We are entreprenuers seeking for a loan of N18m to pay 10% interest on investment monthly for 24months, with six months moratorium before repayment. The loan is to be used to start an executive transport company. We want to fill the gap that has been left in the transport sector. We want to offer a luxurious and reliable means of transportation. The individuals of today especially the young ones at heart wants a comfortable and reliable transporter. We have studied our competitors and discovered their weaknesses. We plan on capitalising on these weaknesses of our competitors to gain an edge and succeed subsequently. I as an entrepreneur with B.Sc in management has five years of experience in the transportation sector. We have pending, different promotional programs lined up and we will continue to focus and invest in maintaining leadership position in the market. We are prepared to make presentations to our potential investors. We are specific in our need for financing. Thanks.
Frm: Ujinge John. 08036300677.

Just like that

No financial security plan in place
No success story
No back up plan and you expect people will just trust what you said here and next thing will be to part with their hard earned cash?

I don't think so.

Do a proper feasibility study and engage a professional to write a business proposal etc.

Good luck!

emma2002:
Just like that

No financial security plan in place
No success story
No back up plan and you expect people will just trust what you said here and next thing will be to part with their hard earned cash?

I don't think so.

Do a proper feasibility study and engage a professional to write a business proposal etc.

Good luck!

You dont conclude on issues you have little knowledge about. You ask questions and seek clearification instead of outright condemnation. Well all thesame thank you.

I know transport business is profitable but why borrow @ 10% per month. That's 120% per annum.

That's quite expensive. Also considering the fact that you will make provision for depreciation, repairs, maintenance, etc.

Why not seek for equity funding?

But at the end of the day it's your call. Wish you luck.

Let's promote the transportation Industry in this country

mrsage:
I know transport business is profitable but why borrow @ 10% per month. That's 120% per annum.

That's quite expensive. Also considering the fact that you will make provision for depreciation, repairs, maintenance, etc.

Why not seek for equity funding?

But at the end of the day it's your call. Wish you luck.

Let's promote the transportation Industry in this country

please is equity funding the best for start up smes. i seeking a loan too, though i have a collateral in form of landed properties but i dont want to be tasked with the burden of excessive loan interests. kindly offer your advice.

AktorLee:


please is equity funding the best for start up smes. i seeking a loan too, though i have a collateral in form of landed properties but i dont want to be tasked with the burden of excessive loan interests. kindly offer your advice.

I believe equity is better. With equity funding, you face less pressure, you can tap into the experience of your equity partners and you both share risk and rewards. If you ask me, its more natural as against a loan option.

The gospel truth. In this part of the world, we usually want to own it all. Thats why we love the debt option. #My opinion

mrsage:
I know transport business is profitable but why borrow @ 10% per month. That's 120% per annum.

That's quite expensive. Also considering the fact that you will make provision for depreciation, repairs, maintenance, etc.

Why not seek for equity funding?

But at the end of the day it's your call. Wish you luck.

Let's promote the transportation Industry in this country

Thanks, i have done my feasibility study with all those expenses included and the business was still profitable, though it took a long time for the biz to break-even. If you have any info about investors who are willing to invest in the business, i will be grateful.

mrsage:


I believe equity is better. With equity funding, you face less pressure, you can tap into the experience of your equity partners and you both share risk and rewards. If you ask me, its more natural as against a loan option.

The gospel truth. In this part of the world, we usually want to own it all. Thats why we love the debt option. #My opinion

You are quite right there, at times greed tend to take the better part of us. One thing i have come to realise in business is that its safer in partnership than sole proprietorship, since in partnership, emotions and sentiments are kept out of the biz.