How do I apply for a loan on Flutterwave Capital?

We review your eligibility for loans daily and will notify you via email if you qualify. However, you can apply directly on your merchant dashboard under the ‘Capital’ tab. 

My application was rejected, can I apply again?

If your loan application was rejected, you will have to wait 30 days before reapplying.

How can I increase my chances of getting a loan?

To improve your chances of getting a loan from Flutterwave Capital, it's best to give us as much information as possible about your business. Keep in mind that:

• We mostly base our credit assessment on the number of payments you process through Flutterwave.

• If you start processing more payments through Flutterwave instead of other payment sources, you can increase your processing volume on the platform and improve your chances of being approved for a loan.

How do I repay my loan on Flutterwave Capital?

• Your loan repayment is deducted every day.

• We will deduct a fixed repayment amount from your daily collections balance before it is settled into either your Flutterwave for Business Payout balance or registered bank account. This will start 24 hours (for Enterprises) or 7 days (for Small Businesses) after the loan disbursement.

• If we can't deduct your loan repayment from your collections balance after it matures, we will try to deduct it from your payout balance or linked debit card.

What happens if I cannot repay my loan after the due date?

For enterprise businesses, a daily penalty charge of 0.01% accumulates three days after your loan matures. For small and medium-sized businesses, the daily penalty charge is 0.03% after three days of loan maturity. If our lending partner still hasn’t recovered the full outstanding debt 30 days after maturity, your loan account will be handed over to an external recovery agency for further engagement.

What is the interest rate on Flutterwave Capital?

The interest rate may vary depending on the lending partner. However, we will always display the exact interest rate charged by each lending partner after receiving your loan application.

What is the maximum loan amount available?

The maximum loan amount that you can obtain from our lending partners depends on your monthly sales revenue. If you are a small business, you may be able to borrow up to 50% of your monthly earnings. However, if you are a larger enterprise, you could be eligible to borrow up to 90% of your monthly earnings.

Will a Flutterwave Capital loan affect my credit score?

No, it won't. We base our loan offers on your transaction history and processing volume with Flutterwave. Your credit score will not be impacted by a new loan application unless you have previous loans in default.

Can I change my loan offer?

You can see loan offers from each lending partner on the Capital tab. You can borrow from any partner up to the maximum amount available. The fees and repayment amounts will differ based on how much you borrow.

How quickly will I receive my funds after accepting a loan offer?

Once you accept an offer, our lending partner will disburse the funds within one hour. Typically, you will see the funds in your Flutterwave for Business Payout balance within that same hour.

What happens when my loan offer expires?

If you choose not to accept your loan offer, it will remain available for 30 days from the date of your application. After this period, our lending partners will re-evaluate your business to determine your eligibility for another offer. Go to the 'Capital' tab on your dashboard to check if you have a new loan offer. We will also send you a confirmation email.

Can I pay off my loan early?

Absolutely. You can pay the full amount you owe, or a portion of it, at any point by clicking the 'Make Repayment' button in the Capital tab on your Dashboard. However, please note that the full interest will still be charged, regardless of whether you repay before the due date.

Can I get a new offer if I pay off my loan early?

Paying off your loan early does not automatically guarantee a new offer. We will evaluate your eligibility before extending a new loan offer.

What if my revenue slows down?

Your daily repayment amount is a set percentage of your collection's value. If your collections for the day are insufficient to cover your repayment amount, we will deduct a maximum of 75%. However, any unpaid amounts will be carried over to the next day.

Can I take more than one loan at a time?

Unfortunately, no. You have to finish paying off your current loan before accessing another one. 

How do I repay my loan?

Your daily repayment is taken from your daily sales before the settlement goes into your wallet. If there is not enough money in your settlement account, we will take the repayment from your F4B available balance or your backup card.

Please note that you have a 7-day grace period before the automatic deductions start. But if you want, you can start making repayments immediately by selecting “Make repayment” on your Capital dashboard.

Can I get a different loan amount from the offers?

Yes, you can, but acceptance will be subject to your credit eligibility.

What happens if I miss a payment?

There will be a monthly penalty charge of 1% on the overdue amount, which we will begin to charge three days after your loan becomes due.

How long is the repayment period for my loan?

Loan repayment periods vary depending on the type of business you have:

• Small and Medium-Sized Businesses (SMBs): You will have between 1 and 6 months to repay the loan in full.

• Enterprise Merchants: The loan repayment period is typically shorter, ranging from 1 to 7 days. To be eligible for an extended repayment period, you will undergo a profiling process to assess your eligibility and creditworthiness.

Which countries are eligible to receive loans?

Currently, Flutterwave Capital offers loans to businesses located or incorporated in Nigeria. We’ll let you know when we add more countries.

Can I receive a higher loan amount in the future?

Absolutely! You may be eligible for access to higher amounts in the future. The increase is determined by several factors, including your repayment history and business transaction volume. Growing your business and establishing a positive repayment track record can improve your chances of receiving higher loan offers.