From the book "The wise Investor" by mark mcllroy

3 essential factors in accessing credits from banks, the 3 "c"s every lender looks for in a borrower
1) Cash flow : your cashflow determines how well you u'v been handling volume of cash

2) collateral : this is self-explanatory

3) character : Lenders love stability and hate change. When you are fond of changing jobs or changing homes, you cause them to worry.

story for the gods!
nigerian banks are like women, when you don't have the money, you will be going after them, but when your business booms, you will see them coming everyday. sending their rebranded & polished oloshos to come and seduce you.

i blame it on the money!

deebsman1:
NICE 1 OP, anybody looking for equipment finance/loan should explore the Bank of Industry

My brother, BoI is not encouraging at all in that regards. U go request for an equipment of 500k, and they procure it at 30-40% margin for u. That means u will pay 500k plus 40% at the end of the tenor. It's well with the biz financing in our blessed country

i think i can authoritatively tell u what u wrote is gross misinformation, BOI have 1 of d lowest interest rates in d industry, especially in d agric line for SMEs with an interest rate of just as low as 9%, spread as long as 5 years....quote me anywhere

standfit5:

My brother, BoI is not encouraging at all in that regards. U go request for an equipment of 500k, and they procure it at 30-40% margin for u. That means u will pay 500k plus 40% at the end of the tenor. It's well with the biz financing in our blessed country

vascable:

Source:- http://marvejohndaily.com/how-to-successfully-get-loan-for-your-business/
Cc: seun, lalasticlala, obinoscopy

guy you are definitely not a nigerian!

.money main for entrepreneurs has been diverted to cabal in Lekki.......but thank God the both end up in court,I have been begging bank to finance my company mothan 1year now,everything about them is big big grammar,projection etc......maybe government shld setup a portal that will be borrowing people money direct.

deebsman1:
i think i can authoritatively tell u what u wrote is gross misinformation, BOI have 1 of d lowest interest rates in d industry, especially in d agric line for SMEs with an interest rate of just as low as 9%, spread as long as 5 years....quote me anywhere

How we address/respond to issues is very key in business related discussions. You own your opinion just like I do. The word "gross misinformation" to me is not appropriate in driving home our opinions on this as we r sharing experiences that can help some one now or at a late date. Will it interest u to know my point was from personal experience, that I had taken a proposal to this same folks sometime last year? Will this correct you perceived "gross misinformation"?

People should get their facts right and stop shallow assumption.

All what the OP said is outright correct and applicable in Nigerian bank, I CAN SAY THIS AUTHORITATIVELY because I work with one of the top4 banks in Nigeria, we grant loan, even when you don't have collateral, there are different loan structure, contact your bank if you are still in doubt.

vascable:


i dont write about anything i havant tried..

that is because ur business have be running for same year now. But for starter's like us they don't listen to us. Evan with our good business plan.

Hello op what if i collect 500k what will be the interest?

We give up to #2.5million quick cash loans to salary earners, self-employed and business owners in less than 24hours... Call RenMoney today on 07046531118

No collateral needed and u get ur cash within 24hours..

Long story! Go to LAPO MFB close to you, you would get that amount that is okay for your business. Two friends got the exact money they needed for their businesses.

"Shell and chevron to sack 18500 workers, they are shutting down operations.

Just watched the news now but I'm not moved at all cos I have helping hands as my plan B.


What's your PLAN B?? Check my signature

Please where can I get loan of 30k, its really urgent.

Do you need a need? Personal Loans? Business Loans? Mortgage loans?
Agricultural and project funding?
We give out loans at 3% interest rate! Contact email
(ricadonnafinancialconsults4@homail.com)

There are a couple of other platforms in Nigeria where you can get loans without collaterals.

C24 Pay later, KiaKia, 9mobile. You may probably read more here

beautybrains1:
People should get their facts right and stop shallow assumption.

All what the OP said is outright correct and applicable in Nigerian bank, I CAN SAY THIS AUTHORITATIVELY because I work with one of the top4 banks in Nigeria, we grant loan, even when you don't have collateral, there are different loan structure, contact your bank if you are still in doubt.

Please a quick question for you.. I just won a contract to supply a reputable firm with some goods..my question is can the bank finance this contract for me? Since this is my first ever contract as I just registered my business name.. Can the bank finance this 100% and if yes what could be the possible interest rate? Please you can educate me base on your bank.. Thank you