan, you must be at least 18 years old, hold an Nigerian ID and your business must be less than 5 years years old.
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.
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
If you are looking for best business loan in Nigeria Start a business loan is the go to.