At Flutterwave, we’ve consistently shown a desire to help business owners thrive by solving problems they face; examples are receiving payments from customers across the world, selling online, creating invoices and many more. We’ve always built our products with the sole aim of helping businesses achieve endless possibilities. 

Adding actions to our desire to keep solving problems for businesses, we’re excited to announce Flutterwave Capital. Flutterwave Capital provides a business lending marketplace to support Flutterwave’s merchants in growing their businesses. This solution is powered by Flutterwave in partnership with lending partners—CashConnect Microfinance Bank, Indicina, Keystone Bank, Migo, Wema Bank, Zenith Bank, and Sterling Bank. With Flutterwave Capital, Flutterwave businesses can easily access loans without collateral, cumbersome documentation and other stringent terms and conditions. Getting loans from Flutterwave Capital is fast, and eligible applicants can access the funds they need in less than 24 hours. Before starting a business, every entrepreneur had a dream of what they hoped to achieve with their business; Flutterwave Capital not only wants to fund your dream but also help you achieve that dream.

Why Flutterwave Capital?

Access to finance is one of the major problems businesses encounter. According to the PwC 2020 MSME Survey, 22% of MSMEs said obtaining finance was their most pressing problem. In the same survey, only 15% of the businesses surveyed could obtain funds from credit facilities.  

With Flutterwave Capital, we’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 labour, pay bills, run marketing campaigns, and ultimately grow revenue with these funds. 

With Flutterwave Capital:

  • Seamless Access: Knowing how stressful loan applications can be, we’ve ensured accessing loans from Flutterwave Capital is very seamless. No collateral is needed, no cumbersome paperwork and no stringent conditions. You only need to check your eligibility, apply and you’ll get the funds in less than 24 hours.
  • Affordable Pricing: The loans are based on a business’ transactions with us, hence, they are perceived as low-risk clients to the lenders which translates to the low-interest rates charged on the loans.
  • Easy Repayment Structure: Repayment is easily processed with an automated deduction of a percentage of daily sales, at a maximum rate of 75%.

I Want Flutterwave Capital, What Do I Need To Do?

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 applied for a loan. 
  • Receive Funds: We review your offer and pay the money into your Flutterwave For Business account in less than 24 hours.

Flutterwave Capital Eligibility Criteria

Flutterwave determines your eligibility for a loan offer based on various factors related to your Flutterwave for business account, including your processing volume. We automatically review your business for loan offer eligibility daily. 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 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.

We wrote this article to help you better understand the eligibility criteria for Flutterwave Capital, do check it out. 

Frequently Asked Questions

We understand that you might have some questions about Flutterwave Capital and we’ve decided to answer some of them below: 

  • How Do I Repay My Loan?
    The loan amount due daily will be debited from your daily sales before settlement into your wallet or bank account.
  • What’s The Interest Rate?
    We will display the interest rates each of our lenders charge. For example, CashConnect MFB charges 5% per month.
  • What Happens If I Miss A Payment?
    There will be a 1% monthly penal charge on the outstanding principal after a 3-day moratorium from the last repayment due date. The daily equivalent is 0.03%, which means we’ll start calculating 0.03% daily on the outstanding principal from the 4th day after missing your last repayment due date.
  • When Does Repayment Start?
    Repayment starts the next day after the disbursement of the loan.

For more FAQs, visit here

Who Can Use Flutterwave Capital?

Currently, only Flutterwave businesses in Nigeria can access loans from Flutterwave Capital. We’re working to make Capital available to businesses in other African countries, we’ll announce once the product becomes available in other markets.

Seeing businesses thrive gives us a lot of joy; this is why we’ll continue to create solutions that enable businesses to grow and achieve endless possibilities. 

Published by Rotimi Okungbaye

Product marketer