We have continued to look at places where businesses big or small in Nigeria can get capital for their business because we understand the importance of timely access to funds for businesses.
RenMoney offers customers unsecured cash loans of up to N2.5 million for a tenor that ranges from three to nine months for new customers, returning customers enjoy longer tenor of twelve months. This available for either salary earners or self-employed a verifiable source of income is provided.
Find out more about RenMoney here
2. Adlevo Capital
Adlevo Capital is a Mauritius-based private company. They are famous in Nigeria for their investments in SOLO phones. The company provides equity and equity-linked investments in rapidly growing private companies in various stages of development.
3. Lagos Angel Network
Lagos Angel Network organises seed funders to invest in start-up businesses. It organises pitch events. At these events, pre-screened business ideas are presented to the network by entrepreneurs.
Headquartered in Mauritius, GroFin provides Small and Medium Enterprise (SME) finance/business loans in South Africa, Zambia, Nigeria and 10 other countries.
GroFin invests between 100,000 to 1.5 Million dollars in the business. Duration of finance is typically 3-8 years.
The business must be able to have a measurable impact in terms of the number of jobs supported and sustained, female ownership, female employment and semi-/unskilled labour. SMEs that provide indirect job opportunities (e.g. training, skills development) and/or environmental services (water, waste, energy, ecotourism) are also attractive to GroFin.
5. UT Financial services
UT Financial provides business loans tailored to different business needs. These are either working capital loans, stop gap loans or special purpose loans.
For entrepreneurs who want to sell to more customers, while saving on marketing costs, VConnect for Business is a marketing solution that connects businesses with over 2-million ready-to-buy customers. Unlike expensive advertising or P2P marketplaces, VConnect brings the buyers to your doorstep and helps you build a brand. All at zero cost. Find out more on business.vconnect.com