Grooming small businesses with Shara finance revolution

Small and medium-sized enterprises (SMEs), form the backbone of Nigerian trade and are said constitute about 90 per cent of businesses in the country, employing more than 70 per cent of the workforce. Indeed, it can be said that trade shapes the livelihood of millions of Nigerians.

But while it’s a big ecosystem, beneath the surface lies a challenge; many of these progressive businesses face a common hurdle –access to finance which has hindered their growth and held back the potential for economic advancement.

Many small businesses with potential lack access to a quick loan to finance their dreams in addition to other challenges like bad credit history, poor bookkeeping practices, indiscriminate taxation/levies and price volatility among others. They need access to consistent funds to finance their business but the fund application processes and requirements from traditional banks can be quite difficult.

However, there are now means to scale this hurdle through the revolutionising of the lending landscape by Shara, which offers collateral-free business funds to empower these vital contributors to our nation’s economy in the midst of varying challenges that have long hindered Nigerian trade.

Shara, an innovative collateral-free trade transaction finance company, has set out to transform the way businesses in Nigeria access funds and finance their growth by empowering businesses, especially SMEs, through provision of necessary funds to grow and thrive with no hidden charges or guarantors involved thereby contributing to economic prosperity and job creation.

One of the critical benefits of Shara’s financing is that merchants only pay for the facility when they use it. No more worrying about paying for money you aren’t actively using. It’s a breath of fresh air in the close world of business finance.

Another key benefit of Shara’s financing is that merchants only have to register once with zero registration and admin fees; they will continue to access financing provided they show good on-time repayment habits, which solves the problem of bad credit and record keeping.

Shara will also provide businesses loans in repeat cycles, as long as merchants manage their debt responsibly and don’t take on too much financial risk and they are not charged processing, admin, withdrawal or transfer fees.

Also, merchants may be eligible for resizing if they show increased verifiable revenue on bank statements. With Shara’s pioneering approach to collateral-free financial support, there is a tangible solution to address these trade challenges.

This solution not only empowers businesses to thrive and grow but also has a ripple effect that touches the lives of countless Nigerians, creating employment opportunities, enhancing financial inclusion, and improving overall well-being.

It is indeed good news for small business owners.

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