Get Carbon Business Loan, compare and pay less
Obtain up to ₦10m Carbon SME Finance loan for your business without collateral with a flexible weekly repayment model in 6 months tenor.
₦300k – ₦10m
Calculate your Carbon Business Loan for SME Repayment
About Carbon Business Loan for SME
Carbon business loan provides credits for your small and medium scale enterprise with funds you require for operations.
The summary terms you need to understand are
You can request for funds starting from ₦300, 000 to a maximum of ₦10, 000, 000.
The interest rate on loan you will pay monthly is 5%.
Your total repayment length will not exceed 3 months but account deduction is on a weekly schedule.
Carbon Business Loan for SME Terms
Here are broader terms you need to understand depending on the type of your business before applying for this Carbon SME loan
The minimum loan amount is ₦300, 000, the maximum amount you can access is ₦10, 000, 000 with the below interest rate:
- New Customers: 5%
- Returning Customers: 4%
The maximum tenor is 6 months as the Carbon business loan is a short term facility with the repayment model being weekly. Though for new businesses, you can have a maximum of 3 months tenor to repay your first loan completely.
If you own a business with the required documentation, you can apply for up to ₦10, 000, 000 Carbon business loan via its digital channel. Other things you need to know are:
- Your SME is officially registered with the Corporate Affairs Commission
- You require an account with Carbon
- Your business also has an active account with another financial service provider and your account statement should be able to prove this
- You should have a good credit report from any credit bureau. It increases your chances of accessing the Carbon business loan for SME
- Your business must not have any pending loan from another provider.
- Your business has at least a monthly revenue of ₦1, 000, 000
- You will need to provide your bank verification number
- A government-issued means of identification is also required for loan processing
How Carbon Business Loan for SME Compare to Other Lenders
₦50,000 - ₦3,000,000
₦3,000,001 - ₦10,000,000
3% - 4.7%
₦250,000 - ₦5,000,000
3% - 6%
₦500,000 - ₦20,000,000
₦300,000 - ₦20,000,000
₦300,000 - ₦20,000,000
₦300,000 - ₦30,000,000
₦50,000 - ₦10,000,000
4% - 10%
₦500,000 - ₦6,000,000
6% – 30%
₦100,000 - ₦1,000,000
₦250,000 - ₦10,000,000
₦500,000 - ₦20,000,000
₦300,000 - ₦10,000,000
2.75% - 4%
₦20,000 - ₦10,000,000
₦30,000 - ₦5,000,000
5% – 25%
₦50,000 - ₦6,000,000
₦100,000 - ₦4,000,000
₦100,000 - ₦3,000,000
₦150,000 - ₦20,000,000
Options to Carbon Business Loan for SME
Carbon SME Finance loan is one of the easily accessible credit facility for businesses as you do not have to own some period of existing account with the fintech firm.
So, provided you can show evidence that your SME exists and have been active with a bank account for at least six months, you can apply for this Carbon business loan.
As a tip to being successful for this credit facility, consider the best account for your business. One with a better history stands a higher chance of improving your eligibility.
While the terms seem light compared to some lenders, you might not be qualified to get the needed funds for your business after credit score checks.
If you are not considered, there are other lenders that can help with the funds you need for your business operation.
How to Apply for Carbon SME Finance Loan
This provider is a digital lender, meaning you will not need to visit a physical location before you can forward your interest for this loan.
Through its SME dedicated solution, you can fill in and submit your application accompanied by the necessary documentation for your business and feedback will be provided after 48 hours.
Applying for a Carbon business loan takes a few steps. Below are the processes you can use to access the credit facility:
- Apply directly here or simply create an account on the Carbon SME portal
- Fill in the required personal details as well as that for your business (you should have your business’ Corporate Affairs Commission documents ready as well as your nationally recognised identifications)
- Once you have set-up and the required validation is complete, you can start your application
- Submit for processing and wait for feedback
Approval for the Carbon SME Finance loan is dependent on the eligibility check on your business account. The maximum you can access could also be based on your monthly business revenue.
Once the checks are done and your business is eligible, your account will be credited with the needed business loan amount requested at the time of your application after the waiting period of 48 hours.
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