In Nigeria today, there are 2 kinds of businesses from my finance and SME consulting standpoint; those always looking for money, capital or funding and those that money is chasing.

As a small business owner, you can decide to be later. 8 out of every 10 business owner out there believes lack of funding is the number one business challenge they face. However, the growth of the Nigerian financial services industry over the last few years has expanded access to loans, equity, lease and other forms of investor financing for businesses in Nigeria. Banks, Investment firms, Private equity investors, venture capital firms and even angel investors are today eager to invest in viable ideas and businesses in Nigeria. However they would not consider backing a company that does not have a well written business plan, grant proposal , pitch deck or feasibility study.

A Business Plan is a document that conveys the exciting prospects and growth potential of your company and the intending business is the heart of obtaining any form of financing. It also helps to sell the business to potential financiers and other backers; and should be done be for the start up of a new business, the development and marketing(launch) a new product or service, expansion of an already existing service or product into new markets.

Approaching debt financing with your businessplan, you will have to know and prepare for the 5C’s of Credit. This is like a pre-qualifying criteria used to assess loan application.
 Character
 Capacity
 Capital
 Collateral
 Conditions


See full article on Linkedin: GETTING FUNDED WITH A BANKABLE BUSINESSPLAN https://www./getting-funded-bankable-businessplan-edward-esene

PlusInnovaHub:

In Nigeria today, there are 2 kinds of businesses from my finance and SME consulting standpoint; those always looking for money, capital or funding and those that money is chasing.

As a small business owner, you can decide to be later. 8 out of every 10 business owner out there believes lack of funding is the number one business challenge they face. However, the growth of the Nigerian financial services industry over the last few years has expanded access to loans, equity, lease and other forms of investor financing for businesses in Nigeria. Banks, Investment firms, Private equity investors, venture capital firms and even angel investors are today eager to invest in viable ideas and businesses in Nigeria. However they would not consider backing a company that does not have a well written business plan, grant proposal , pitch deck or feasibility study.

A Business Plan is a document that conveys the exciting prospects and growth potential of your company and the intending business is the heart of obtaining any form of financing. It also helps to sell the business to potential financiers and other backers; and should be done be for the start up of a new business, the development and marketing(launch) a new product or service, expansion of an already existing service or product into new markets.

Approaching debt financing with your businessplan, you will have to know and prepare for the 5C’s of Credit. This is like a pre-qualifying criteria used to assess loan application.
 Character
 Capacity
 Capital
 Collateral
 Conditions


See full article on Linkedin: GETTING FUNDED WITH A BANKABLE BUSINESSPLAN https://www./getting-funded-bankable-businessplan-edward-esene

Getting a loan goes beyond just having a good business plan.

Experience in managing a similar business is perharps the most important factor a potential loan provider will consider