I have this mega idea of a business, but i need serious finance for it, about 17million to startup.

I heard diamond bank helps in giving loans to people who have ideas, don't know how true this is?

Does anyone here know of anyway to get such money to startup something? Payback will be within 2 years.

Any hook-ups?

To get a loan from a bank I think you would need a collateral and a good bussiness plan

What business is this that u need such amount of money to start? The truth is no bank will give u this unless u already have some form of infastrcture. So rethink ur strategy and think of talking to the big boys already in such field. There are loads of investors willing to invest in projects all u have to do is to write a detailed business plan,[i][/i] which will involve u doing plenty of research (which people living in Nigerian find difficult to do). When ur armed with the necessary ingrdients, I'm sure some one or the bank might begin to consider u. They might not give u all but u could get some thing. REMEMBER BUSINESS IS NOT ALL ABOUT MONEY ALONE IF U RECEIVE SUCH MONEY IN CASH TODAY IT MIGHT KILL YOU, so be wise and get each stage of investment right.

Go to a bank and they will tell u the steps togetting a loan and who much ur qualified to get depending on what type of loan u want

and good luck with getting the loan

and dont 4get to pay it back

lmao, thanks guys, i appreciate the responses.

Viper if you need help with how to go about your bussiness plan, you could send me a mail at olaoluawo@yahoo.com

do banks in Nigeria give start-up people loan, i thought they only loan rich people and big business

to get a loan in nigeria u need to be rich already or know someone in management

The amount in question is rather much and you may end up using all your profit to service the loan in question. Why not start small, if possible? Another option is to get partners. If your business plan is good enough, certain individuals can get overdrafts and similar loans that may add up to much at the end of the day.

However, be open with the partners as getting a loan involves a lot of risks. Best of luck in your endeavour.

I Need a loan to go shopping. lol

Just Kidding

LoverBwoy:

do banks in Nigeria give start-up people loan, i thought they only loan rich people and big business

to get a loan in nigeria u need to be rich already or know someone in management

yea mehn! u right jare

baabolight:

The amount in question is rather much and you may end up using all your profit to service the loan in question. Why not start small, if possible? Another option is to get partners. If your business plan is good enough, certain individuals can get overdrafts and similar loans that may add up to much at the end of the day.

However, be open with the partners as getting a loan involves a lot of risks. Best of luck in your endeavour.

Thanks man. thanks for the encouragement

I AM A PRIVATE LENDER,REGISTERED AND CERTIFIED,WE GIVE OUT LOANS TO INTERESTED AND SERIOUS MINDED PEOPLE AND GROUPS AT A VERY LOW INTEREST RATE AND REPAYMENT ALLOWED THROUH INSTALMENT EITHER MONTHLY OR YEARLY.GET YOUR BIZ,HOUSE,AUTO,CONTRACT,DEBT,SCHOOL,PERSONAL, UPKEEP LOANS HERE AT A VERY LOW INTEREST RATE.ITS EASY,FAST AND CONVENIENT.CONTACT nicksabian_fastloan01@yahoo.com

A good business plan first, then you can approach the banks.

apart from having a good business plan and collateral, banks re usually comfortable wit those that have operating history. they expect u to have been in the business over a period of time at least 2yrs; wit that u re in a good position to give them a good risk-reward analysis of the business. they will also want to know the status of ur cashflow 2ru ur business financial statement, you really can blame them they re just tryin to protect their money.

Hey Jones , I'm interested in your coy. Can you give more info? Also sent yu a mail .

Thanks for the info. Actually sent him an e-mail and he did not reply

Viper, you prosed well but be careful of people advise it can get you confuse but if you mean business take a bold step to finacial houses and banks with good plan and interraction

You might be the lucky one but as for Banks, the collateral they will ask for is enough to start the business if you actully have such,

@Topic

d answer is simple

Bank or try abeg Seun if e go help u.

4get it man.Naija banks dont give loans to startups.You hav gotta raise it on ur own.Try preparing a biz planlike others have said and approach people u think can bankroll ur idea.Av tried such and its working for me.Wit luck and God on ur side u r on ur way to ur dreams.

Good day everyone.I would like to loan cash to anyone who has a biz idea within N100,000 below on the following conditions:

1.It must be a good an lucrative one

2.It must be legitimate

3.the person must be willing to pay back in 1yr with 40% interest.

Write me and let me know the business plan in details and also the risks involved on jeff_nweke@yahoo.com

thanks.

acquiring loans without proper thoughts and planning may rather be a liability. you may end up in jail or be broke for a very long time.

be wise when considering loan to start up a business.

good luck.

naija banks do give loans. they give to both the starters and the established. but while the established enjoy lower interest rate, the starters pay higher rate due the higher risk of default. before starters get the loans, they are usually scrutinized and the viability of the biz crtically appraised. the cashflow is properly analysed and security (collateral) downwardly evaluated.

at the end, you may be disappointed by the banks. however, a good research and homework could land you the loan. but will your biz generate the cash inflow to pay back the loan in a short term? cos the banks would not tie down their capital on your biz. if not look elsewhere for your finances.

courtesy
d analyst

for more info contact remmychess@yahoo.com

loudboy:

3.the person must be willing to pay back in 1yr with 40% interest.

40% interest rate I am sure your email box will be full now with people hounding you for loans.

40% interest rate I am sure your email box will be full now with people hounding you for loans.

Actually dollyp1cute,i have not had any reply yet from anyone,do you have a business idea or need a loan from N100000 below?

it boils down to wether you possess already a comprehensive business plan or some form of collateral.mail a detailed explanation of your plan and your business goals to ekenedike@hotmail.com

For those whose projects won't cost as much, loans ranging from N30,000 to N950,000 are available from miVEPA Empowerments.

These loans require no collateral and are easy to secure.

You could use the loan to finance a small project or startup a small scale business.

Repayment period is over a year.

Interest rate ranges from 2% to 16%.

An online application for a miVEPA loan grants you a free, personal U-Mo Mobile-Wallet account (powered by UBA, Glo and Afri-Pay) which instantly turns your mobile phone to a real mobile 'Bank'

To find out more about miVEPA Empowerment loans and how to apply send your inquiries to: mivepaloans@gmail.com

wordapple:

For those whose projects won't cost as much, loans ranging from N30,000 to N950,000 are available from miVEPA Empowerments.

These loans require no collateral and are easy to secure.

You could use the loan to finance a small project or startup a small scale business.

Repayment period is over a year.

Interest rate ranges from 2% to 16%.

An online application for a miVEPA loan grants you a free, personal U-Mo Mobile-Wallet account (powered by UBA, Glo and Afri-Pay) which instantly turns your mobile phone to a real mobile 'Bank'

To find out more about miVEPA Empowerment loans and how to apply send your inquiries to: mivepal oans@gmail.com

NO COLLATERAL; yet you want to collect 35percent of the loan as equity and it will be paid in advance of loan application and left in ur account for 3mnths. This is obviously fraud. You are probably robbing peter to pay paul and of course u can't sustain such a ponzi scheme for long. Moreso, you may soon end up in EFCC net cos u are not licensed to collect deposit from people by CBN. You are neither a cooperative nor a finance house. If you don't desist from pasting this post all over nairaland, I will personally petition EFCC about you. Mark my word!

AM REALY CONFUSED BY THIS miFEPA, ARE THEY REAL, I WILL PAY ALMOST 17% OF THE MONEY BEFORE I CAN GET A LOAN FROM THEM, NA WAOOO, WHICH KIND LIFE BE DIS SELF U WILL BE LOOKING FOR A WAY OUT ND MORESO SOME WILL WOULD WANT TO DUPE YOU AS WELL. MAY GOD ALMIGHTY MERCY ON US. I EVEN ASK THEM TO REMOVE THE PERCENTAGE FROM MY LOAN.

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I am a Exporter and just got a business deal to supply a Turkish Big Company Charcoal but since they haven't deal with Nigerian before on Charcoal, they have decided to go for a Trial Order of one Container first and if Nigeria Charcoal is good in their Country, they will go for more bigger order. They have paid me with Letter of Credit but now my problem is Capital to start the business, so please brothers, I need your help on any Organization or Individual that is ready to financial such a project without Collateral because it will be a longtime project, I can really feel it. I am talking of 900K Naira loan here to do the business.
Thank you every much for your help and I await your reply as fast as you can