Hello fellow Nairalanders,

I'm a young graduate engineer and I hope to be serving with the next batch of NYSC. I and my cousin intend starting a mini-cybercafe (a business we hope to run aside what we may choose as career paths) and we did our market research and have estimated the cost as N 370,000 minimum.

Now we have a good location for the mini-cyber cafe but what we need is the start up capital to run the small scale business. I know all about bank loans et al but i need your advise on what would be the easiest means to get such a soft loan- Banks, Micro-finance banks,etc.

I'm looking at not paying more than 20% yearly interest and being able to secure between 350,000 to 500,000 with a payment tenor of 1 to 2 years. I'll appreciate it if your advise can be detailed especially with names of banks or recommendations. You can reply to this post.

Please also note that we have already done all the ground work including analyzing other cafes and getting in touch with the suppleirs of equipment and even service providers. your answers are welcome.

Thank you.
SuperBrain

Hi Superbrain.

Read your post and l like your courage.I dont know how highly connected you are,so l would say going to the bank now for the kind of loan you want may take some arm twisting.But if you are highly connected up there,then you wont have any problem.To me getting the loan is not such a big deal,however,have you consider how to run your cafe very well such that you will be able to make profit?
What esperience do you have apart from being an Engineer,in running a business successfully.I have something you will surely be interested in that can help you make a success of your proposed biz.Why dont you mail me thru: gb_concepts@yahoo.com.You wont know how valuable what l have to give you until you mail me.Cheers.

Thank you,