₦airaland Forum

Welcome back.....

COOPERATIVE SUPPORT
After the initial challenge I had on my job coupled with words of wisdom of the elders and the way the cooperative came to my rescue, I joined 3 cooperatives and 2 ESUSU outfit at the same time. Was actually contributing about 200k in all the 5 outfits. While the cooperatives are long term in nature the ESUSU is actually a 12 months thing. You save for 12.
Months and collect your total personal contribution plus interest in December. This gave me the opportunity to plan for the beginning of the year using my total saved contributions to pay school fees, house rent, and to pursue some new year projects. The ESUSU equally allows you to borrow money at an interest.

The cooperative is however more pronounced in terms of convenience, terms and coverage.
The cooperative is people coming together with just one goal in mind. Helping fellow member in the group. All for one, one for all. Making up for the lack of others. Others making up for the lack of one.

I greatly benefited from Cooperative in terms of support in many areas. Buying of vehicles, goods, part time business, and so on.

Even with all these I never actually value what I was doing then until I left the bank and because those cooperatives were the initiative of the bank once you are out of the employment of the bank automatically you are out of the cooperative and the ESUSU .


LIFE OUTSIDE THE COOPERATIVE

As a banker people used to meet me for loan and off course because you have to go in line with bank policy on credit many were not availed it could be due to low turnover, startup, no security/collateral, and so on. Even though there ideas are workable and good ideas. Though it's not the fault of the bank too. They just have to protect the stakeholders funds.
As a result of this many genuine dreams has been flushed than the drain.

After the banking experience I faced the real world. That was when I got to know that the world is more than wearing suits and ties and perfumes or even speaking grammer.
I saw the reason why while I was in the bank then many upon hearing that there loan was not approved some will faint, some will be begging , some will looked as if the end the world has come. Because I happened to be a business man at heart, I always felt there pain but there wasxnothingci could do about it. Afteralll if I need money I will just ran to my cooperative.

I saw the reason why many SMEs are not growing, the reason why many are into online biz that they are not even sure of. I actually joined one - Avenue to wealth moth because I wanted to but because of there other benefits apart from referrals. But this never give me the way of life I was use to.

I was use to having funds to do anything I want to do at call and at will. No delay. That was my life style.
Now get this am not saying am use to borrowing money. What am saying is that you having a plan , a desire and a goal and you been able to do it or meet without financial constraint is the best possibe life you can ever lived or imagine. I have tasted the two. So trust me I know what am talking about.

Just imagine me a former banker writing to banks and applications being turned down. Now my business is not even a startup, just want to up grade it now that am into if full time. No way.
The commercial banks are not helping matters.
The introduction of micro finance bank only added salt to an existing wounds. How? There operation is not the subject of this thread but if you go to a MFB, your chances of getting the loan is about 60% to 80%. Good you will say. But your interest charge to be paid on the loan may as well be equal to 90% to over 100% of your profit. The conclusion is you ended up working for them. Except those that are into supplies or importation or services but if you ad into small scale trading and provision run for your dear life.

I came up with all the govt banks and establishments like BOI, NERDUND etc. I read a thread on Nairaland where someone was say that pay N1,000 to get information of where you can obtain loan with easy or without collateral. Some who paid him later found out that the info was about NERFUND. Now how many have access loan from BOI. am not saying its not possible but from my experience getting loan from BOI is more than just writing application or having a business. It is about your packaging and what you are into. BOI and others only go for majorly manufacturing or production outfit that have direct impact on the economic. That means if you are into like one man business which is the most common or a distributor or services like barbing, dry leaning , you don't have a chance. They don't borrow you to buy land or build house.

So what happens to the guy who is looking for just 50,000 to start his recharge card business, what happens to someone looking for N1m to become a distributor some where, what happen to someone looking for bus to buy and pay in instalmental bases. What happens to that informal business or garri seller who business is thriving but doesn't have a package.
They are left in the cold.

And this exactly what gave birth to the revolutionized cooperative movement in Nigeria. Even though cooperative has been in existence.

And this what gave way to a dream in January 2011.

A dream that gave birth to a vision.

A vision now call MIMSHACK MULTIPURPOSE COOPERATIVE SOCIETY LTD in May 2012.



BUILDING UP A COOPERATIVE : HOW AND CHALLENGES

to be continued..........

@fish22.... Give me more pictures. You know how we dey do for Nairaland. Front, back , the 2 sides, engines, tyres, etc.
Just for people to make an informed decision.

Or you send to- akdam_multiwealth@yahoo.com

Thank you for the opportunity to hijack your thread. Its not every day that someone see this kind of rear opportunity. Or you may be ban. Have been ban so many times on this forum, only God and the Modsc knows why. Maybe my sin is that I actually don't know the laws governing Nairaland.
Any way that's by the way side.

@integrityfood..... I will keep on making reference to your opening views and comment.
Am very sure by the time Am through with my experiences many would have been informed, enlightened and ready to take action.

EXPERIENCES

After my NYSC in 2001 in Anambra State, I stated a little longer in the state trying to see if man can pinched its tent there. But alas to my greatest surprise nothing thrives in Anambra except informal business. I love doing business. I did it in school. I did it during the 1 month camping. When I was posted to Nnewi L.G, I continued. Was working in 4 different places then. The L.G, 2 secondary schools and a community bank. For a whole NYSC year. Why and how did I do it? For the sake of generating money.
So when I found out that there is no show for me in Anambra ( was actually looking for a white collar job) I carried my bags and baggages back to Lagos. that same day Osama was on the ploy bombing twin tower, I was bombing Onitsha - Lagos express road.

On getting back to my domain, to my very own people, I got a job.
I got a job in a very popular bank in 2003. I mean very good job. I spent 8 years there. 8 years of fulfillment?. So I thought. It was actually 8 years of fake life with no salvage value.

In march 2003, one fateful day i misplaced 250k during working hours. How it happened I didn't know. Am not in any way a Teller. I kept some money , 3m to precise, in proxy for someone. Only for me to go to the toilet and 250k has disappeared. Now it is a sin for money not to be complete in the bank. Its a gravier sin for the money not to be complete by close of business of that day. That is automatic sack letter.
The very first question my boss asked was that am I in any the COOPERATIVES. When I said no. He put he hand on his head and "so you have been eating all your salary and not preparing for the evil day, days like this. Its only the COOPERATIVE that can bail you out". Thank God for the life of one of the excos of one the cooperatives. He backed dated my membership for me to qualified for a loan to pay the debt. The loan was given to me for 18 months to repay back. Forget about what lead to the problem , that is a subject for another day. What matter is that a COOPERATIVE kept my job for me.
That very month I joined 3 COOPERATIVES AND 2 ESUSU outfits at the same time. Even though I never have issues for the next 7 years, the COOPERATIVE was always there for me in terms of support. Support for good things now.

Join me tomorrow as I will talking about COOPERATIVE SUPPORT.........

integrityfood: many young entrepreneurs with sound business ideas are hindered because of starting capital. Our economy is not designed to help start-ups in any field. The financial market is sceptical of lending to an individuals/start-ups basically for fear of losing their money. From personal experience, financial institutions including government funded institutions like the bank for Agriculture, bank of industry prefers to deal with a group of people like COOPERATIVE SOCIETIES, Established organisations (big companies, churches) and wealthy individuals.

In view of taking the advantage of the collective benefit in achieving one's goal, establishing or joining a cooperative society remains one better option to raise start up capital.

practically, I have approached more than 10 banks, few micro finance banks and private financial institutions for loan even with my land C of O yet was not worthy in their assessment for a start up loan but they all agree on one point: lending to a cooperative.

My submission here is not however to say that borrowing money is a better way than trusting God for financial solution but if its the last option, coming together under an umbrella of a cooperative can break that barrier against start ups.

There are farmers cooperative, traders cooperative, workers cooperative etc. joining one and regular payment of your dues may allow you borrow upto 2 to 3 times your savings with lower interest rate and good payback period without collateral.

Some State govt are interested in developing SMEs and are providing soft loan through cooperative societies to support various ideas especially in agric ventures.

To this end, those who are facing similar financial constrain may wish to consider this collective fund raising initiative. Though the process of registering and establishing good business relationship with financial institution and govt funding agencies may take a little time but one thing is sure, you will get fund to establish your business in so far as you are sincere, hard working and committed to your business.

10 people are enough to start cooperative society. Members do not have to be in similar line of business but better if all are in common trade. Age, location and your trade( legal business any-ways)are not important if you are interested.

Islam and Christianity forbid usury (lending with interest)This point is vital and am convinced its possible depending on what members agree to. lets start the process. drop your email and line of business, location and general views if you are interested

@integrityfood..... ... I thought about this 2 years ago. I called on many to form an association like this ( all for one, one for all) many didn't sign up. Thank God for those that believe in my dream then and joined me as collective poineeering members. Last year the cooperative was registered after over a year processing modalities. After spending about 300k.

Mimshack multipurpose cooperative society limited. You can hook up with us has foundation member's . This is the beginning of good thing to come. Those that didn't believed then. They saw the reality. You that is just hearing about don't be left out.

Further info could be directed to me by submitting your email on this thread or maybe we open a fresh thread so not so as not distort the opinion being raised by @Integrityfoods

Thank you.

djeezy: I don't even know them. Too busy to desire further acquaintance.

Doesnt want to be bothered.

jbrodaly: What's your mail address?

How much last?

Akdam_multiwealth@yahoo.com

Car in good condition but no pictures!

HILCROWN: call me on 08036198454, 08053173529
BBpin: 2560A91B
seyimarketer@yahoo.com

LOCATION: LAGOS.

All other things being okay, this car is already registered.
350k

Akdams: Are you into foodstuff production, processing, manufacturing or distribution.
All variety of foodstuff are welcome. Such as white garri, yellow garri, rice, ofada rice, red beans(drum), yam tubers, yam flour (elubo), plantain flour, semovita, plantain, fresh egg, red oil, veg oil, frozen fish,chicken and turkey, crayfish, prawns etc
The list is endless. Am doing a price survey. the one that can match quality with best price wins the supply order.
Mind you am equally conducting one in the open market.

How much can you supply?

Your info should be in this format:
Let take beans for example-
Red bean :
How much per bag?
The KG/ bag.
Min you can supply-
Max you can supply-
Duration of notice to meet order-
Any other information-

Prices welcome from direct suppliers only or indirect that can match price with the direct.
Whatever food stuff you are into let me have the price on this thread.

So let the price war begin

Any other info includes your location, telephone and email

Thank you.

Are you into foodstuff production, processing, manufacturing or distribution.
All variety of foodstuff are welcome. Such as white garri, yellow garri, rice, ofada rice, red beans(drum), yam tubers, yam flour (elubo), plantain flour, semovita, plantain, fresh egg, red oil, veg oil, frozen fish,chicken and turkey, crayfish, prawns etc
The list is endless. Am doing a price survey. the one that can match quality with best price wins the supply order.
Mind you am equally conducting one in the open market.

How much can you supply?

Your info should be in this format:
Let take beans for example-
Red bean :
How much per bag?
The KG/ bag.
Min you can supply-
Max you can supply-
Duration of notice to meet order-
Any other information-

Prices welcome from direct suppliers only or indirect that can match price with the direct.
Whatever food stuff you are into let me have the price on this thread.

So let the price war begin

goke4all: We have been moving gradually and creating a niche for ourself, watch out as we plan a neighbourhood diary store for retail and wholesale shop for our egg.

Check your box.
From akdam_multiwealth@yahoo.com

Ijele-igbo:
Jay Jay is an unsung hero!

I agree with you 500%

ade4clement: lol.... ofcourse the car can get to Lagos....the last price is 450k sir

Oga talk very well o.
You may wish to reply to my email address and pls post the engine, back seat and inside boot pics too. Thank you.

akdam_multiwealth@yahoo.com

mallorca: If nobi Ronaldinho e No fit be Like Ronaldinho

Go and read the biography of Ronaldinho. He told us how everything he knows about footballing came as a result of 2 hrs daily training he received from Jay Jay when in the same club. which made him to be world footballer of the year. However he marveled and concluded as thus " I wondered why Jay Jay never won the African footballer of the year not to talk of the world"

Now the question is if you ask me why na who I go ask?

Maybe one day Isa Hayatol will tel us why.

ade4clement: 450k Last Price

Oga at the top 420k.
Serious buyer from Lagos.

Can it get to Lagos?

How much last?

No pictures.

Interior pictures pls.

What the engine condition?

How much last.

You can send to my box - akdam_multiwealth@yahoo.com

Serious enquirer.

ade4clement: available

Still available!!!??

It will continue to be available until you start replying mail.
Or maybe you don't think so.

ade4clement: Available

Let me have the last price on my mail and the VIN #
akdam_multiwealth@yahoo.com

A.N Agency:
Importation is the best bet for now. Interested? Contact me.

Am kind of been following your posts for a while. This is my email maybe we can get talking.

akdam_multiwealth@yahoo.com

deking: A Nigeria used Toyota sienna 98/99 model is available for quick sale (650k).

Pros.

1. Sound engine that has never been worked upon except for routine servicing.
2. First body in neat condition.
3. Clean interior with leather seats in top condition.
4. Alloy rims with good tires.
5. Power windows and doors

Cons.

1. A/c faulty and needs repairs.
2. Car has been resprayed once because owner wanted the current colour.
3. Front bumper needs re-painting.
4. Odometer is faulty (seems to be a common problem with this model of sienna)
5. Door handles require minor fixes.

For inspection call 07064455943.

Current pictures will be posted tomorrow.

With reference to your Cons and the fact that a sienna of the same model but sound has been offered for sale on this forum just last week for 500k. This shouldnt be more than 400k or less.

Personal opinion really. No offense meant.

Jay jay Okocha

Compulsory. Very very

nxanadu: i have some money, but i want to invest N1.5 to 2M. in the biz.

So many business's with money back guaranteed that you can do.
Drop your mail or you mail me on - akdam_multiwealth@yahoo.com
Have a good idea for you for free.

akdam_multiwealth@yahoo.com

Information dissemination = 0%

Johnsilver19: Sm1 dat av passion 4 business,sm1 who cn manage and make business grow very fast.

My brother you are not ready yet.
You are talking as if you are marketing guguru and epa.
No one would be interested in these your poor packaging.

However, as a business man and just out of curiosity let me know what ur project or idea is.
akdam_multiwealth@yahoo.com

mitnick: Which business can I invest 200,000 thousand and make a very good profit?

it depends on who you are and what you want.
But if there is one thing every body always want, it is profit.

Mail me on akdam_multiwealth@yahoo.com
I may have an idea or a proposal for you.

Fireballs: Dear Friends,

Do you have a retirement plan or adequate savings for the future. What about if you find yourself unable to do things you normally do without ever thinking of it - an accident or disability. It sounds inconceivable to us, but these are facts of life.

As a consumption society, we rarely have savings or investment in real asset. It is to this end, that we at Asset Edge have brought about this small opportunity for your to keep something away for the future by buying land at Ikorodu at very reasonable prices, so that you can re-sell when the time is ripe or even use your land for any venture of your choice.

Please pick your phone and call us immediately to commence the process of buying your land at Imota Ikorodu, Lagos at just N600k per acre. Payment can be made twice for easy acquisition at N300k over two months.

There are only 30 acres on offer, hence I can assure you this will not last beyond end of April. You can contact Wale on 08032813612 + 08100066671 or via email

We remain
Yours Faithfully,

For: Asset Edge Enterprise Services
#6 Ashabi Cole Street
Central Business District, Alausa
Ikeja - Lagos.

Give me the fuller details on - akdam_multiwealth@yahoo.com