How To Apply For Business Credit

How To Apply For Business Credit

Eligibility for Business Credit
Registered Businesses Only: Business credit is available exclusively to registered businesses. Ensure your business is registered before applying for credit on Earnipay.

Step-by-Step Guide to Applying for Business Credit
  1. Step 1: Log In to Your Business Account
    Begin by logging into your Earnipay business account using your credentials.

  2. Step 2: Access the Credit Menu
    Once logged in, navigate to the sidebar where you will find the “Credit” menu.
    Click on the “Credit” menu.

  3. Step 3: Initiate the Credit Application
    After accessing the Credit menu, a modal will appear. Look for the “Apply for Credit” option.
    Click on the “Apply for Credit” button to start your application process.

  4. Step 4: Fill in the Credit Application Form
    A form will be displayed, prompting you to provide necessary details for the credit application. Complete the following fields:
    Purpose of Credit Request: Specify why you are seeking credit (e.g., expansion, inventory purchase, operational costs, etc.).
    Annual Turnover: Enter your business’s annual turnover. This information helps determine your credit eligibility and limit.
    Bank Name: Select your business’s primary bank from the list provided.
    Upload Bank Statement: Upload a recent bank statement that provides a financial overview of your business. This statement is used to assess your financial health and creditworthiness.

  5. Step 5: Submit Your Application
    After filling in all the required details, click on the “Submit” button to complete your credit application.
    Your application will then be sent for review by the Earnipay credit team.

  6. What Happens Next?
    Application Review: Once your application is submitted, it will be reviewed by the Earnipay team. The review process typically takes up to 48 hours.
    Notification of Eligibility: After the review, you will receive an email notification regarding your eligibility status. This email will outline the next steps you need to take if your application is successful.
    Line Manager Contact: For businesses that are deemed eligible for credit, a dedicated line manager will get in touch to discuss your credit options and further procedures

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