₦airaland Forum

We are back for business again, roll in calls let see how we can work together.

Youngzubi:
A mini bus driver nearly lost his life today at the Abule-Egba Head bridge

It all happened when a Mark failed brake and the driver lost control of the heavy duty truck causing it to collide with a mini van which sped into another truck moving at a slow pace due to traffic jam.

The mini van got stuck in between the two trucks, the scene was an eye sore as the mini van was squeezed together with the driver, passerby already concluded that the mini van driver was dead due to the condition of the bus, although, the two trucks were left in their good conditions leaving only the mini van crushed into pieces of metals.

People around that area including Passerby rushed to the aid of the van driver, the struggle to bring the driver out wasn't an easy one despite the number of able bodied men that came out to help, honestly it was moment of suspense as everyone wasn't sure of what to expect, some believed he was dead while some argued that the driver will survive it but the later was the case, the driver was brought out alive but was left in a very bad state, one of his leg was broken the other swollen.

see pictures below

You meant Lagos - Abeokuta expressway

mohsaaf:
Wetin we don hear ? Is it the cancelation of the recruitment? Anyway,we don prepare our mind for that . no be today e de happened for this country. Las las we go dey olryt .

you have a bad mind, cancellation ko cancellation ni

What's up guys, una done hear

I use this medium to thank God for special grace giving to me and not forgetting readers too for the accolades received for creating this thread.
I was just doing what i do for a living.
Am honoured. Thank you all.

A friend of mine said, if you fail to take unusual risks, you end up becoming an ordinary.

So taking the unusual risk makes one extraordinary.

jayaim:
I already have 2 civil servants grade level 12 & above as external guarantors, good to go right?

U need to register your business if you have not, then make sure u register enterprise. also u will need ur personal bank account statement. I will chat u later and send the requirements checklist to you

Avidcolz:
Can they accept company warehouse (as in propose factory) as a collateral?
Again, are you in Abuja?

it depends on the market value of the warehouse which largely depends on the location. I'm in Lagos but distance isn't a barrier.

jayaim:
Noted

Just work on those things as discussed. God bless

jayaim:
Ur line is always switched off, i have tried reach u , this is the 3rd time. Pls drop ur other contact that is always available

you should have come back here and say you have been able to reach me. We are in a Country where many things could cause your inability to reach me. I need to say this here, the call I received from here is enough to kill battery.

jayaim:
Bro i will hala u soon. I want to go for the loan under 10m

No problem bro, I will be waiting for your call.

Pharmaceutical Companies are the Bank's priority now, if you know any pharmaceutical companies that need financial support, pls connect us together, let us help them push through BOI. It's sure it will end in success.

Doing the right thing with determination and perseverance success is certain.

Pls if the loan is for buying and selling BOI is not the right bank for such because they don't do such. Commercial and Micro finance banks will help.

If you know any Pharmaceutical Companies that need financial support, kindly refer them to us for assistance.

We are channelling our efforts through them now in Compliance with the FG directives.

Meanwhile others who are not Pharmaceutical Companies too can contact us for assistance.

Thanks

Employ a qualified accountant even if its just OND holder to handle your business transaction documents for you. This will help you to have proper accounting records.

jayaim:
That means they don't fund many business Cuz many are left out & they claim they want to build a strong economy through diversification

Bro don't get me wrong, they fund pharmaceutical companies but Nafdac approval is a must likewise other food related products.

What am saying about restaurants is that it collapses easily. Let me ask you these questions:

Can you tell me what happened to Mr.Biggs
and other big restaurants that sprang up in Nigeria sometimes back?

If you know the answer, you will know the reason why they don't want to support restaurants again.

HBV is a silent killer, it replicates easily and kills slowly. Many might not know they have the virus because it operates silently unlike other viruses. But once it begins to show symptoms the liver is in for it. Will you now wait till your liver is damaged before you will commence treatment? am sure the answer is NO.

Our herbs is relatively cheap compare to others but its efficacy can not be matched by any other herbs that treat the Virus.

Why not contact us today and get this menace removed from your system within a month or two.

realpoacher:
Guy you are really good at what you do and u're also very informed

Thanks boss

jayaim:
Mr James i watched boi's programme on tele yesterday, they are doing a lot. But they don't give restaurant or eatery?

They do before, but now they have stopped.
There are lot of risks attached to the business.

Any business (es) related to food & drugs are sensitive.

Any slight mistake can lead to closure of the business which will affect loan repayment plan.

That's why they don't give loan to restaurants.

Please note, Boi doesn't give loan for trading, it has to be manufacturing or any business that involves value addition in the process of getting the final products. Check page 1and 2 for businesses they can support.


Pls if the loan is for buying and selling BOI is not the right bank for such because they don't do such. Commercial and Micro finance banks will help.

jayaim:
If i get them requirements complete, how long will it take to get the loan?

If everything is OK, I mean if your provide all the required docs on time, it will be between 2-3 months.

jayaim:
Below 10m. It was 5m

No Fed govt. agency can guarantee loan, what you need is two individuals from the categories as explained above to guarantee you.

if you find those individuals, u will get the loan

udilson:
Please what is the requirement for acquiring a loan for a tech startup collateral free

Check their site

@jayaim am still expecting your response to the question I asked you

jayaim:
Mr James, even though we are namesake u are falling hand. I told u we used a reputation government agency as they stood for us as collateral. U are still arguing with me. Nobody knows it @ll. Are u in Abuja? Let me take u there. The agency is strictly for business & entrepreneurship training. I still insist they used politics to kill it.

Bro. I don't understand you. I pasted above the categories of people who can guarantee loan below N10m. Which categories does this govt. agency fall? You can't use an agency to guarantee loan with BOI, you can only use individuals that meet the requirements stated above.

tayodele1:
Once again thanks for your response.
Gocoa, palm tree and cassava plantation

That kind of farming doesn't fall within the scope of the Bank unless you want to be processing Cocoa into powder, palm fruit into red oil and cassava into gari and you need equipment. BOI can come in that aspect.

tayodele1:
Thanks for the write up, it is informative well educative. My question is
1.what are the requirement to get loan for someone who who just start a farming business
Thanks

What type of farming

i emphasized more on loan below N10m in my write up. I will like to talk about the collateral security arrangement available for loan above N10m.

For loan above N10m, there are two security arrangement options

i. Legal Mortgage
ii. Bank Guarantee

I. This option (Legal mortgage) involves the use of landed property by the applicants to secure the loan. In this case, the force sales value of the property must be at least 2.5 times the value of the loan amount.

I.e if you want 20m as a loan the force sales value of the property must be at least 45m and the property must have CofO.

if this option seems difficult, there is another option which is

ii. Bank Guarantee

This simply means a commercial bank will guarantee your loan to Bank of Industry.

Though property will still be required but the 2.5 condition won't be there necessary. The FAC for Commercial Bank might be 1.5m or the same amount of the loan.


Both options are good but using BG makes the processes faster and easier as there won't be legal perfection of the property's documents by BOI which usually delay the process. Perfection of documents will be done by the commercial bank who is guarantee the loan.

Using BG is also cheaper, customer won't pay legal fee which might be expensive depending on the state where the property is located.

For more enquiry get my contact from the first page

Giantfarmer:
I heard that BOI don't give cash that they will pay your creditors directly but how will one cope if you need running capital for your business

Yes, BOI don't give cash to customers to avoid diversion. They disburse the loan to the supplier of the equipment the customer wants to buy.

They give working capital too but only for raw materials.

For both equipment financing and raw material procurement customer must provide pro forma invoice from supplier whom account will be credited when the loan is disbursed.

[quote author=Giantfarmer post=89393997][/quote]No problem, go back to the first page if you have not, then read all have written and follow them.

you can then keep my contact and be getting in touch with me.

The feedback I got from people who read my write up here is overwhelming.

I quickly want to shed more light on an issue raised by people that got back to me.

They said when they approach BOI for financial support, their staff will just hand over to them(customer) documents with little or no explanation.

Here is the issue, those relationship officers are always busy, they have many applications they are attending to, hence the need for a consultant who will take his time to break down each of the requirements and simplify their conditions for customers to understand.

A man said when he visited, they gave him too many documents, he immediately concluded that this is impossible to achieve. Just ordinary documents oooh.

Many Nigerians are not that patient to go through rigorous documentations while not give your self a rest of mind and let your consultant who understands their language handle it with them?

All you need to do is to provide the necessary information and documents for the consultant to work with and in the case of you unable to get some documents, i will even help or possibly follow you to where you can get those things out. Those are the things you paid for.

Talk to me, I won't charge you for consulting me, i will only charge when its sure you will get the money I.e when you have met all the requirements. My service fee is modest, in fact, some people paid more than what i charged them out of excitement.

Boi is the best if you want to grow