Beels For Business for Android – Latest Version & Features

Beels, is an online co-operative technology platform for SMBs that helps them digitize their businessoperations 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 ApprovedBeels for Businesses enables SMB’s to do the followingSend 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 phoneWhile Beels understands that members SMB’s on our platform business can be affected by the economyand 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 interestEligibilityTo be eligible to apply for a working capital, you need to be a member and have a business wallet withBeelsWe aren’t a loan company, rather we provide working capital to businesses who are our members and useour software services.
For exampleJamie Wears, Uses Beels to send and receive payments from her customers, while also ensuring he keepshis record up to date with our BIR software,The business (Jamie Wear) is Eligible to borrowNGN 50,000 to attend to her urgent business needs rather than being shut down or inventories beingcollateralizedJamie Wear borrows NGN 50,000 at 1% interest rate at a Monthly interest of 1% (APR of 15.6% P.a)ExampleWorking Capital = NGN 50,000Maximum Duration = 12 MonthsInterest rate = 1.3% of NGN 50,000 * Number of Months(6) = 7800Total Payable = NGN 57,800Total Amount of Working Capital Disbursed = NGN 50,000Cost of Capital and fees = (3% of 50,000 ) = NGN 1,500Cost of working capital to Jamie wear = (Interest Amount + COC and Fees) 7,800Monthly Repayments = (Total Payable / 12 ) = NGN 4800