How BizNurture makes loans without collateral work for SME funding

For a business of any size, purchasing equipment can help improve your business, make your product better or help you perform your service better. Capital may be required to buy additional equipment or replace an existing one.

Businesses also fall short on funds and need extra capital to execute tasks or other issues that might be solved with a loan.

These among many other reasons and factors are what BizNurture works towards solving in such a way that it provides short term business loans to SMEs; and without collateral. BizNurture offers a less complicated and fast lending process.

How does BizNurture work to provide funding for SMEs, online, in 48hours, and without collateral? Before that let’s go through types of loan that it offers.

Loan Products BizNurture Financial Services Offers

How BizNurture makes loans without collateral work for SME funding Pulse Nigeria

LPO (Local Purchase Order) Financing:

A financing option for small businesses that need money to meet a single or multiple job offers. So you own a store, it is a new year and you need to fill your store with new goods to ensure that you have goods to sell for the new year but you don’t have enough capital to order enough goods, the Local Purchase Order (LPO) financing is a good option for you. If this is you? then begin your application here.

Invoice Discounting:

A Financing option for small businesses to borrow money against amounts due from customers. The total sum of money due for the purchase of a good or service that must be paid by the set due date. So basically, you have provided a good or service but you are yet to get the total sum of money, you can take out a loan here from BizNurture, and payback within 1 month to 8 months.

Working Capital Loan:

You also have the option to get loans to help finance everyday operations for your small businesses. to ensure that the business is up and running at maximum capacity. These loans are not used to buy long-term assets or investments, instead, they are used to provide the working capital that covers your company’s short-term operational needs.

FemPreneur Loan:

Female Entrepreneurs, get in here, this product is designed to encourage women in business with a steady monthly cash flow. So as a female entrepreneur in Small and Medium Enterprises (SMEs) if you are ever in need of a loan you can apply here for one. You can have access to loans from ₦500,000 to ₦3,000,000.

How BizNurture makes loans without collateral work for SME funding Pulse Nigeria

Edubiz Loan:

School is in session or about to resume, students are yet to start paying fees, and you need to fix a few things here and there; maybe get books, and other school materials and equipment before school officially resume, then the Edubiz loan is for you.

This is a financing option for schools that need funds to execute a short term project or pay a one-off expense. Repayment is done termly in line with when school fees are received.

Loan Requirements

BizNurture helps to provide solutions that help alleviate the funding problem by providing funds at reasonable prices to businesses that have difficulties accessing traditional finances.

To make your application process faster, here is a list of basic documents you are required to provide.

More may be required from you, depending on the type of loan requested.

Must be 2 years or more in business
Request letter on letterhead
CAC documents
6 months bank statement
Copy of the LPO to be financed / invoice to be discounted
Copy of valid ID card
Guarantors.
If a Business Name, two 3rd parties must guarantee the business owner
If a Limited Liability Company, the MD must guarantee the loan, as well as a 3rd party.