Carbon Business FAQs

Onboarding

How do I create a Carbon Business Account?
To register for a Carbon Business Account:

• Log in to the Carbon Business App or visit our website.

• Click on "Create Account" and follow the prompts to complete the registration.

• Use our visual guide for step-by-step assistance.

What are the types of accounts?

• Flex Account

• Pro Account

What are the requirements?

For a flex account:

• CAC Certificate

• Utility Bill

• A valid ID and BVN of at least one director or partner.

For a pro account:

(as a sole proprietorship)

• Business Name Registration Certificate

• Status Report or Business application form

• Valid Identification (BVN and National ID Card/NIN Slip) for proprietors and authorized signatories

• Tax Identification Number (TIN)

• Proof of Address (e.g., utility bill, lease agreement)

(as a registered Company (Ltd, Plc)

• Certificate of Incorporation

• Memorandum & Articles of Association

• Status Report or Business application form (or Form CO2 & CO7)

• Valid Identification (BVN and National ID Card/NIN Slip) for directors and authorized signatories

• Company’s Tax Identification Number (TIN)

• Proof of Address (e.g., utility bill, lease agreement)

(as a non-governmental organization (NGOs))

• Certificate of Incorporation/Registration with CAC

• Certified True Copy of the NGO’s Constitution

• Board Resolution signed by the Chairman & Secretary authorizing the account opening

• Valid Identification (BVN and National ID Card/NIN Slip) for trustees and authorized signatories

• Passport photographs of trustees and authorized signatories

• Tax Identification Number (TIN)

• Proof of Address (e.g., utility bill, lease agreement)

• Evidence of Regulatory Compliance, such as a SCUML certificate (if applicable)

Acceptable Proof of Address Documents:
The document must correspond with the address on your account and be dated within three months. Acceptable documents include:

• Internet/Phone statement

• Bank Statement

• Waste Management Bill

• Electricity Bill

• Water Bill

• Tax Assessment Letter

• Letter from the Government

• Tenancy/Lease agreement and rent receipt (has to be provided together)

If you encounter any issues or need further assistance, please send an email to sme@getcarbon.co, and we will be happy to assist you.

How do I upload documents via the app?

• Click on "Attention" in the app.

• Upload the required documents as prompted.

• Click "Next" and then "Submit" to complete the process.

What happens after I upload my documents?

• Our team will review the documents. If any additional information is required, we will contact you via your registered email address.

How long does it take for my account to be verified?

• Account verification usually takes 24 hours. You will receive a confirmation via the app and email once the process is complete.

Sub Accounts

How do I create a sub account?

• Log in to your Carbon Business Account.

• Navigate to the Subaccounts section.

• Click on "Create Subaccount" and follow the prompts.

• Set up the subaccount details and confirm the creation.

What is the default subaccount limit?

• The default limit is 5 subaccounts per business account.

How can I increase my subaccount limit?

• Send a written request to our support team, specifying the number of additional subaccounts needed.

• Our team will call you to verify your request.

• Once verified, we will update your subaccount limit accordingly.

How long does it take to process a subaccount limit increase?

• Processing time depends on how quickly the written request is received and verified. Typically, it should be completed within 24–48 hours after verification.

Who can I contact for registration or document upload issues?
📩 Email: sme@getcarbon.co
📞 Phone: 02013301808
💬 Live Chat: Available on the Carbon Business App

Loans

What types of loan packages do we have?

• Flex

• SME

Why do I need a Carbon Business Account to apply for a loan?

• A Carbon Business Account is required to apply for a loan, ensuring your business is registered within our system for eligibility assessment.

What types of businesses qualify for SME loans?

• Sole proprietors

• Limited liability companies (LLC)

What is the maximum loan amount for an SME Loan?

• NGN 9.5 Million

What is the maximum loan amount for a Flex Loan?

• NGN 100,000 for Sole Proprietorship and NGN 150,000 for limited liability companies

What are the interest rates and repayment terms?

• For new SME customers, the interest rate is 5.5% monthly, with a repayment term of 3 months.

• For repeat SME customers, 5% monthly with a repayment term of 3-6 months.

• For Flex customers (new and repeat), the interest rate is 6% monthly and the tenure is 1 month.

Are there processing fees?

• Yes, a 1% management fee, is deducted upfront from the loan amount. Interest is calculated on the original loan amount.

Do I need collateral?

• No

What documents are required for a loan application?

• A bank statement after successful onboarding.

How long does loan approval take?

• If all necessary documents are in order, approval can be completed within 30 minutes.

How do I repay my loan?

• Repayments can be made by funding your Carbon SME account before the due date. We also facilitate direct deductions through Remita.

Are there penalties for late repayment?

• Yes, a daily penalty fee is charged on the principal amount due. Missing payments may also affect your credit history.

Can I extend my loan repayment term?

• No

Technical Issues

How do I reset my password?

1. Open the Carbon Business App.

2. Click on "Reset Password".

3. Enter your registered email address.

4. An OTP will be sent to your email.

5. Use the OTP to reset your password and regain access to your account.

What should I do if I don’t receive the OTP?

• Check your spam/junk folder.

• Ensure you entered the correct registered email address.

• Wait a few minutes and try resending the OTP.

• Contact support if the issue persists.

Why am I unable to transfer or fund my Carbon Business Account?

• Your account may be temporarily locked for compliance review.

• An account number may not have been generated.

• There could be a network issue affecting transfers.

Transfer Limit

How can I increase my transfer limit on a Flex account?

• Submit the following documents:

• All pages of your Status Report from CAC

• Tax Assessment Certificate or Letter

• Once received and approved, go to the Account section of the app and submit the indemnity form.

How can I increase my transfer limit on a Pro account?

• Navigate to the Account section of the app.

• Fill out the indemnity form, specifying the exact upgrade amount.

• The maximum daily limit is ₦250,000,000.

How long does it take to process a transfer limit increase?

• It depends on the accuracy of the submitted documents. Ensure all documents are clear and complete to avoid delays.

How do I generate my account statement?

1. Log in to your Carbon Business Account.

2. Click on "Accounts" and select "Statement".

3. Choose the date range for your statement.

4. Click on "Get Statement".

5. Your statement will be sent to your registered email address.

If you need further assistance, please contact our support team.

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Creating Sub-Accounts on the Carbon Business Banking App

Creating sub-accounts on the Carbon Business Banking App is quick and easy. Follow these steps:

1. Log into your Carbon Business Banking App and navigate to your main dashboard.

2. Select ‘Accounts’ from the menu.

3. Scroll down and click on ‘Sub-Accounts’.

4. Create a new sub-account by following the on-screen instructions.

5. That’s it! You have successfully created a sub-account on the Carbon Business Banking App.

For a step-by-step video guide, watch here: How to Create a Sub-Account

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Creating and Sending Invoices with Carbon Business

Sending, tracking, and getting paid is easier than ever with Carbon Business. Follow these steps to create and send an invoice in just a few simple steps:

1. Log into your Business Account.

2. Navigate to ‘Invoice’ under the Business Section in your dashboard.

3. Click ‘New Invoice’ to start creating a fresh invoice.

4. Enter your payment and business details.

5. Need a unique invoice number? Use our integrated AI personal assistant to generate one for easy tracking.

6. Click Create—your invoice is ready to go and can be sent directly to your customer’s inbox.

7. That’s it! Creating invoices has never been this easy.

A few clicks and you’re one step closer to getting paid. Get paid faster, get paid smarter—start sending invoices today with Carbon Business!

For a step-by-step video guide, watch here: How to Create and Send an Invoice