Hello Nairalander good morning hope you're all doing great, so my uncle who is in the east called me this Morning that he's about to take a non collateral loan of 5 million naira from UBA and that I should advise him on a business or investment he can venture into. He said transportation is at the top of his list but he's unsure if 30 million naira would be enough to kick start the business. So what do you think? All opinions are welcome Thank you.


Cc lalasticlala , MrKnowitall, dominique

How can a bank give you a loan without knowing what you want to do with it?

He should know what he wants to do with the money before taking a loan. To avoid unnecessary Gbese.

A standard barbing salon, poultry farming, hotel business, bread factory, sales of building materials, nursery and primary school, oil and gas business and transportation business

Ennyholar:
Hello Nairalander good morning hope you're all doing great, so my uncle who is in the east called me this Morning that he's about to take a non collateral loan of 5 million naira from UBA and that I should advise him on a business or investment he can venture into. He said transportation is at the top of his list but he's unsure if 30 million naira would be enough to kick start the business. So what do you think? All opinions are welcome Thank you.


Cc lalasticlala , MrKnowitall, dominique

With that amount of money he can start up a church

buy 2 toyota spiders and put them on Ocar

Hundjager:



With that amount of money he can start up a church

lol....high ROI guaranteed

UBA can give as much as 30million loan without collateral? This is good news for enterpreneurs

shiftback:
buy 2 Toyota spiders and put them on Ocar

This isn't a bad idea at all

3

saintokwuluora:
How can a bank give you a loan without knowing what you want to do with it?

I don't think he'll walk into UBA and say "I want a 5million naira loan but i don't know what i want to do with it yet"

To invest in Transportion with 30 million is not a bad one, but from a loan? I think that's too risky, how about agriculture?

[quote author=Qadaffi2idiamin post=84436490]Get an additional N5M and start a trucking business.

You won't regret it after 8 months
[/quote

Please explain further. What type of truck? Expected returnetc.

[quote author=Sika07 post=84462161][/quote]Freight forwarding is one part of it using trailers as it is known here to transport goods from one state to the other and from sea ports or wharfs to warehouse which pays around 150k interstate or a neighboring state and 250k-300k for some distant states.

Its is profitable even transporting from one west Africa nation to another which many transport and freight forwarding companies have been involved in irrespective of the border dispute we have now.

However, N10M cannot buy a good trailer that can take all that stress without inflicting financial loses on you due to maintenance cost which could retire you from business early. This means you need much more to purchase a good trailer to get you your money in a short time and if its good and clean enough, oil and gas companies jostle to have you do business with them including major allied companies.

Part 2: A truck or tipper as its known here.
This vehicle is not articulated as stated above in part one. I'm sure you could see tippers on the roads with various seizes. These vehicles give alarming profits but require a much more experienced supervisor to supervise the activities of the driver so they don't breakdown within a short period of time.

Tippers to specific here, is the double axle trucks with 10 tires in all not the 6 tires Mercedes tipper.
The best vehicle for business here is the mack truck which comes in various models but can be very tricky to pick a good one. You could be tempted to buy a modern electric mack truck which costs around 12million with every gadgets that makes life easy for the driver but very and perfectly fragile for the task ahead or you can go for older models which are trustingly durable and reliable to handle the stress and pay you your capital in less than 8months especially now in dry season which jobs pours in on daily bases.

If your truck meets everyday target depending on the business of the day, you're expected to go home with N35,000 depending on what job everyday. There are jobs so you don't need to worry about jobs but all you need is keep up with maintenance of your machine.

These older trucks could be sold to you from N6M-N8M upwards for a good grade which can produce another for you in business within 8months leaving you with capital invested and profit.

Please note that you must have some kind of experience to follow up happenings in this business or you hire a manager with tested experience in trucking business else the disadvantages will bear in you.

If you have such capital. Be sure you are going to reap extensive profits and dividends of investment in trucking business.

You can always contact me for further advice if you're interested in doing business at this stage.

Good luck.

Ennyholar:
Hello Nairalander good morning hope you're all doing great, so my uncle who is in the east called me this Morning that he's about to take a non collateral loan of 5 million naira from UBA and that I should advise him on a business or investment he can venture into. He said transportation is at the top of his list but he's unsure if 30 million naira would be enough to kick start the business. So what do you think? All opinions are welcome Thank you.


Cc lalasticlala , MrKnowitall, dominique

How are you doing? I must confess that you asked a very good question. You can invest your N5M in very cheap plots of land at Ibeju Lekki whose value will appreciate by 200% within a year. For more information, call 0.8.0.6.7.8.7.6.2.5.1 or click on the links on my signature. Good luck.

Ennyholar:
Hello Nairalander good morning hope you're all doing great, so my uncle who is in the east called me this Morning that he's about to take a non collateral loan of 5 million naira from UBA and that I should advise him on a business or investment he can venture into. He said transportation is at the top of his list but he's unsure if 30 million naira would be enough to kick start the business. So what do you think? All opinions are welcome Thank you.


Cc lalasticlala , MrKnowitall, dominique

while thinking of what to do with the funds,while not invest in a fixed deposit with LAPO mfb for a month?.we can offer up to 10% annual interest . check my SIG for details

Hello, if your write up is very true then we can partner on fast food business here in Lagos. Lagos island precisely due to the availability of market and higher purchasing power. Am already into such but looking for a partner to go into bigger space and because of the cost of rentals on the island, I have been limited. The project cost about 10m naira... 3m goes into rentals, 2m into furnishings and utensils while the remaining 5m will be invested into other forms of business this is to guarantee another source of income.
At the moment, I can only raise half of that cash which is 5m. If this idea of yours is very real, we can meet at any location of your choice, you can also make request to come see my business place on Lagos island. At the moment, the currently guaranteed business with good returns on Lagos island are food, hotels and bar. If you still do not buy the idea of a restaurant. We can partner to open a standard bar at Lagos island just by former national mirrors news paper. Jimo Ibrahim is currently leasing the properties out and there's a section by the road side which cost about 1.5m annually. If well furnished, believe me we are in money. But I still do understand if you don't buy my idea

fineguy11:
while thinking of what to do with the funds,while not invest in a fixed deposit with LAPO mfb for a month?.we can offer up to 10% interest per month. check my SIG for details

10% per month or per annum?

moshoodn:

10% per month or per annum?

per annum.let's say u fix it for 30 days, it should yield about 40k+net after WHT.

moshoodn:

10% per month or per annum?

dont mind the useless fixed deposit... 500k on 5million yearly it's totally rubbish..

It is better he does his research and know what to do with the money before takin the loan. He will have to invest in a business that he will Profit monthly and have extra by the end of the year since he will be required to also put interest.

laurel03:
dont mind the useless fixed deposit... 500k on 5million yearly it's totally rubbish..

Lol I think say na only me reason am?

Buy 2 cars and put on Uber or bolt

Plenty businesses for sure. But one can consult a financial analyst for advice in this Buhari economy

hello sir.......
please i really need your help....
the business am talking about is production of motor engine oil and the capital is ₦10 million naira.
please read my new thread below to know more on it thanks......
https://www.nairaland.com/6910346/join-hands-together-produce-motor