I suppose that if you are reading this, it is either you are looking for a startup business loan or you are wondering what the basic requirements for a startup business loan may be.

Before I proceed with this list, the first step however is to incorporate or register your business enterprise with the Corporate Affairs Commission (C.A.C).

The incorporation or registration of your business, including these 16 requirements; will go a long way in helping you know if you have got what it takes to get a loan from the bank.So without wasting any more time, let me proceed immediately with listing the 16 Basic Requirements that will enable you get loans easily from banks.

16 Basic Requirements for Seeking Loans from Banks:

1. Your Business Plan

2. Formal Letter of Application

3. Photocopy of Certificate of incorporation (2 Copies)

4. Photocopies of the Certified True Copy of Memorandum of Associations (2 Copies), Form CO2 now C.A.C 2.5 (Allotment of Shares) and Form CO7 C.A.C 2.3 (Particulars of Directors)

5. A photocopy of the filed Annual Returns (up to date) of the company at CAC....


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