Why do you think the bank will give you a loan without collateral? In this global financial recession? Hell no! The banks are soon going to merge and every bank is now trying to recover the loans they have already given out.

Sure you can get a one week loan but you will have to give them papers to your house and any other property you have.

@poster,

Why on earth do you think u can get a loan without a collateral? I dey smell something fishy

The only way to get a loan is to prove you dont need it by way of collateral in any form. Try a loan shark if you can find one but we all know the downside to that.gdluck

@ poster
it is very easy to get a loan without any collateral. just go to that bank owned by your father.

I dont know!

I am becoming very afraid for this Nairaland o!
If the quality of response we get to simple questions, is a testament to the quality of our peoples level of understanding, then we are in real soup!

Imagine, the question was :How do l get a loan without collateral"?

Answers range from, you can get one if you have a job, if you operate a salary account with the bank, if you have landed property, if you have a good business plan or running business, You must have good credit ratings, e.t.c!

For Christ's sake, are all the above not "COLLATERALS" or how else would one define collateral viz-a-viz something that can be used to minimize the risk, in case of default?
Na wah O, if we no get "reasonable answer" keep quiet or say l dont know! Chikenna.

@poster, the very idea of "a loan" implies a collateral, even if its from your family member - Your family relationship, as a leverage, is a collateral
Even a loan-shark uses your "good health and family members" as a collateral!

Maybe what you need is a GRANT, and l doubt if that system still operates in Naija otherwise, the likes of our IGP's would not need to borrow #161Million with landed collateral NO ONE WILL GIVE YOU MONEY FOR FREE, except its for burial ceremony!

I would suggest you work hard for the next one year and have some savings, with that, maybe you can convince a few people with money to come-in and party with you on your vision.
Your savings can even then, become the collateral that is barring your moves!
You see why this is the major reason the rich get richer and the poor get poorer!

In your spare time, l recommend this books: 1.) Rich Dad, Poor Dad. 2.)What the Rich teach their kids that Poor people dont teach their kids.

It would lift your spirits but all the same, dont give up on your dreams.

@Ogahimself
@richyblack

It is okay for you to doubt
The fact that it is possible
to get N75 Million Loan without Collateral.

This friend of mine testified to this truth
and even went on to tell others
how he did it in a recent event!

And No! @richyblack; he isn't the
Bank Managers' in-law.

The Mentality of some has
been so warped and downtrodden
the people find it difficult to believe
in anything good.

I won't try to delve into motivational speaking
here, it's up to readers to work on their minds
to be able to recognize the truth when it
stares them in the face.

One thing is sure; Yes it is possible to
get Loan in Nigeria without collateral;
and My Friend got N75 Million in Loan
recently

and if you want to know how he did it
mail me --> fortsconsult   @   gmail.com

Have Fun!

You can not get a loan without collateral 

Even if it is against a property you are only likely to be advanced 75% max 

Banks are very wary these days on who and what they lend money to 

99.9% of the people telling you they can do it without are probably 419 Yahoo boys waiting to take your money to set-up the loan which will not materialise.

It is possible to get a loan without a collateral, but you have to do a lot of home work which include a highly marketable business plan and a good relationship with the lending bank.

Though I don't have the details at the moment but I would never join those that says 'it is not possible' because I am a possibilitist.

www.internetbusinessdon..com
www.natureherbalcure..com
www.adogbejijaho..com
jahoglobal@gmail.com

jaho:

It is possible to get a loan without a collateral, but you have to do a lot of home work which include a highly marketable business plan and a good relationship with the lending bank.

Though I don't have the details at the moment but I would never join those that says 'it is not possible' because I am a possibilitist.

www.internetbusinessdon..com
www.natureherbalcure..com
www.adogbejijaho..com
jahoglobal@gmail.com

Why are you spamming the forum with all those ripp-off multi level marketing links?

Go an find another forum to spam with this shit

Thor:


[size=14pt]99.9% of the people telling you they can do it without are probably 419 Yahoo boys waiting to take your money to set-up the loan which will not materialise.[/size]

[size=14pt]BEWARE!![/size]

ForConsult:



It is okay for you to doubt
The fact that it is possible
to get N75 Million Loan without Collateral.

This friend of mine testified to this truth
and even went on to tell others
how he did it in a recent event!

And No! @richyblack; he isn't the
Bank Managers' in-law.

The Mentality of some has
been so warped and downtrodden
the people find it difficult to believe
in anything good.

I won't try to delve into motivational speaking
here, it's up to readers to work on their minds
to be able to recognize the truth when it
stares them in the face.

One thing is sure; Yes it is possible to
get Loan in Nigeria without collateral;
and My Friend got N75 Million in Loan
recently

and if you want to know how he did it
mail me --> fortsconsult @ gmail.com

Have Fun!

You are a Con Man looking for a victim here. You should be in Jail.

Hi, sabaestate, can you send me something like a template for preparing a business plan so that I can present it? I have been operating with a microfinance for 2years now and they no me, but no loan collected yet and I have a business name registered with a business to execute i.e production of house hold, industrial and health care commodities. So help me to know how to prepare it I only need N200,000 to start up the business anyone else who can assist me with a marketable business Plan write up can sen it to my email address lukenwoke@yahoo.com thanks so much in advance

@ poster,

What is the purpose of the loan you seek?

If you plan to start a business, what you need is equity/long term debt not a commercial bank loan. In that case, you need a venture capitalist firm like GROFIN (Diamond bank) or First Funds (First Bank). These firms will ask you for a detailed business plan, after the evaluation of your plan and identifying an exit strategy, they will advance you the funds you need structured as equity or debt. But they will likely be involved in the running of your business (like a seat on the board).

If you have been in business for a while (say one year or more), then it is very possible to get a loan from a commercial bank in Nigeria where collateral will not be an issue (but your business must be profitable and generating positive cash flows) though CBN frawns as commercial banks that lend without collateral.

If you require more clarification or have more questions, please feel free to post them

@nobilia

There's no need for name calling.

If you are upset with the
truth being decleared here
why don't you investigate?!

Just because you think
things are imposible because of
your warped way of thinking;
doesn't mean it's con.

For anyone who cares to
know about it;
It is absolutely possible to
obtain a loan without collateral.

If you want to know how to go
about it, invest the time in finding
out.

Period.

ForConsult:

@nobilia

There's no need for name calling.

If you are upset with the
truth being decleared here
why don't you investigate?!

Just because you think
things are imposible because of
your warped way of thinking;
doesn't mean it's con.

For anyone who cares to
know about it;
It is absolutely possible to
obtain a loan without collateral.

If you want to know how to go
about it, invest the time in finding
out.

Period.

[size=18pt]Guyz, beware of fraudsters[/size]

LMAO at the amount of posters here that have registered to scam and spam and have message counts as low as 1.

BEWARE OF THE YAHOO BOYS

@olivetree

Thank O jare

I beg tell them!

@Nezan

No time to waste on you.

looks like u just wasted a few seconds there.

@ poster,
of course u can get a loan without collateral.
Just walk into any bank of ur choice, ie. after u must have arranged 'awon boys' brandishing assault rifles. Borrow as much as u want. Honestly, it is tested and proven, no interest, no refund.

Forconsult, pls, i really really really dont mean to be offensive, i know u are really sincere but common observation have shown that the nigerian chemical reacts negatively when in contact real financial issues. Long story short, it goes to say that many sincere nigerians are criminals, but they just dont know it yet.

Did Someone not just explain what collateral is? It doesn't have to be a landed prperty, car, share certificates etc. Once the loan is secured, it could be said to have been collaterized. For salary earners enjoying overdraft facilities, their employers secure the facility through the covenant agreeed with the bank that their salaries and terminal benefits must be routed through the bank, and that is some kind of comfort to the bank.

For APGs or Project financing, there is something called domicilliation of account, which means that whatever contract you are executing with the loan from the bank, it must be paid into your account with the bank, and mind you, the bank is expected to be monitoring the extent of workdone and will be aware as soon as the money is paid because you wont be able to withdraw it as the account would have been 'liened' or put on 'post no debit' status until the bank has taken it's charges.

For the man claiming that his friend got N75M uncollaterized loan, i make bold to say it's not true. It's either you dont understand what collateral is or you are just passing a joke. While i agree your friend may not have submitted property documents (if your claim is true) He must have obtained some kind of bank guarantee from a reputable bank covering the loan before a finance house  undertook to disburse that amount, that of course depends on the nature of the facility, but the truth is, it must have been secured somehow. Otherwise, there must have been a breach somewhere along the line, and the bank will be terribly sanctioned should CBN Auditors discover it.

However, i must mention here that Microfinance loans are very friendly in structure and pattern, such that you will only require guarantors whose income would exceed a predetermined amount by the bank to disburse. E.g For N100,000 I know that some MFBs give loans once they have studied your withdrawal patterns and as soon as you provide two guarantors, but for N500,000, you will be required to get atleast one internal guarantor (a staff of the bank) if you dont have an item to collaterize the loan with, in which case the staff becomes responsible should there be a default.

@CGKing

Going by your post; you appear to
imply that it's safe to assume that
representatives of defaultltd
fall into the category of Nigerians
you have just described?

What I know is that nobody wants to part with his money for nothing, talkless of Banks who are always willing to milk you dry.

ForConsult:

@CGKing

Going by your post; you appear to
imply that it's safe to assume that
representatives of defaultltd
fall into the category of Nigerians
you have just described?

WT-? How'd do it? But d representatives dont proffer unrealistic proposals now? Thus not in that category

Men, the guy no gree leave story. Loan without collateral? Make una run o. Una know wetin AWUF dey do for belle. It just reminds me of an ice cream man who offered to sell me Fan Super Yogo for 40 bucks when in actuality it is 60naira. At my first sign of reluctance the guy kindly asked: "Oga how much u wan pay?". I just ja!

I have been in banking for over 20 years and I can tell you poster that it is possible to obtain a loan without collater, but since you mentioned that this is a start up business, it is virtually impossible. ,
Business plan is not a collateral

safariman, pls can u educate me on this.

nobilia:

You are a Con Man looking for a victim here. You should be in Jail.

Not so, i dont know this Forconsult person but I do know
it is possible to get bank loan without collateral.

I even know the man who got bank loan of N75 Million
myself.

We all believe you Mr. 2 Posts

LMAO

Thor:

We all believe you Mr. 2 Posts

LMAO

Were you never on Mr. 2 posts at a certain time
in your life Mr. I know it all?