Beels For Business

Beels, is an online co-operative technology platform for SMBs that helps them digitize their business
operations and provide funding assistance to businesses using our software to aid their business growth.
Beels is a financial technology company, not a bank, Banking Services provided by Safe Haven MFB,
Members NDIC, CBN Approved
Beels for Businesses enables SMB’s to do the following
Send and receive money from anyone without overdraft charges within Nigeria via our Business Wallet.
Record your books, issue Invoice and receipt to your customers easily and all from your mobile phone
While Beels understands that members SMB’s on our platform business can be affected by the economy
and other unforeseen circumstances,
Our members do not need to collateralize their inventories, or shut down their business.
They can borrow loans as low as 1% monthly interest
Eligibility
To be eligible to apply for a working capital, you need to be a member and have a business wallet with
Beels
We aren’t a loan company, rather we provide working capital to businesses who are our members and use
our software services. For example
Jamie Wears, Uses Beels to send and receive payments from her customers, while also ensuring he keeps
his record up to date with our BIR software,
The business (Jamie Wear) is Eligible to borrow
NGN 50,000 to attend to her urgent business needs rather than being shut down or inventories being
collateralized
Jamie Wear borrows NGN 50,000 at 1% interest rate at a Monthly interest of 1% (APR of 15.6% P.a)
Example
Working Capital = NGN 50,000
Maximum Duration = 12 Months
Interest rate = 1.3% of NGN 50,000 * Number of Months(6) = 7800
Total Payable = NGN 57,800
Total Amount of Working Capital Disbursed = NGN 50,000
Cost of Capital and fees = (3% of 50,000 ) = NGN 1,500
Cost of working capital to Jamie wear = (Interest Amount + COC and Fees) 7,800
Monthly Repayments = (Total Payable / 12 ) = NGN 4800