Starta Nigeria is an organization that is concerned with helping businesses with loans.
The aim of starta, as the name suggests, is to provide start-up loans for small businesses. Starta also provides loans for small businesses that are in operation already.
Starta has been in existence since 2005. It had a different name before it was changed to Starta. It started online operations in 2020 with the domain name starta.ng. There, one can borrow loans for one’s business.
To be entitled to Starta’s loans, you must earn your eligibility. The basic criterion for being eligible is age. Other criteria include the Nigeria national ID, and the business must have existed for five years.
Starta Nigeria offers two categories of loans. The first category is for companies or businesses not registered officially under the CAC. Businesses under this category would not have access to a higher amount of loans.
The other category is for companies that are officially registered under the CAC. Businesses like this have access to bigger loans up to 10,000,000 naira.
Starta’s loan terms
The amount borrowed is repayable within five years with an annual interest rate of 6%.
For Starta loans to be approved and disbursed, it takes some time. The period it will take can vary, depending on different situations. According to Starta, some loan processing may take up to a year while others won’t take more than 3 weeks.
In summary, it help small-scale businesses to obtain loans and repay later. Starta Nigeria also includes some benefits to loans offered. These benefits include access to guides on how to make successful business plans.
With the company, you can access other opportunities when you obtain a loan. With this, you do not only obtain a loan. You have also become a partaker of Starta Nigeria benefits. Its not a bad idea to start your business taking your a loan.