How to Apply for Prospa Small Business Loan in 2024

Prospa Small Business Loan

Prospa Small Business Loan – Opening a business account with a traditional bank can be stressful and time-consuming. Many entrepreneurs are deterred from opening business accounts with Nigerian banks because of this. Prospa is essentially a company that facilitates the easy opening of business accounts for entrepreneurs. What you should know about the organization is outlined here.

Does Prospa give loans?

You can apply for loans thirty days after your Prospa account is activated. Your loan amount and interest rate will be determined using your prospa credit score. From A+, which is the highest score, to E, which is the lowest, is the Prospa Credit Score.

An Overview of Prospa

Prospa is a technology organization creating the operating system for African business owners. Basically, the platform focuses on providing a current bank account for your business. This bank account comes with benefits that are suitable for the growth of your business.

The company is privately-held and was founded in 2019 to provide financial services to Nigerians. Essentially, the organization has a sole mission to help Africans in increasing financial prosperity.

What services does Prospa offer?

Basically, the services Prospa offers aims to help you manage your business and banking. These services include:

1. Providing you with a bank account number registered in your business name

Once you register your business, you receive a bank account number registered in your business name. This saves you the stress of going to a conventional bank to open a business account.

2. Sending and receiving funds

Basically, the business bank account you open functions like a conventional bank account. You can transfer money from your account to other Nigerian bank accounts and receive money from other bank accounts.

3. Business Management Tools

The platform has expenses tracking tool that automatically groups your transactions. Also, you gain access to open and maintain all your business accounts from one dashboard. With this feature, you can switch through your bank accounts with ease.

4. Bills payment

You can pay bills conveniently with funds from your business account. Basically, with this feature, you can pay your utility bills from the comfort of your home.

Lastly, the platform is safe and secure. These features help you to grow and manage your business easily.

How can I open a business account and register my business with Prospa?

How to open a Prospa business account
How to open a Prospa business account

To open an account and register your business on Prospa, follow the instructions below:

1. First, visit the Google play store if you use an android device or the App Store if you use IOS.

2. Next, search for the ‘Prospa- Business Account’ app and download it.

Lastly, open the app and input the details of your business on the registration form. Once you complete the registration, you get a Prospa business account.

What are the requirements to open a business account with Prospa?

To open your business account, you need the following documents:

1. Your BVN

2. CAC registration forms

3. Certificate of Incorporation

4. A government-issued identity card

5. A recent utility bill

6. TIN

7. 2 References

Lastly, you need a Board resolution. You can generate this document from your dashboard.

Is there an inflow limit for my Prospa account?

No, there is no inflow limit or restriction for your account. Therefore, can receive as many funds as possible into your business account.

Where can I download the Prospa app?

If you use an Android device, you can download the app on your Google Play Store. However, if you use an IOS device, just check the App Store.

How to download the Prospa app
How to download the Prospa app

How can I contact Prospa?

You can contact Prospa via the following ways:

Address: 4b Fatai Idowu Arobieke, Lekki Phase 1, Lagos, Nigeria.

Phone Number: (234) 188 878 81

Email Address:



Prospa is a platform that helps business owners open and manages their businesses easily. They provide you with digital tools that facilitate business growth and all-around development. Essentially, the platform is a necessity for entrepreneurs.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like