Flutterwave’s business model thrives on the success of businesses registered on their platform and using their platform to make and receive payments, the more businesses use Flutterwave to process payments the more revenue they generate. so in a bid to expand their horizon, they’re making it easier for business owners to access the funds they require to grow their businesses. Business owners can expand, increase inventory, hire more labor, pay bills, run marketing campaigns, and ultimately grow revenue with these funds.
Flutterwave partnered with lending partners—CashConnect Microfinance Bank, MoneyWise Microfinance Bank, Wema Bank, Zenith Bank, Stanbic IBTC Bank, and Sterling Bank to provide loans for business. Simply put With Flutterwave business Capital, businesses registered on Flutterwave can easily access loans without collateral, cumbersome documentation, and other stringent terms and conditions experienced with other financial institutions. Getting loans from Flutterwave Capital is fast, and eligible applicants can access the funds they need in less than 2 business days.
Benefits of Flutterwave Capital
Seamless Access: Knowing how stressful loan applications can be, Flutterwave made accessing business loans very seamless. No collateral is needed no cumbersome paperwork and no stringent conditions. You only need to check your eligibility and apply and you’ll get the funds in less than 2 business days.
Affordable Pricing: The loans are based on a Reducing Balance Rate which means interest is recalculated based on the outstanding loan balance.
Easy Repayment Structure: Repayment is easily processed with an automated deduction of a percentage of daily sales, at a maximum rate of 25%.
How to apply for Flutterwave Business Capital/Loan
To access loans from Flutterwave Capital, this is what you need to do:
- Confirm Your Eligibility: Visit your Flutterwave dashboard to confirm your eligibility. If you’re eligible, you will see available offers.
- Choose Offer: When you see the offers, choose an offer that best fits your business needs. Once you choose an offer, you’ve automatically applied for a loan.
- Receive Funds: your loan offer will be reviewed and the money will be paid into your Flutterwave Business account in 1-2 business days.
How to be eligible for Flutterwave business Capital/Loan
Flutterwave determines your eligibility for a loan offer based on a variety of factors related to your Flutterwave for a business account, which one is your processing volume. As a Flutterwave client, your loan eligibility is automatically reviewed. In fact, your business for loan offer eligibility is being reviewed daily. So you don’t have to apply for you to be eligible for a business loan. If you become eligible, you’ll receive an email and you can view your offer on the Dashboard under the Capital tab. Here are the minimum eligibility requirements:
- Be a Flutterwave client: you use Flutterwave services on a daily basis.
- Be Based In Nigeria: For now, Flutterwave Capital only supports businesses located or incorporated in Nigeria. Business merchants in South Africa, Kenya, and our other operating markets will soon get access to this solution.
- You must have processed payments on Flutterwave for at least 3 months.
- Be in good standing with Flutterwave Capital: If your business previously applied for a Capital loan and was rejected, you would be ineligible to receive a new loan offer for 30 days.
- A growing business: The size of your loan offer is determined by how much you process through Flutterwave. Businesses that process high volumes through Flutterwave are more likely to be eligible for an offer.
- A consistent processing record: A consistent and reliable processing record with little periods of low or no volume indicates a stable business which increases the possibility of getting a loan offer from Flutterwave Capital.
- A low dispute rate: Businesses with low rates of unresolved chargebacks are more likely to qualify for funding.