Your Business Website
Instead of having to open a bank or savings / business account for your business and operate it over a period, usually beyond 6-24 months before qualifying for a loan (if you ever even get lucky to be funded by a traditional bank), we use a different model to lend to credible startups and new businesses.
That is not to say you don't require a bank account to borrow from us, because it's mandatory for loan or equity applicants to have a bank account with any of the 23 BoG regulated universal banks before any disbursements can be sent to you.
Why this requirement?
It is mandatory for all business loan applicants to have a website for their business. And it must meet our requirements. No website for your business, No Lending or Investment from us!
There are several reasons why we insist on this requirement with all our business-purpose loans, including but not limited to the following....
• Loan Application and Processing
We are unable to start and process your business loan or equity application until you have a website for your business - you cannot even make an application, let alone submit it for processing, if your business website address has not been added to our database. Any Know Your Client (KYC) starts with information provided on your business website. If you think your business does not need a website then our services are not for you - try somewhere else!!
The modern kind of business we want to finance should have a website for their business, whether you have a collateral or not. Whilst not all businesses with a website, can be credible, it helps us rid our system off fraudsters and fabricated identities. With easy access to the internet has come a flood of people who could and will waste time if you let them.
This useful filter enables us to know the genuine businesses from the fakes that abound on the internet, and social media particularly. As a no upfront fee direct lender and investor receiving hundreds or enquiries and loan and equity investment applications, our time is one of our most valuable resources. We cannot afford to waste it on what seems important but isn't. We can't let anyone else control our schedule and invade our boundaries and draining our resources unchecked.
• 'Soft' Collateral
The idea behind our mandatory website requirement for any business (especially startups and even cash crunched sme businesses) borrowing from us, is to lower the barrier to access to cheaper, quicker long-term capital - depending on your kind of business and how your website is structured and/or works, you could borrow against your website alone without having to put forward any hard asset(s). Note however, that there is a limit to how much you can borrow with your website alone.
The truth is, the only way to start promoting a business is by building a professional website. An effective website is the cornerstone of your company — it houses important information, and your customers expect you to have one, and we insist you have one when borrowing from us.
• Hard Assets Collateral Due Diligence
If your loan amount requires the provision of adequate physical collateral, we would only initiate the due diligence on the provided collateral free-of-charge if your business has a website and have met our requirement as stated.
• Proprietary Credit Scoring Systems & Algorithms
GHStartups' lending platform uses an algorithm that works behind the scenes to interpret and evaluate borrow information and credit risks, including but not limited to web data analytics. This robot does not access private emails or any other non-public directory.
• Proprietary Loan Underwriting Model
Algorithm-based, fair and responsive.
• Guaranteed Lending Strategies
All the reasons above and more are part of the reasons why we remove all uncertainties in the minds of borrowers, applying for a facility with us. If your information confirms your credibility, you can be guaranteed a loan with us, with no stress. Learn more.
• Sign of Commitment / Equity
Already committing to setup a website, proves to us, how determined you are in growing your business. A credibility for your business somewhat. Additionally, request for information on your business from Registrar General's Department cost money, and it will be naive on our part to expend such amounts on fraudulent and/or non-existent businesses.