Loan of N450, 000 needed to inject into my business so as to increase production.


Nature of business: Vegetable oil Production.


Location: Kaduna


Offer: 30% interest on the loan amount.


Payment Mode: Monthly


Medium: Post Dated Cheques


Duration: 10 Months.



Thanks and best regards.

Contact: grownaira@gmail.com

grownaira@gmail.com

Come on, this is too much, that is 30% is N135k on N450k. Take it easy now.

tokuboeric:
Come on, this is too much, that is 30% is N135k on N450k. Take it easy now.

Yes. it's too much boss. Very too much even.

Ideally we SMEs should be able to access funding from banks and the government at interest rate not more than 12% and for a period of at least 24months.

But you will agree with me that Nigerian banks are hardly ever ready to finance small and struggling businesses especially if the promoters have no tangible collateral to offer.

Now, microfinance banks and private lenders are always after a high interest deal and a short repayment period. Most microfinance banks for example offer 20% interest and a repayment period of six months. Many private lenders will even demand for as much as 50%.

The argument is always geared towards the fact that they are willing to offer help to small businesses without demanding for any tangible collateral.

So from experience, I will be wasting my time should I come here with a 12% offer.

Regards.

uyk

grownaira:
Loan of N450, 000 needed to inject into my business so as to increase production.


Nature of business: Vegetable oil Production.


Location: Kaduna


Offer: 30% interest on the loan amount.


Payment Mode: Monthly


Medium: Post Dated Cheques


Duration: 10 Months.



Thanks and best regards.

Contact: grownaira@gmail.com

Are you still open for new investors?