Opening a business account is entirely different from a personal business account based on the documentation process and requirements. To successfully obtain a business or corporate account in Nigeria, you need to register Your business with the CAC. This demonstrates credibility on your path as a long-standing business. Like most traditional banks, the process is […]
Business owners often scavenge for the ideal business account to meet their business needs. It’s pertinent you open a business account that aligns with your financial goals and helps you manage your finances with tailored features. In this short guide, we cover 5 online business banks for small and medium-sized businesses in Nigeria. Before introducing […]
Fixed Investment account provide an avenue for business owners to utilize their business savings and maximize their profit generation. To reap high returns on investment, business owners need to avoid critical factors that could potentially lower their chances for long-term rewards. Here are five mistakes to avoid with Fixed Investment account: Maximizing profits is an […]
Business owners are gradually warming up to acquiring debt to withstand market volatility. While it’s common knowledge that all types of debt are bad, you can access loans to grow your business. This is also known as leveraging good debt for business growth. In this article, we’ll highlight critical areas you can utilize loans to […]
Don’t be afraid of debt. Many entrepreneurs and businesses are utilizing debt to their advantage. Understanding debt and how you can use “good debt” to scale your business is what this article is about. When used wisely good debt can be a powerful strategy that contributes to business growth and long term business success. What […]
Every business needs money to survive. So many things hang on the availability of capital and without it, it is almost impossible to make progress. For many that can not access this capital from either personal purse or their business account, business loans will forever be a lifesaver. How exactly can a business loan […]
As 2023 gradually closes, it is time to prepare for a prosperous 2024. As the preferred SME financial partner, we are committed to helping businesses prepare for financial opportunities that await them in the upcoming year. This is why we are introducing the ‘Get Set 24’ initiative. As we gear up for 2024, one crucial […]
If you’ve been considering taking a loan, we are here to support you. Our goal is to make credit accessible and tailored to your needs. However, the loan amount you can qualify for is closely tied to your credit history and financial capacity. Here’s how you can increase your chances of securing the loan amount […]
Credit limits have been increased. Eligible businesses can now apply for up to ₦10,000,000. One of the elements that significantly increases your eligibility is a good Prospa Credit score. A good credit score reflects your financial responsibility and demonstrates your ability to manage debt effectively. As part of our commitment to responsible lending, we prioritize […]
The saying “cash is king” may soon be a thing of the past in Nigeria as CBN has set a maximum limit for cash withdrawals. In a circular addressed to all banking institutions, the Central Bank of Nigeria (CBN) set a maximum limit for over-the-counter withdrawals to N100,000 a week for individuals and N500,000 a […]
