The importance of loan for startups and already existing businesses cannot be over emphasized. There are so many people with lucrative business ideas but lack the wherewithal required for the ideas to metamorphose into business empires. Being determined to succeed, these zealous fellows resort to loan facilities so as to enable them achieve their dreams. In the same vein, there are so many small and medium enterprises (SMEs) that their dreams of survival and expansion are being threatened by insufficient funds and under-capitalization. In order to overcome this threat, they also resort to loan facilities. This is why loan is one of the most popularly searched keywords on Google and other search engines.

However, when these fellows approach financial institutions for loans, they are always frustrated by the stringent conditions and bureaucratic processes associated with loan facilities all in the name of collateral. Eventually, the innovative business ideas are abandoned while the SMEs stagnate and die because of their inability to meet up with the collateral.

In a bid to ameliorate the situation, some venture capitalists, philanthropists, NGOs, government parastatals, etc., have come up with the idea of giving out loan facilities without collateral so as to encourage entrepreneurship and industrialization. Most recent and innovative remedy is the spring up of crowd funding and investment platforms online where funds are raised by the crowd for innovative ideas and projects without collateral or interest.

Rising from the above, the preoccupation of this article is to explore these NGOs, Philanthropists, venture capitalists, government parastatals and crowd funding platforms where you can get loan facilities without collateral.

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