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Nyif Loan Discussion Thread - Business (10) - Nairaland

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Nyif Loan / NYIF Loan Application Portal: How To Apply, Verify Your Email / If Given The FG NYIF Loan Of -N-5M, What Would You Do With It? (2) (3) (4)

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Re: Nyif Loan Discussion Thread by oxx4: 10:07am On Feb 20
No
viexcey:
Please....
For those that have applied successfully for non-resgistered business, did you submit your business plan as a document?
Re: Nyif Loan Discussion Thread by viexcey(f): 10:09am On Feb 20
oxx4:
No

Okay... Thanks
Re: Nyif Loan Discussion Thread by waley007(m): 10:16am On Feb 20
Please what is local govt certificate , is it my state of origin certificate ?

1 Like

Re: Nyif Loan Discussion Thread by Kapilta(m): 10:21am On Feb 20
waley007:
Please what is local govt certificate , is it my state of origin certificate ?
Wen u enta skul dat year dem no ask for local govt certificate of origin for clearance time ni?
Re: Nyif Loan Discussion Thread by Nurex1(m): 10:22am On Feb 20
Please guys, I am stock at the loan purpose page and the system is telling me to match the requested format. I am confused here ooo

1 Like

Re: Nyif Loan Discussion Thread by KingAbdulazeez: 10:22am On Feb 20
waley007:
Please what is local govt certificate , is it my state of origin certificate ?
yess
Re: Nyif Loan Discussion Thread by Kapilta(m): 10:24am On Feb 20
Fucklove:
Ask yourself if the question you asked made sense to you. You guys keep repeating stupid questions here. I hate seeing this embarassed angry
Someone yaff vex grin
Re: Nyif Loan Discussion Thread by DeClan01: 10:37am On Feb 20
Nurex1:
Please guys, I am stock at the loan purpose page and the system is telling me to match the requested format. I am confused here ooo


Just use "Startup" or "Expand my business" it will go through. Whichever applies to you

1 Like

Re: Nyif Loan Discussion Thread by waley007(m): 10:57am On Feb 20
KingAbdulazeez:

yess
thanks

1 Like

Re: Nyif Loan Discussion Thread by InvestmentMood: 11:41am On Feb 20
have successfully verified my account. But I couldn't login. I was very sure of the password & email I used, yet is saving invalid email or password.
I have tried resetting password, but no message in my email.
Pls, help a brother in need of LOAN
Re: Nyif Loan Discussion Thread by FlexyGy(m): 11:58am On Feb 20
InvestmentMood:
have successfully verified my account. But I couldn't login. I was very sure of the password & email I used, yet is saving invalid email or password.
I have tried resetting password, but no message in my email.
Pls, help a brother in need of LOAN
use Firefox browser, to login
Re: Nyif Loan Discussion Thread by ADEBAZ95(m): 12:04pm On Feb 20
Please guys, I encounter a problem. Who is done with this NYIF. How do you manuerve it.

I have issue with where I cycled. I write my purpose but it is saying I should follow the format of 10 minimum characters.

Do we even have up to 10characters?

I guess it was mistake.

Re: Nyif Loan Discussion Thread by Nurex1(m): 12:22pm On Feb 20
[quote author=ADEBAZ95 post=99250666]Please guys, I encounter a problem. Who is done with this NYIF. How do you manuerve it.

I have issue with where I cycled. I write my purpose but it is saying I should follow the format of 10 minimum characters.

Do we even have up to 10characters?

I guess it was mistake.

Write "Start up" or "Expand my business" as it applies to you
Re: Nyif Loan Discussion Thread by ejimbe92634: 1:04pm On Feb 20
Wasn't easy at all but Thanks to God.
Here is a few tips that can help us.
1-Try midnight hours to verify account, if u have a link on ur email try the last link sent for most of us that had multiple links
2- even when it keeps messing up keep trying, I never got a confirmation that I am verified until 5am today I tried again and I saw one time notification above that this user has been verified.
3. Log in and and always try to attempt log in u never can tell if uve been verified.
4.start application
5.chat ur self up o. Wattsapp, keep a detailed info about ur business so u can easily copy and paste.
6. Write down in a book ur average monthly expenses, average monthly profit, profit in a year, monthly expenses. So u can reach out and type it in once u see the dashboard.
7. Even when that loading button is delaying u tap reload or send again.
Good luck to us

1 Share

Re: Nyif Loan Discussion Thread by kenddys(m): 1:14pm On Feb 20
ejimbe92634:
Wasn't easy at all but Thanks to God.
Here is a few tips that can help us.
1-Try midnight hours to verify account, if u have a link on ur email try the last link sent for most of us that had multiple links
2- even when it keeps messing up keep trying, I never got a confirmation that I am verified until 5am today I tried again and I saw one time notification above that this user has been verified.
3. Log in and and always try to attempt log in u never can tell if uve been verified.
4.start application
5.chat ur self up o. Wattsapp, keep a detailed info about ur business so u can easily copy and paste.
6. Write down in a book ur average monthly expenses, average monthly profit, profit in a year, monthly expenses. So u can reach out and type it in once u see the dashboard.
7. Even when that loading button is delaying u tap reload or send again.
Good luck to us

Did you complete it this afternoon?
Re: Nyif Loan Discussion Thread by ADEBAZ95(m): 1:50pm On Feb 20
[quote author=Nurex1 post=99251180][/qu

You dont get.

The thing is asking for 10 characters, like when forming strong password and u are asked to use different characters.


Who is sole proprietor and has successfully submitted. How did you get pass the LOAN PURPOSE.
Re: Nyif Loan Discussion Thread by dhope: 1:56pm On Feb 20
ejimbe92634:
Wasn't easy at all but Thanks to God.
Here is a few tips that can help us.
1-Try midnight hours to verify account, if u have a link on ur email try the last link sent for most of us that had multiple links
2- even when it keeps messing up keep trying, I never got a confirmation that I am verified until 5am today I tried again and I saw one time notification above that this user has been verified.
3. Log in and and always try to attempt log in u never can tell if uve been verified.
4.start application
5.chat ur self up o. Wattsapp, keep a detailed info about ur business so u can easily copy and paste.
6. Write down in a book ur average monthly expenses, average monthly profit, profit in a year, monthly expenses. So u can reach out and type it in once u see the dashboard.
7. Even when that loading button is delaying u tap reload or send again.
Good luck to us
congrats to you bro. I have laboured seriously to get this thing completed but to no avail. After receipt of sms prequalification notification, I have validated my bvn and landed on my page but I have a challenge going forward to continue my application because error messages keep popping up after choosing registered business, supplying my LGA cert and description of my business. What browser did you use and did you do everything only at midnight because I have spent almost three nights now trying it but error messages keep coming. Thanks
Re: Nyif Loan Discussion Thread by Solomonmonday82: 2:06pm On Feb 20
Were your mailed after the preselection sms?
I haven't received any mail from them since I was preselected [quote author=Nurex1 post=99251180][/quote]
Re: Nyif Loan Discussion Thread by ejimbe92634: 3:15pm On Feb 20
kenddys:

Yes
Did you complete it this afternoon?
Re: Nyif Loan Discussion Thread by ejimbe92634: 3:19pm On Feb 20
dhope:

I completed mine around the same time I made my post say around 11-12 noon, but I only noticed I was verified this around 5 am.so I tried from them till I got lucky.
Bro I used opera to get the work done but I was opening on Mozilla and chrome too
congrats to you bro. I have laboured seriously to get this thing completed but to no avail. After receipt of sms prequalification notification, I have validated my bvn and landed on my page but I have a challenge going forward to continue my application because error messages keep popping up after choosing registered business, supplying my LGA cert and description of my business. What browser did you use and did you do everything only at midnight because I have spent almost three nights now trying it but error messages keep coming. Thanks
Re: Nyif Loan Discussion Thread by ejimbe92634: 3:24pm On Feb 20
Loan purpose- for a lucrative business venture.
This alone I believe should do as it did for me
Re: Nyif Loan Discussion Thread by ejimbe92634: 3:29pm On Feb 20
InvestmentMood:
have successfully verified my account. But I couldn't login. I was very sure of the password & email I used, yet is saving invalid email or password.
I have tried resetting password, but no message in my email.
Pls, help a brother in need of LOAN
Once ur account is verified u will be able to sign in but first u must have received ur pre-qualification sms, proceed to the link on d sms, get ur verification email ,and get ur acct verified
Re: Nyif Loan Discussion Thread by Xtopherprince(m): 3:47pm On Feb 20
Acidosis:




I don't know the nature of your business and whether your previous selections justify the amount you seek but use this as a guide (you might need someone else to confirm the figures cos I did this in a hurry). Also note that these figures are appropriate only for a long tenure (e.g. 2-3 years). If you're considering paying back in one year, your sales revenue and gross profit should be higher.


Monthly sales revenue for 12 months -- N1,500,000

Projected monthly sales revenue (the above divide by 12) -- N125,000

Projected monthly operating expense (at least 40% of the above) -- N50,000

Projected monthly gross profit (N125,000-50,000) = N75,000

Projected annual operating expense (N50,000 x 12 months) - N600,000

Projected gross profit (2021) (75,000 x 12 months) - N900,000

Projected gross profit (2022) (increase 2021's gross profit by 10-20%) - e.g. N1,080,000

Projected gross profit (2023) (increase 2022's gross profit by 20-30%) e.g. N1,296,000.




Thanks for this. Quick question, based on the figures above, how much would be your annual net income ?
Re: Nyif Loan Discussion Thread by dhope: 4:16pm On Feb 20
ejimbe92634:
Wasn't easy at all but Thanks to God.
Here is a few tips that can help us.
1-Try midnight hours to verify account, if u have a link on ur email try the last link sent for most of us that had multiple links
2- even when it keeps messing up keep trying, I never got a confirmation that I am verified until 5am today I tried again and I saw one time notification above that this user has been verified.
3. Log in and and always try to attempt log in u never can tell if uve been verified.
4.start application
5.chat ur self up o. Wattsapp, keep a detailed info about ur business so u can easily copy and paste.
6. Write down in a book ur average monthly expenses, average monthly profit, profit in a year, monthly expenses. So u can reach out and type it in once u see the dashboard.
7. Even when that loading button is delaying u tap reload or send again.
Good luck to us
in addition to these, after several attempts using chrome browser with no advancement, I used firefox this afternoon and despite the slow response obtained in using their site, I completed it and submitted. Goodluck to us all
Re: Nyif Loan Discussion Thread by Lotuswhite: 4:22pm On Feb 20
You guys are just the best.. one would've developed a migraine but for your collective guidances and wisdom.. I've been dreaming about the loan for days now

God bless y'all.. smiley

Although I'm still waiting to get my LG certificate and a hardcopy of my CAC undecided
Re: Nyif Loan Discussion Thread by extol1(m): 4:35pm On Feb 20
ejimbe92634:
Wasn't easy at all but Thanks to God.
Here is a few tips that can help us.
1-Try midnight hours to verify account, if u have a link on ur email try the last link sent for most of us that had multiple links
2- even when it keeps messing up keep trying, I never got a confirmation that I am verified until 5am today I tried again and I saw one time notification above that this user has been verified.
3. Log in and and always try to attempt log in u never can tell if uve been verified.
4.start application
5.chat ur self up o. Wattsapp, keep a detailed info about ur business so u can easily copy and paste.
6. Write down in a book ur average monthly expenses, average monthly profit, profit in a year, monthly expenses. So u can reach out and type it in once u see the dashboard.
7. Even when that loading button is delaying u tap reload or send again.
Good luck to us
please I want to know whether these processes are for those who registered last year or the new one, because I just registered newly this week and I am yet to receive any message.
thanks
Re: Nyif Loan Discussion Thread by xtain7: 5:27pm On Feb 20
Anonymousgister:
Just finished for wifey (unregistered business category).

I want to start mine (registered business) but I have just the CAC cert number. Don't know how to get the TIN. Any clues on how fast I could get it?

And by the way, I was able to apply for 500k for hers. I don't get where the talk of 300k max is coming from.

Chat me
Re: Nyif Loan Discussion Thread by Linzo(m): 5:29pm On Feb 20
Acidosis:




I don't know the nature of your business and whether your previous selections justify the amount you seek but use this as a guide (you might need someone else to confirm the figures cos I did this in a hurry). Also note that these figures are appropriate only for a long tenure (e.g. 2-3 years). If you're considering paying back in one year, your sales revenue and gross profit should be higher.


Monthly sales revenue for 12 months -- N1,500,000

Projected monthly sales revenue (the above divide by 12) -- N125,000

Projected monthly operating expense (at least 40% of the above) -- N50,000

Projected monthly gross profit (N125,000-50,000) = N75,000

Projected annual operating expense (N50,000 x 12 months) - N600,000

Projected gross profit (2021) (75,000 x 12 months) - N900,000


Projected gross profit (2022) (increase 2021's gross profit by 10-20%) - e.g. N1,080,000

Projected gross profit (2023) (increase 2022's gross profit by 20-30%) e.g. N1,296,000.



You calculation is very wrong, guys please ignore this calculation

Gross profit is a profit you got before substraction of expenses or anything else.

2 Likes

Re: Nyif Loan Discussion Thread by Richardlove(m): 5:32pm On Feb 20
I registered last year and up till now no email. I tried forgot password but nothing. What can I do to get prequalify. I tried re-registering but I see you have not being trained. Please any advise for me?
Re: Nyif Loan Discussion Thread by kenddys(m): 5:41pm On Feb 20
extol1:

please I want to know whether these processes are for those who registered last year or the new one, because I just registered newly this week and I am yet to receive any message.
thanks

This is for those you registered last year and have gotten an sms
Re: Nyif Loan Discussion Thread by kenddys(m): 5:42pm On Feb 20
Linzo:


You calculation is very wrong, guys please ignore this calculation

Gross profit is a profit you got before substraction of expenses or anything else.

Abeg help us with a correct calculation then

Please
Re: Nyif Loan Discussion Thread by kenddys(m): 5:42pm On Feb 20
Richardlove:
I registered last year and up till now no email. I tried forgot password but nothing. What can I do to get prequalify. I tried re-registering but I see you have not being trained. Please any advise for me?

Did you get any sms?

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