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Things are hard in Nigeria sha. some ppl my not like to loan u money because of what they experienced in the hands of other. Its a case of one beans spoiled the rest

Hmm. my guy what a story you have here.
FG is giving loans to businesses and individuals through microfinance bank to combat the effect of covid, most people who applied have received theirs.

But don't you think going back to school without establishing your business first will affect you?

Xristars:
Hmm. my guy what a story you have here.
FG is giving loans to businesses and individuals through microfinance bank to combat the effect of covid, most people who applied have received theirs.

But don't you think going back to school without establishing your business first will affect you?

I overcame thank God

Hey why not apply for the cbn/edi loan? You might be lucky

gentlestdude:
First of all let me share how it all started. I'm a orphan since I can remember I have never really 'enjoyed' life like most people I know always been from hand to mouth, some years ago I just got into 400lvl in a five years course (I was also finding it difficult to cope because I was pushed to the department and really knew nothing about it I've always been a practical person not mathematics stuff) then I suddenly lost my uncle who has been helping with my fees, I was unable to pay school fees until the portal closed, I was out of school working as a labourer until end of semester, I raised 15,000 for the school fees, got to the bank to make payment and was rejected at the bank, went all around my department but no one to help all lecturers saying there's nothing they can do about it. I boned and wrote the exams like that, results came out and 9 courses came out as unregistered (automatic carryovers and extra years, I had about 2 outstanding courses before).I was also having cultism issues though I was never a cultist, only a victim of circumstance (that's another story for another day).

This shattered me and I slipped into depression, returned to Lagos and someone introduced me to fraud, I made $50 and but couldn't continue after the man was crying uncontrollably in a video, my heart couldn't take the anguish so I had to stop. I've always been a business enthusiast and developed lots of business ideas, Then I had 10k and had a very short period to start a business that will provide daily bread as I was squatting and couldn't get a job, so I went into drugs, yes hard drugs. I changed the face of the business in my area (most dealers are rough and dangerous but I was the calm and clean dealer so in no time i had customers but the business is highly competitive. I didn't like what I was doing then one bit but I had no choice. Had to stop after about 3 months because of the eyes on me and it was getting riskier. While doing that I developed a nice business plan for a salon (also can be used in other business), I learnt barbing back in school and really good at it but haven't established because of lack of funds.

Fast forward to this year, I'm processing admission into my dream course (civil engineering) in a new institution and I've decided to setup a salon and finally use the business plan for myself (I know about 5 people who I shared the idea to hoping they will help but ended up opening a salon for their family member and they're making cool cash because the business plan enables your customers to always come back to your shop thereby making you the main service provider in the area), this will also enable me to train myself in school without much stress.

Now back to the topic, my question is 'WHY IS IT SO HARD TO GET A LITTLE LOAN TO START A BUSINESS IN NIGERIA'. This business is so sure for me that I'm always ready to add 50,000 interest whenever I beg someone for a loan but I've noticed the ones who have this money are always scared to believe in people. You will know someone had the money lying waste but ask them for a loan they will give you stories but ready to take you balling spending unnecessary money on drinks and drugs, sometimes I'll just sit and calculate the money someone just spent on something unnecessary, and realize it's enough to set me up for life, one or two tears might drop. I've tried to get into cooperative buy most times the money they will promise is not even enough to rent a shop. My plan is to have a barbing salon, then start a game\bet shop and finally wrap it up with a boutique before I graduate but question is where to get that first and last help. Most successful businessmen today started with that little loan to establish their business but these days it's a different case even family members are not ready to help. Sometimes I feel I'm cursed from small.

I'm sure I'm not the only one in this shoe, to everyone out there with a big vision and dreams but no one to believe in you, keep believing in yourself. You will get there someday.

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