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Carbon Business Loan (formerly Paylater)

Carbon (Carbon Finance Limited) · Bank / Financial Institution
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NigeriaTradeServicesTechnologyRetail

About this opportunity

Carbon provides fast digital business loans of ₦100,000 to ₦9.5 million for registered Nigerian SMEs with 6+ months trading history and ₦1m+ monthly turnover. Money arrives in 48 hours, no collateral needed, but your net cashflow must be at least 3× your monthly repayment.

Carbon provides fast digital business loans to Nigerian SMEs and entrepreneurs through its mobile app and web platform, with no physical collateral or guarantor required. Loan decisions are made within minutes using alternative credit scoring based on bank statement analysis, BVN data, and repayment history. Tenures range from 1 to 12 months, making Carbon suitable for short-term working capital needs.

Who can apply

  • Registered Nigerian business with CAC certificate or RC number
  • At least 6 months of continuous trading history
  • Average monthly business turnover of ₦1,000,000 or more
  • Director or signatory aged 21–60 years
  • Clean credit bureau report with no active defaults
  • 6 months of business bank statements available
  • Valid government-issued ID and BVN

Not eligible

  • Unregistered businesses (though Carbon offers CAC registration support)
  • Businesses trading less than 6 months
  • Applicants with active loan defaults or delinquencies on credit bureau
  • Anyone outside the age range 21–60 years

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Documents you will need

  • CAC certificate (or RC number for registered business)
  • 6 months of business bank statements from any bank
  • Valid government-issued ID
  • BVN (Bank Verification Number) of the signatory or director
  • Recent utility bill showing business address

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How to apply, step by step

  1. Download the Carbon Business app or visit the website and open a Carbon Business account in 5 minutes with your business details
  2. Upload all required documents: CAC certificate, 6 months of bank statements, valid ID, BVN, and utility bill through the app or website
  3. Choose your loan product (Working Capital, Asset Finance, or Flex Loan), enter the amount and tenor you need, and review the estimated repayment using the loan calculator
  4. Submit your application in the app or on the website; your cashflow and trading history are assessed automatically
  5. Receive your loan offer within 48 hours with your exact interest rate and repayment schedule; accept the offer in the app
  6. Money is disbursed to your account within 48 hours of acceptance
Save and track it and we will email you 14 days, 7 days, 3 days, 24 hours and on the morning of the deadline.

How applications are selected

Carbon assesses all applications based on your cashflow and business trading history rather than physical collateral or guarantors. The system analyzes 6 months of your bank statements and credit bureau data to calculate your repayment capacity; your offer is only confirmed once this assessment is complete. The entire process from application to money in your account takes 24–48 hours. If approved, you can choose daily, weekly, or monthly repayment terms, and repayments auto-debit from your business inflows.

What reviewers look for

  • Strong and consistent monthly inflows matter most: Carbon funds businesses showing regular turnover of ₦1m+ per month
  • Clean credit history is non-negotiable: any active defaults or delinquencies on the credit bureau will result in rejection
  • Your net cashflow must cover at least 3 times your monthly repayment; if it does not, you will not qualify for that loan amount
  • Six months of bank statements are mandatory and will be pulled automatically if you already bank with Carbon; otherwise upload manually
  • Registered businesses get faster processing; if unregistered, use Carbon's CAC registration support to get loan-ready at the same time

Frequently asked questions

Do I need collateral or a guarantor?

No. Carbon requires neither physical collateral nor a personal guarantor. Your loan is secured against your cashflow and trading history.

How quickly will I get the money?

Money arrives in your account within 24–48 hours of accepting your loan offer. The entire application process from submission to disbursement typically takes 48 hours.

What is the interest rate?

Rates start from 3.99% per month for new customers, but your exact rate depends on your credit assessment and is confirmed before you accept the offer.

Can I repay early or choose how often I repay?

Yes. You can choose daily, weekly, or monthly repayment terms, and repayments auto-debit from your business inflows. Carbon does not charge penalties for early repayment.

What happens if I have been trading for less than 6 months?

You can open a Carbon Business account now and bank with Carbon for 6 months; you will then qualify for a loan automatically. Alternatively, use Carbon's CAC registration support to register your business and start building your trading history.

Guide written from the official programme page on 16 October 2026. Funders change their rules, so confirm the details on the official page before you apply.

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