The current status of the Nigerian economy necessitates that Nigerians engage in entrepreneurship rather than seek white-collar employment. Many entrepreneurs find it challenging to finance their businesses due to the current economic condition. Nonetheless, this issue can be resolved by obtaining a Starta loan.
This page describes how to get a business loan from Starta as well as other pertinent information.
A Review of Starta Loan
Starta loan was founded in 2020 with the primary objective of offering small business loans. Typically, they provide first-time borrowers a small loan, with the credit limit increase as regular payments are made. Additionally, the Starta platform assists enterprises by providing business owners with reliable guidance. In addition, this platform provides entrepreneurs with training in business growth and management.
What Loan Types Does Starta Offer?
This platform basically provides loan services. Essentially, they offer two types of loans to entrepreneurs. They consist of:
1. business loan for non registered business
The Starta non-registered business loans are loans for unregistered firms (CAC). The typical range for this type of credit is between £100,000 and £1,000,000.
2. registered commercial loan
The registered business loan is for registered firms with the Corporate Affairs Commission (CAC). Here, you are eligible for larger loan amounts because your firm is registered with the proper authorities.
Borrow up to N100,000 at the most reasonable rates in Nigeria.
Did you know that you can now compare interest rates from many lenders and find the best deal with our loan simulator? Before making a commitment, it is necessary to compare several loan offers in order to make an informed lending selection. Through our simulator, you may view loan offers from multiple lenders in less than 5 minutes, allowing you to make an informed decision about your finance. Try it now!
How do I request a Starta loan?
Follow the steps outlined below if you are interested in applying for a loan.
1. Navigate to https://starta.ng/
Next, submit your loan application by completing the application form.
3. Await a response from the Starta staff
Starta loan interest rate
The Starta loan is highly adaptable. The repayment period can be as long as five years, depending on the amount of the loan. Your loan’s interest rate is 6% per year, based on the requested loan amount.
How quickly does Starta approve and disburse loans?
Starta is notably slow at approving loans. This is because they are required to check the legitimacy of your documents. The verification of your documents can take weeks or even months. However, once Starta confirms your application, the funds will be transferred within minutes.
Requirements
To submit an application for a non-registered business loan, the platform requires your name, phone number, email address, and business information.
To qualify for a registered business loan, however, they require your personal and business information, including your cash flow and income statement.
You must be a resident of Nigeria and a citizen of Nigeria.
- Have a valid ID card
- Minimum age of 18 years old
Conclusion
Numerous business owners will at some point want a loan to finance their enterprise. Fortunately, this is not a major inconvenience. Starta makes obtaining a loan for your business simple and stress-free. Starta offers loans to both registered and unregistered Nigerian enterprises. Adhere to the aforementioned instructions to obtain a loan for your business in no time.
Using this platform, you can acquire a complete loan that is suited to your unique circumstances. Essentially, it allows you to evaluate loans from several lenders in Africa, ensuring that the best option is not overlooked.
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