I Need A Loan From Micro-Finance Banks

to get a loan in a microfinance bank is quite easy only if u have done a proper paper work as  to what to use the money for and how to spend it judiciously -profitable business. A good business plan is always required.if you don't know how to go about it , i will advice you get a consultant that will help you to do that .it will help you quite a great deal.  Note that no bank will give  loan without adequate background check on the proposed business, therefore your business plan is very important.

Hello guys all of you have make good suggestions but the truth in getting loans from the banks is that they will demand many things that at the end of the day will make you sad and frustrated.

Most people seeking for this funds don't have all the requirement they will request. Some of the things they will request are:

Corporate governance,
Wonderful credit facility history,
Record keeping,
An enticing business proposal and so on

So they make it very difficult for people to approach them for unless you have GODFATHERS/MOTHERS in the banks before it will be easy for you.

I advice that people should seek for other means of getting loans for business like asking friends, family members and co-operate unions for loans.

For more on places to get loans even up to N400m without going to the banks just contact me via email greatermindinitiative@gmail.com.

To Your Success.

A private company in which i am a shareholder applied for and got a microfinance loan last year. Here's what you need to do to make it happen.

Open an account and run it for three months. The key here is to make sure that the inflow in any one of those months is equivalent to 30% of the total amount you want to borrow. Why?

Most MFBs grant loans with 3 months tenor. The thinking is that if your business brings in 30% of the loan amount monthly, then there is the likelihood that in 3 months, you will be able to clear the loan payments.

Loans are not suitable for every business. Please remember that. So before you stick your neck out to borrow, make sure you actually need that loan. 

@ the house
i didn't even know the post was still recieving comments.
i have collected the first loan from Nieghbourhood MFB, but their tenor was short and the intrest outrageous, although i was able to pay back before the one month.
I collected # 500,000.00, and paid #20,000.00 as intrest within one month.
I wanted to get a roll back, but they had a management problem ,and up until now, they are still shaking.
Nigerians and poor business mentality.
But currently sha,  i want to run things with a new  MFB, by name PET MFB, their intrest  is far lower than others, just 3%, and i need it FAST!!!!!!

@JODESKY
Not all men are shallow minded
we are talking about real men, with high business I.Q
Okay