₦airaland Forum

Smartcitizen:
Hahaha hahaha!

You are only being sentimental, you are counting on the north to help you win their brother Atiku in this face of serious hardship in the north?

🤣🤣🤣🤣🤣🤣🤣🤣 mouth piece of the north, welcome.

I wish Tinubu's policies were working but you see this hypocrisy, you are going to compete with the north to prove who plays it better in 2027 and that's why many of us begged Peter Obi not to contest for the presidency.


🤣🤣🤣🤣🤣🤣

ublight:
U don't understand English.

I can tell that u won't do well in the business already

ublight:
Don't borrow for laundry in a new location.

Borrow the money for something more lucrative.

Don't be in a hurry to pay back in 12 months.

Plan to pay back in 3 years.

Make up ur mind to default on the loan and u will have peace

samwash:
That is where pple are getting it wrong, if you are telling me that they wouldn't give him up to 500k at first Chance,I might reason with you, if he already has an existing business that is worth double of 500k in stock and have a very good cash flow, they will consider him. It is not necessary that he has to build credit finance with them for six months.
He can apply today, if he meet their requirements, they fund him tomorrow.
He just have to start from somewhere.

Dnockeror333:
Wh eh eh eh eh... You have a loom mate? Ya say?

Do not allow ya loom mate who is so dear to you to become a debil who will make you lipe become yeye!

To be warned is to be told. You are preparing hot water that will pour on ya body.

You even cohabitate with a special person? Wonderpul thing!

Stay away from your urge for such exurbitant loan! Your loom mate will bring you down!

skultrick:
It is obvious God led me to see this thread. I don't even come to this category but somehow I just clicked on the business category.

I am in the best position to give you the advice you need. And to make it very short "DONT TAKE THAT LOAN"

If you take this loan you will be poorer unless a miracle happens. I have receipts.

Let me explain, if you take this 500k, it will pay rent plus maybe a small change remaining. Now this money won't even stay in your hand and you will start paying next month.

Why they are called loan sharks is because of the short duration and high interest.

Now let me give you my own experience. I am a blogger and youtuber. So last year Google did the unthinkable and deranked my 6yrs old blog which accounted for 70% of my income.

Now I was left with my youtube channel. I believed buying new gadgets will increase views on the channel. So I took a 1m loan from Fairmoney to pay 1.3m in 3 months.

I had some success on my plan but I was paying 400k which was more than my monthly earnings then.

Do you know what happened? When my income drops, I pay this loan and I am left with nothing to survive the month.

What did you think happened?

I had to collect another loan to eat and pay bills.

Those ones also want their money by month end. I worked so hard but income didn't increase. Before I know it I was owing about 5 loan apps.

To cut the story short, I sold my assets to offload this loans because I had no peace and couldn't live well.

The bottom line, I ended up paying 2.2m interest within 12 months.

If I didn't take that loan, I would have been 2.2m richer.

That loan is designed to kill you. Nothing more Nothing less.

What I will advice, it is better to sell an asset (if you have one) then use the money to support your business.

If you are banking on getting a shop in a better location, you may or may not succeed as you expect. And you will have loan people to worry about.

LoanShark:
If you do take the loan you have to make sure you are extremely disciplined and frugal with the money.

The reason why most people find it difficult to repay such loan is because when they get the money the first thing they do is to start flexing or doing giveaways - that is not the purpose for the loan.

You have to look at a loan as a seed which you need to plant and nurture so as to enjoy the yields in future after repaying the loan with part of the early yields.

After receiving the loan you should open a new bank account then after 3 months you pretend you have started repaying the loan by transferring the sum of 120K to this new bank account.

Do not wait until the end of the tenor of the loan before you start running around to put the money together!

lordm:
your family members na

Truvelisback:
If i were you, i would continue using my one bedroom apartment for now while i get generator. The burden would be much for you. You are paying for your apartment, and you want to add shop and gen to your bills. Think am.

Nnaemiemax:
The interest rate is too high and could strain your finances if you don’t have consistent monthly cash flow to service the loan.

Consider negotiating a 6-month repayment plan for a smaller loan amount to ease the payment burden and reduce the risk of a cash crunch. Alternatively, take a lower loan say ₦300k, and cover the remaining 200k through personal equity.



Ok, that a good idear, just that 300k will not be announce,, same % interes will still be involvedt

Buziness101:
500k may seem big to you now...
.but immediately you take the loan you will then know that 1,050,000 is bigger.

Unless you have a backup plan

lordm:
Borrow from family members

Dafungames:
I won't advice anyone to take money from loan apps honestly. The moment you default. They will disgrace you badly. I haven't experienced it first hand because I have never borrowed but this has happened to a relative who got disgraced badly.

We got calls from them threatening to deal with her I believe after her picture was sent to most of her contacts.

If you have someone else that would give you the money that would be more patient with you even if you default it will be better than to get it from loan apps.

It's even bad getting this loans because it just makes you not to concentrate, it disturbs your peace and most times make many business remain stagnant.

You needed advice–I've given you my advice. But I believe before you came here your mind was already made up. The decision is up to you to make.

samwash:
The internet is too much,you are paying back double of the initial principal of the loan.
Why not go for MFB loan, those ones are cheaper compare to this one.

Sharpsharp00123:
lol

Wike have shown to b a talk n do person, he has been tested n trusted so SIM can't b placed above him

SIM joining APC is conditional n to safe his career but wike in PDP is there to finish them off n the best way to finish PDP is from within cos an enemy within is dangerous than that outside

I can tell u wike has many spies in pdp

gunners160:
t wetin u don do for any body? he has a loud mouth but he has a gud heart. Wetin u don contribute to anybody

Ademoore07:
I so much love the city. My first visit to warri was in october 2018 for a contract job at refinery-ughonton road. I never knew that city had been producing all incubent governors since 1999.

Totobulie:
I am not scared of the hausa fulani or saying this to make friends with anyone, I just want to say my observation.

A lot of yorubas come to nairaland, pretending to be Igbos, and say negative things about fulani and hausa people just to cause deep enmity between the Igbos and the north. The Igbos travel a lot so are more at peace with people.

Ningen:
Double meat??

That antelope is not safe for consumption Bro. It has already started under-going digestion. If you eat it; you can eat a snake regurgitated vermin.