There are lots of business ideas in the average Nigerian mind. This ideas might be very beautiful and seem worth implementing. However, just a handful of these ideas make are translated to real businesses. There are lots of reasons responsible for this. One known reason is the lack of access to the needed capital.

With this in mind, I have put down 10 top places to get business loans in Nigeria, the knowledge of this places will be very instrumental in making your ideas a reality.

These places include;

Bank of Industry
The bank of industry is a financial institution that was established to help businesses in need of funds. Businesses the Bank of Industry has in focus are those that are engaged in manufacturing and processing. The bank of industry funds only registered companies. As a result of this, individuals or groups are not eligible to get loans from this institution.

As far as business financing is concerned, the bank of industry only comes into the picture when expensive industrial equipment need to be purchased. Other business expenses such as warehouse buildings, factory buildings, and payment of staff are not the duty of the Bank of Industry. The loans from the bank of industry are given to whatever company is to supply the needed equipment. As a result of this, borrowers do not get cash.

Aella Credit
Aella Credit is a firm involved in lending personal loans to new and existing businesses. Aella Credit has its major focus on technology, risk management, analytics and finances. This firm is at the forefront of giving out personal loans. This loans are not just given out, they are very affordable.

In addition to offering loans with very low interest on payment, Aella credit also offers some level of financial intelligence training to its customers. This is to enable them handle whatever loan they are given properly.

Kia Kia Business Loans
Just as the name states, Kia Kia business loans is a firm involved in giving out business loans to business people when they need it the most. Kia Kia Business Loans are made available to the borrower less than two hours after the loan is requested.

It is mind blowing that with this firm, a loan can be requested for and gotten without any form of physical meeting. This sounds a little difficult to believe, however, it is absolutely true.

Kia Kia business loans are only given to individuals that have a very genuine identity. This makes it impossible for fraudsters to take advantage of it.

Zedvance Limited
Zedvance limited is a financial organization that always strives to keep its word. Integrity is the watch word at this firm.

At Zedvance limited, consumer credits are made available to borrowers in the most convenient manner. Some services offered by Zedvance limited are Cash Loans, payday loans and point of sale finances. While making use of Zedvance, it is important to note that point of sale services are only available to consumers that are located in Lagos.

Zedvance is known for delivering their services on time and still maintaining top notch quality services.

Rosabon Business Loans
Rosabon Business Loans can be gotten just when you need them the most. It is the “go to” firm as far as urgent loans are concerned. This firm is very flexible and offers loans not just for the purpose of doing business but for lots of other purposes such as payment of school fee, funding a wedding party, funding a burial ceremony and a lot others.

Loans gotten at Rosabon can be paid easily because of the low interest rates they come with. Also these loans can be gotten without a collateral.

UT Personal and Social Loans
UT personal and social loans are very profitable for business people. If you run a business and have a deadline to meet but are hampered by financial constraints, then UT personal and social loans are perfect for you.

UT personal and social loans have built a reputation for meeting making your requested loan available between 72 hours. With this you do not have to wait indefinitely before getting a loan as far as you meet their requirements.

Some categories of UT personal and social loans include Working Class Loans, Stop Gap Loans and Special Purpose Loans.

Seedvest Business Loans
Small, medium and micro enterprises are some of the reasons Seedvest business loans are available. This loans help already running businesses expand. It is also available for individuals looking to start their own business but lack the needed capital.

The least amount that can be borrowed from seedvest is not stated, however, the highest amount that can be borrowed is N5 million. For this monies to be borrowed, assets that are at least equivalent in worth should be presented.

Some requirements for this loan are a guarantor, a copy of bank statement and a perfectly filled application form.

RenMoney Business Loans
At RenMoney, business people can borrow monies for growing their businesses without needing a collateral.

RenMoney has been in operation for about 5 years and has grown from operating in just one office to having five different offices in Lagos. Some of this offices are located AT Apapa, Ikoyi,Surulere, IIkeja and Ikota.

Customers that are borrowing from RenMoney for the first time can borrow up to 2.55 million and can pay back within a period of 3 to 9 months.  Customers that are returning even have a more flexible and longer period to complete their payment.

OneFi Business Loans
OneFi business loans was established for the purpose of making funds available to individuals that lack access to business funds. This funds are usually short term and affordable.

At OneFi business loans, a lot is out into making customers satisfied and important. This loans are available to individuals from all parts or Nigeria. Distance is not considered a barrier.

Commercial Banks
Commercial banks come last on this list because they are the most known venues to source for business loans. Although other places that business loans can be gotten are very effective, commercial banks are more known to the general public.

At commercial banks, there is a broad variety of loans that can be obtained for business purposes. Also, different commercial banks have different ways of lending and criteria that should be met before loans are given out. Most popular among these criteria are an active account with the bank to be borrowed from, a collateral and sometimes a guarantor.

With the knowledge of the various places business loans can be gotten, starting a business will definitely be much easier for young entrepreneurs. If are looking to start up a business, there is no point wasting more time. You can Get to any of these firms and obtain the needed loan.

Source: iDONSABI.com

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Business / Project financing

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