Thanks for checking in

This is more of a public service post to help both people who need financial help and those who want to help.

Before you ask for financial help on Nairaland, first make sure you put yourself in the shoes of the people who may want to help you.

Even if you are only asking for a gift, always remember that the money you are asking for could have been applied elsewhere

So give clear reasons why you think the money should be given to you instead.

And if you are asking for a loan, give clear SOLID security to assure your creditors that they can at least get back their initial capital.

Avoid the increasingly common ungrateful attitude of avoiding paying back where people say things like:

"Senior man, you pass this money na. Can't you just forget this money?"

OR

"It's not my fault that the business didn't work. I did my best. All business is a risk, and your money has gone with the risk. Daz all"

Such ingratitude makes it difficult for people to help others who may genuinely need help

And you investors, before you help someone, please feel free to ask questions to make sure you are putting your money in the right place.

Don't get fazed if the person you want to help starts getting an "attitude" like

"Ol'boy, these your JAMB questions too dey plenty. If you wan help, help jare!"

Better to clear all possible doubts than to become yet another "stories-that-touch" thread.

Thanks again for reading

Thanks bro, you nailed it on every point.
I once invited a Nairalander who needed loan of about 200k+ for one agricultural business like that to meet me at restaurant so we could talk. He came with a bunch of rough, non specific photocopied papers. I could understand the need to protect your original documents from theft or loss, so I asked him if I could get to see them later on, don't mind even coming down to his office or farm to see them, he said I could only see them after transferring the money. I let that slide.
When I started asking him other questions like how long he has been doing the business, the exact nature of the business (poultry farm? Crops? etc) he flared up and said such details could only be shared after investing! Needless to say I politely told him I was no longer interested. It's one thing to keep the exact nature of your business secret on a public forum like Nairaland, but doing the same when sitting face to face with a potential investor, that's just a no-go area.

Very well said!

I need a loan

Do not provide financing for a business out of pity or based on sentiments.

If you must give out money you cannot afford to loose make sure you first ask for a good collateral

Of course they do. Sometime last year somebody on here decides to give just #5k to some people and they will repay her in a month's time or so. While most of them complied, one moniker (Adaorajoy) defaulted.

Even though she got #10k instead of #5k (The OP mistakenly sent her twice) She deactivated her account and disappeared. I think she's masquerading with a new account right now. Here is a link to the thread https://www.nairaland.com/6058513/what-5k-within-28days

Klass99:
Nice one.

But, do people actually give loans to strangers on this forum?

What's the guarantee that the data they (loan applicants) provide about themselves is even accurate to begin with?

thesicilian:
Thanks bro, you nailed it on every point.
I once invited a Nairalander who needed loan of about 200k+ for one agricultural business like that to meet me at restaurant so we could talk. He came with a bunch of rough, non specific photocopied papers. I could understand the need to protect your original documents from theft or loss, so I asked him if I could get to see them later on, don't mind even coming down to his office or farm to see them, he said I could only see them after transferring the money. I let that slide.
When I started asking him other questions like how long he has been doing the business, the exact nature of the business (poultry farm? Crops? etc) he flared up and said such details could only be shared after investing! Needless to say I politely told him I was no longer interested. It's one thing to keep the exact nature of your business secret on a public forum like Nairaland, but doing the same when sitting face to face with a potential investor, that's just a no-go area.

Thanks for your kind words

You were wise to avoid falling for the "if-you-want-to-help-me-help-me" gimmick.

Maybe more people need to be educated on the time value of money.

The fact that one has some spare funds available doesn't mean he should throw it into any "deal" that comes along.

You're better off giving your spare change to a local orphanage near you than to some "desperate" fellow who doesn't want to share his business idea clearly

Thanks again

Agree

I felt real bad for the rest who couldn't get tge loan as a result of one bad egg. Since then, any moniker that has Adaora attached to it becomes a suspect lol.
I.e Adaorababy

The closest

Klass99:


Lol .

I am not surprised at the way Adaorajoy behaved, all the times I have jammed threads relating to money or giveaways, I read about rogues like her misbehaving after money has exchanged hands. Of course, she will return with a new moniker and may use a friend or relative's bank account in her next heist.

Klass99:
Nice one.

But, do people actually give loans to strangers on this forum?

What's the guarantee that the data they (loan applicants) provide about themselves is even accurate to begin with?

Thanks for your kind words

Frankly, there is no guarantee. That's part of the risk involved.

You'll just have to do your due diligence and try to get as much security as you can upfront.

Kobicove:
Very well said!

Thanks

NairalandAngel:
Do not provide financing for a business out of pity or based on sentiments.

If you must give out money you cannot afford to loose make sure you first ask for a good collateral

Preach!