To get proper and accurate info pls cal tony on 07035866823

The answers have been provided here on this forum several times.

Visit a registered microfinance bank, open an account and make sure that your inflow in that account on any given month is equivalent to 30% of the amount you are going to borrow.

You have to run the account for three months to qualify to apply. This will enable the bank assess the credit worthines of your business before your application can be granted.

The essence of making sure that your account inflow is equivalent to 30% of the amount you want to borrow is this: most loans have a tenor of three months. 30% x 3 months is about 90%. So that will give the bank confidence that you can repay since they are collateral-free.

Use the loans only for business, not for acquisition of non-business related property. It is better to start with smaller loans that can be paid back wothout much stress. Prompt repayment of a loan makes it easier to get another.

This information I am giving out is what enabled my company borrow and pay back a loan form a microfinance bank last year.

I need to state that membership of a viable cooperative society is an even better option. make monthly contributions and have a business on ground and you can get loans up to 3 times your deposits. Good for salary workers and those with small businesses like food business that bring ibn good income.

By the way, does anyone know how much those people that sell fried yam, plantain and potatoes make on a daily basis in terms of profits? I was astounded by the figures when I did a study recently. There are a lot of business people look down on as "undignifying" that is raking in money for those who are doing them. Who says you need plenty of money to start a business in Naija?

@ Stagger

While FOOLS (419) keep on posting phone numbers to contact on loan, u humbly and gladly post the entire info.
Thank u so much.
I'v been looking for this info since bt thank God u'v made my day.
God bless.

Well done Stagger . . .

FBN MFB gives loan within a month, maximum of N500K