Frequently Asked Questions.
Find below, the respective answers to your questions. Do you have questions that we are yet to address here? Please send it directly to our support profile in the Slourish community and our team will get back to you in no time.
Slourish is a business micro-investing platform that bridges the gap between business fundraising and micro investments for users. However, Slourish takes things a little bit further by making the platform community-based for both entrepreneurs and their investors to collaborate, share ideas and stay updated on the progress of the businesses/investments.
The platform being built with Nigerian entrepreneurs in mind, is actually targeted at those interested in taking part in the process of developing the brands as well as create some investments for themselves.
In summary, entrepreneurs apply to get their business listed on Slourish, we carefully vet the business and analyze its value and if it's worth funding, we list it on the platform to be crowd-invested by Slourish Members.
At the end of the day, users can easily invest in any of the businesses for a return and other incentives.
Users simply create a free account and instantly join the community of business moguls and investment seekers where they can easily invest in businesses, get loans, save, earn and grow their money. With an arsenal of features, they are equipped to also connect and interact unlimitedly. Sharing ideas, giving suggestions, monitoring investments and staying updated with the progress of the businesses can be done in few clicks.
Organizations who are in need of raising funds to facilitate their operations and would like to do that here are invited to tell us a bit about them through our application form. However, we will need to be sure the management team is can effectively run the organization and we do also consider the overall concept of the business and analyze the plan and marketing strategy.
Anyone who is above the age of 18 and able to carry out financial transactions with no legal implication and without a need for a guardian or third-party supervisor.
It's very easy and straightforward. Simply create an account to access the member area where you can easily find startup campaigns, groups and other features to help you fully utilize our service. All you have to do is locate the startups you love through the campaign menu and invest in them. Then, you can join the groups to stay updated on your investments as well as participate in the process.
Big no! The stock market is designed to get money from you but Slourish.com is built to reduce the risks on your part.
=> You get to support an exciting brand and you are in complete control of the business you invest in. You don't need brokers, you do it yourself.
=> You will likely hold your investment for some time - Over 10 months (some businesses may take longer) before getting a return.
=> You get to actively take part in the process and monitor the progress of the business and your ideas and suggestions could be implemented.
=> You are in a community of several other micro-investors who are working together to help the business succeed.
=> The money you invest goes directly to the business which is actually used for the right purpose.
=> Most businesses come with additional perks and incentives that ensures the investors are appreciated. E.g access to VIP products, discounts etc.
Simply tell us a bit about yourself and your business using our application form here. Adding a business plan as well as your CAC registration number can really improve your approval rate. Also please crosscheck and make sure the details you fill in are accurate and verifiable because you only have one shot. Once submitted, we will start processing your business immediately and if it meets our requirement, we will add it Slourish in no time.
Yes. It's as legal as it can get because we basically just keep records of your pledge, store your money for you and distribute them to the businesses in tranches and everything is done in full transparency. We are not stock brokers neither are we a financial institution but using your money to grow a business and secure you a return/interest is not a crime in the Nigerian constitution and you are not breaking the law by investing in businesses online.
While we have outlined a few reasons most members have for investing in our vetted businesses, investing to make lots of money is certainly not one of them. As a matter of fact, do not invest in a bid to grow rich. The act of Investing is always risky no matter where you invest. If anything, you should invest because you genuinely want to support the business and at the end of the day, if the business generates revenue, gets acquired or raises a round of funding, you earn a return.
Sure. Investing in three or more businesses is safer and increases the odds of profitability. You should also consider investing in any of other other packages (such as our Aecodri Fund) in addition the businesses.
We have taken it upon ourselves to mitigate the risks on your part but still, there is a chance that you could lose all your money. Here's how we handle this - Our strict team is always analyzing the businesses and their plans to ensure they are worth funding before adding them to Slourish.com. We don't give the businesses your money until it's absolutely necessary and this accords us some opportunity to be able to issue you a refund. We are able to determine this because we monitor the operations of the businesses. Also, we distribute the funds to the businesses in tranches which makes it difficult to lose everything.
No! You are probably not going to get any return on your investment within your first 6 - 12 months of investing in a business here. Investments are long-term-based. Slourish won't make you rich overnight. You will have to invest in multiple businesses, stay connected and wait for the businesses to generate a return.
Various kind across several sectors. Virtually any business can be given a shot to succeed on Slourish no matter the industry including non-profit organizations. There are companies in the tech, real estate, retail, entertainment, agriculture sector etc.
Staying as an investor is not compulsory. Once you find a business you love, you can support them however you want. You could just share your ideas with them or completely donate your investments to them. We recently added a donation feature that allows a business (especially a non-profit organization) to create a donation campaign. Some businesses may also request for a loan instead while others may prefer to pass out an offer (e.g prelaunch discount sales) to raise the funds they need in getting their products to the market.
Stay active in the community to get updated on when new businesses get added. We are always on the lookout for promising Nigerian businesses that need your funding and once a new one is approved, you will gain another opportunity to invest.
Not long enough. It actually depends on the business as some businesses require a little more digging and analysis but the process is usually completed in about a week.
Easy! Just locate the business page and click on the 'invest' button to fill in your details. Once you are done, click 'next' and pay with your debit card, credit card, Paypal or your bank and boom! You are now an investor!
No. You could also do a transfer or bank deposit if you don't want to pay with your internet banking portal, using your debit card/credit card or Paypal.
Only what you can afford to lose. Yes, there is a possibility that the business may not turn out as successful as you imagined or that it may take a lot longer before you can see any tangible return on your investment so, please invest only what you can afford to live without. There's really no limit. You can invest as little as N20,000 or invest as much as N10,000,000 as long as you can afford it.
Your money practically remains in your account until the end of the business investment period after which your money moves to an escrow service that protects both you and the business. Note that if the business didn't gain a reasonable investment sum, your money will be refunded but if it does, then, the money gets distributed to the business in tranches per milestone.
Yes, as long as the money is yet to be transferred to the business. If the business has begun operations with the money, then your investment will have to stay valid. You are not under any contract but it's best to only invest when you are 100% sure of your decision to minimize issues of refunds.
It's against our policy to contact the businesses outside the Slourish platform. Your interactions with the businesses on Slourish should be limited to questions, answers and suggestions regarding the development of the business. While we can't stop you from contacting the businesses directly, we can only protect your interest when you are a Slourish investor so, we recommend you carry out all your transactions on here.
Yes. Just tick the anonymous investment checkbox on the transaction page after filling in your amount. You could also privatize your overall activities on your account including your profile. This is useful if you want to stay hidden/behind the scenes.
There's no particular time-frame for updates but all businesses on Slourish are required to keep you updated on all important steps they take. This is usually done at least once a week but the community is always booming and businesses could post updates every hour (if they like).
Incentives vary and as such it's quite difficult to mention an absolute medium or time. However, physical givebacks get shipped to the investor's address and digital givebacks get issued on the business's website or through us. Though the startups are required to hand over the giveback to you once you have invested, it may not happen very quickly as some givebacks are likely going to be allocated together with your investment returns. Nevertheless, we have a record of all transactions and we ensure everyone gets their givebacks when due.
No. You could actually invest and check back in every week but we recommend you say active to stay active to remain updated on the business progress as well as new opportunities.
ROI is simply talking about money you could make once a business you invested in becomes profitable and begins paying dividends. Once you invest some money, the amount you get back is the ROI.
Sure. Once you invest, we quickly take into account your details and issue a record of the investment containing details of your estimated return.
Unless you have some chunk of Naira to invest, you should probably don't expect a voting right by investing N100,000. This is to say, voting and decision-making are limited to the top management/board of directors of the businesses and the chances of them consulting you before making a decision is almost non-existent but then again, businesses on Slourish are expected to keep you in the loop of all major decisions and they may very well ask of your opinion/suggestions or even request for your active participation.
It actually depends on how fast the business is able to generate some tangible revenue. Loans are repaid quicker since they are usually requested by already thriving businesses who just want to expand. Also, some fast-growing businesses do turn out to be stable in less than a year. This means they could start paying you dividends in 6 months.
Be the first to know when new investment opportunities turn up.
Our secure platform was built to help highly-vetted Nigerian businesses, get funded and offer rewards, ROI, interests and other incentives to their micro-investors.
However, we protect our investors and business owners' interests by handling the whole process. We rigorously verify and monitor all businesses and investments on Slourish.
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