get a business loan

Starta Loan – How to get a business loan from Starta

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Because of how bad the economy is, Nigerians can’t wait for white-collar jobs. They must start their own businesses instead. It’s hard for many people who want to start their own businesses to get the money they need. But you can fix this by getting a loan from Starta.

This article tells you how to get a business loan from Starta and a few other important things.

Starta Loan

A Brief Look at Starta Loan

Starta loan was started in 2020, and its main goal is to help small businesses get loans. Most of the time, they give first-time borrowers a small loan, and as they pay it back, their loan limit goes up. Also, the Starta platform helps businesses by giving the people who run them good advice. This platform also sets up training for entrepreneurs to teach them how to grow their businesses and run them well.

What kind of loans does Starta provide?

Most of what this loan platform has to offer are loan services. In general, they offer two kinds of loans to business owners. Among them are:

1. Non-registered business loan

Loans for businesses that aren’t registered with the Corporate Affairs Commission are called Starta non-registered business loans (CAC). Businesses can get between #100,000 and #1,000,000 from this type of loan.

2. Registered business loan

The Registered Business Loan is for businesses that have already registered with the Corporate Affairs Commission (CAC). Here, you can get a bigger loan because your business is registered with the right people.

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How can I apply for a Starta loan?

If you are interested in applying for a loan, follow these steps below:

  1. Visit the link, https://starta.ng
  2. Next, apply for your loan by filling the application form
  3. Wait to get a response from the Starta team

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What documents do I need to apply for a Starta Loan?

To apply for a non-registered business loan, the platform needs your personal details like your name, phone number, email address, and your business details.

On the other hand, to apply for a registered business loan, they need your personal and business details, such as your cash flow and income statement.

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What are the loan duration and Interest rate?

Starta loan is very flexible. Basically, the payback duration can be as long as five years, depending on how much loan you took. The interest rate on your loan is 6% per year based on the loan amount you request for.

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How long does it take Starta to approve and disburse loans?

Starta is quite slow at authorizing loans. This is because they have to verify all your documents to make sure that they are legit. Your document verification can take weeks and may even take some months. However, once Starta approves your application, that will disburse it within a few minutes.

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What are the eligibility requirements to obtain a business loan?

To obtain a loan from this platform, you must be eligible by meeting these requirements:

  1. You must be a Nigerian citizen who lives in Nigeria.
  2. Have a valid ID card
  3. At least  18 years old
  4. Lastly, your business should be less than 5 years old.

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How can I contact Starta Loan?

You can contact Starta Loan through their official website. Here is a link to the website:

Website: www.startaloans.com

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