cheikh: Lexusgs430


@ ^^ You may be right about the above but keep in mind that Money lending is as old as human-kind How do they manage in other Countries in Africa including(Nigeria) and elsewhere? Please do your research about our business/market place. Ask our Mamas and other business persons especially in the North, South-West, South-East and Delta areas as someone already pointed out. To succeed in Nigeria, you'll need to think differently, be very creative, intuitively gifted or have loads of "emotional intelligence" or empathy. Know your backyard very well(research)/local knowledge is the key. The so called global banks or big money lenders did not exactly start their business enterprise in a perfect atmosphere like you enumerated above. History of companies in those so called perfect business environments does not wholly bear/confirm your logic. Africa and the rest of the so called developing world need a different "Mind-set" and attitude and are definitely doing so in most successful places like the Gambia, Bangladesh, China, Phillipines, Mali, Burkina Faso and Ghana.Money lending and Micro-lending is booming and successful those countries. Maybe Nigeria is not happening because of our special peculiarities of "Get rich" quick mentality and attitude of our lazy, uncreative and un-responsive institutions(banks)/legal system.

Money lending intelligence etc.
Go and try so you truly understand what we are saying.
One nigger can stand firm in a day and scam you of all your savings, capital, profit and all!

Lexusgs430

One nigger can stand firm in a day and scam you of all your savings, capital, profit and all!

@^^ Hence I wrote-

Nigeria is not happening because of [b]our special peculiarities [/b]of "Get rich" quick mentality and attitude of our lazy, uncreative and un-responsive institutions(banks)/legal system.

I currently run one, though on a small scale and based on reliable referrals. Even at that the default rate is high but at the end of the day we still make some profit. We can share experiences when you start. All the best.

I very much agree with your point of view.[img]http://www.50centloseweight.com[/img]BUMP

Usury, its enter the bank appeared to collapse

Thank you all for your great contribution. Problem discussed is half solved. Yes it is. Your comments and suggestion has help me to streamline issues. We are now battling with, where to site our office, we are looking at siting the office in any of these Lagos markets, but for the fact that, our target customers are not only the traders, our prospective customer should include other small business people and even those in pay jobs.
So my people your advice is needed as well. God bless you as you do.

I think if you have much money in you pocket, start a micro-finance bank. It will give you stability.

Thank you all for your contributions

Can any lawyer in the house get us money lending pernit in Lagos state please mail lanrefabiyi@gmail.com.

good information,tanx

Can Anybody help with loan acquisition for an already mapped out project

I think you will need the advice of a professional investment banker and legal advices.

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Thank you all, good to tell you we are in preparatory stage. come along with us share your experience with us. We are determined to succede, to deliver. Thank you again my email still open for vital information.

I'm sure you understand the benefits of registering your business and company among which are the following:
1. It confers on your company a legal personality status, such that you can sue, or
be sued.
2. It also prepares you for professional business lifestyle and,
3. It builds clientele trust.

I can register your business name or company for you and subsequently file your annual returns and other post incorporation legal services at an affordable price.

Please contact me via this medium.

warm regards.

Deolumike

See a planning guide: https://www.practicalbusinessideas.com/money-lending-business-plan/

Did u start as Ngo as you are advised? if yes, I want to hear from you as i want to start similar business now i agriculture. My organization has access to $8Billion now but want to assist farmers and agri-business traders only. We have formed groups in each Local Govt. of Nigeria. How far lanredo1?

Desanta:
I currently run one, though on a small scale and based on reliable referrals. Even at that the default rate is high but at the end of the day we still make some profit. We can share experiences when you start. All the best.

BRO I AM ABOUT TO START UP THIS SAME BIZ .PLS UR EXPERIENCE IS HIGHLY NEEDED ..HELP A BROTHER .. WHATSAPP NUMBER 07035793829. THANK YOU

8uhgf

Go to your state courthouse, fill in the application form and pay the fees. They will provide you with the necessary information you need to become a regulated money lender

Desanta:
I currently run one, though on a small scale and based on reliable referrals. Even at that the default rate is high but at the end of the day we still make some profit. We can share experiences when you start. All the best.

please at what interest rate do you run?

bharkarh:
please at what interest rate do you run?

Hello bro,u ain't replying my mail

Funkybabee:



Hello bro,u ain't replying my mail

please I didn't get your mail.

Bharkarh@gmail.com

Desanta:
I currently run one, though on a small scale and based on reliable referrals. Even at that the default rate is high but at the end of the day we still make some profit. We can share experiences when you start. All the best.

Are you still into money lending. I want to launch mine

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you are truly a credit person and a smart one

peaceland:
Hi,
I think what you would have done is request for information from those in the financial services industry and this you can do by actually going to a couple of finance houses in Lagos and being friendly.
a lot of people here would scare you away but its quite a lucrative and good business; I'm working in one so should know.
the challenges are there but you always work the risk premium into your rates and now is the best time to start in Nigeria; money is scarce out there; business a bit dull but you'll be amazed at the number of small businesses who needs funds and unable to get due to our self imposed financial crisis and the resultant risk averse attitude of the few that still have money
based on the little i know there are 2 ways you can go about it.
registering a company for investment is 1 but that could cost you some good money being tied down
registering a general purpose company is 2nd but then you run the risk of breaking a couple of laws
so the first option seems best but as at the last time i asked you'll need about 20m for that.
sounds big to me then but since i don't know your pocket........
in operating the basic thing is your documentation which has to be tight and properly worded.
our legal system is such that favours the customer so get your clients to sign all required documents
try and lean towards loans that can bring in weekly or bi-weekly inflows and not much of lpos/contracts as they could tie down your funds and delay your expansion.
in Nigeria; emphasis should be on business experience and ability to generate steady cashflow
try and visit ofid dept in cbn for more details but be careful as that would put you on the radar so if you have started the improper way
initial capital mandatory expenses is a critical factor to watch out for as it could make or break you.
just think of it as a poultry business; requires attention to details; not fanciful things and sincerity
enjoy urself; am a credit person
thank you

I know that it's getting quite popular, and I can tell you that it's not a problem to launch a lending business nowadays. I'd been thinking about doing that myself, and I can tell you that after I discovered neo-fin.com, I understood that it wasn't that complicated, so now I'm planning to contact these specialists and develop an online credit platform.

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