₦airaland Forum

good news

Chizbaaa:
Guys am thinking of getting a loan for a business.
I want to start a business (mini business) but i don't have enough funds to start. Most banks won't agree for a loan because am not up to 20 and not a salary earner. Pls if you know any where or anybody can loan me 25k or less. I really want to start this business pls help me
E-mail: chigurl200@gmail.com

Did you say 25k or is that a typo? Pls tell me about this busines you plan to start up with that amount.

Do me l do you

This is the kind of news I want to read. Surely, theres still hope for Nigeria

awumen:
i told my younger brother same thing that rather than keep money in first bank without any benefit why not do GT or access bank, first bank na scam honestly

I closed both my current and savings account with the (FBN) cos I've never benefited anything apart from unnessassary deductions from them. The funny part is that you cant withdraw even 50naira for recharge card even when you have 1k in your balance.

ayusco85:
What if you are wrong oga? Should thunder fire you?

Even after providing evidence, they are still doubting. Ignorance is expensive.







For those trying to discourage people from bank loans, I bought my first two piece of lands along the Lekki-Epe Expressway through bank loan in 2012. The value of that land doubled before I finished paying the loan. If I had waited to gather the money on my own, I'm not sure I'd have been able to acquire that property at that time. Borrowing is one thing, investing wisely is another.[/quote]

Elzakzaky:
Lienus

Mr. Doubting Thomas

ruggedtimi:
hope you pay back soon..

Of course. I've never been a bad debtor all my life and wont start now.

fonzie2u:
Dont keep the money idle,remember repayment is principal plus interest accrued..its a carrot and stick approach

Interest rate may rise,also what is the amortization like..

That's why I'm not in a hurry to use it. For those trying to discourage people from bank loans, I bought my first two piece of lands along the Lekki-Epe Expressway through bank loan in 2012. The value of that land doubled before I finished paying the loan. If I had waited to gather the money on my own, I'm not sure I'd have been able to acquire that property at that time. Borrowing is one thing, investing wisely is another.

I kept receiving pop-up messages from GTB on my mobile app stating that I was qualified to apply for loan but I kept ignoring them cus I knew that getting a loan is not as easy as that. I knew what I went through on few occasions when I had to take loans as small as 300k to sort out some immediate financial needs. It got to a point when I began to expect the bank to request the death certificate of my great grand father before they approve a loan amount that is not even up to my monthly earnings. The most embarrassing moment was when two close friends refused to sign guarantor forms because they claimed it was against their principle. I had to swallow my pride and go to a junior who eventually stood in as my guarantor at the end.

Out of curiousity, I clicked "accept'' just to see if it was real. Next message I got was that "your application has been accepted". To cut the long story short, I received an alert of about 1m.150k just few hours later and this sounded incredible. A scanned copy of the repayment plan was later emailed to me and when I did the calculation, I found out that the total percentage of interest is about 12% as against 22 - 26% which I was forced to cough out in previous loans I took from different banks in the past. This to me was a good deal even though I don't have a specific plan for it. Had to push it to my son's account while I wrap my head around what best to do with the money.

This instant loan and the attractive interest rate kept me wondering on the following:

1. Does it mean the banks now have so much money in their coffers to lend out to customers even without asking?
2. What is the reason for the low interest rate which to me is still far lower than what is obtainable?

I called my account officer to ascertain if I can invest it in FG bond but I wasn't impressed with the interest rate so I'm going to keep it in the bank pending on when I decide on what to do with it. Any good idea is however welcomed.

Last price?

About 10 years ago while I was still in Port HARCOURT, I was shocked when I went to the Choba market to buy meat and I found my Youruba landlord doing same thing this youngman was doing. I was really humbled to realize that he built the house where l was living with the money he made from selling meats and we are here with our certificates chasing 60k monthly salary.

stacyadams:
buy and ship cars to naija

'Cars' biz with 5m? I don't think so.

Femoje:
I will suggest you diversify the funds into two different businesses
1. invest in farming Eg, plantain and banana farming are good business you get back your pay within 1 and half year.
2. get a shop at a good location and open a boutique while you wait for your farm to grow you still sell your stuff at the boutique.

Farming has been my passion but the problem is getting a sizable land around Lagos that would accommodate my budget except if I move outside my environment. Then, security could become the next issue cus I'm a very security conscious person. I've tried the boutique shop in the past but it didn't work.

dingbang:
A bar won't be a bad idea... Or a supermarket

I doubt if 5m would be enough to open a supermarket

Kingsolar:
Pls go into agricultural produce supplies, buy directly from farmers from interior villages and bring to cities or try to open a shop that sells food items, bro, that's the line of business that I can asur u DAT u will never lose. To be sincere I knew of some one that used 26k to run a farm produce, stored it for just six months and his gain was 300k. Am not lying so just imagine using jus 500k for same business, ow much do u think u cud gain. Use ur brain bro. My little advise

Good idea. Just that the security situation in the hinterlands are not really encouraging.

zamirikpo:
My brother I am currently grappling with this same issue , I have had sleepless nights thinking and planning. So I feel ur pain, with 5m u can become very rich or u can loose it all,it all depends on the choices u make. So I would advice as follows
1. If 5m is all the money u have, I suggest u divide it into two,save half and invest the other half
2.don't venture into any business u would not manage by urself....when I mean by urself,I mean u must be there 100% of the time.
3.u must take time to learn the ropes of whatever business u intend to embark upon.

May God guide u because i know how challenging it is, especially when u have not done business before.

Very useful advise. Thanks a bunch.
I'm also considering using my spare time to learn a particular trade so that once I'm able to grasp the nitty gritty of it, I'll kickstart the biz. That seem to be a more realistic plan for now but I'm open to more suggestions and advise.

slice100:
nice idea but talking of cash go into forex and binary trading learn it grow your skill master it and earn like a boss all from the house or you could look for a trading site where they trade for u its a real stuff google about it and note scammers are out there be careful.
my advice is to face online money it last and has low risk if you know what you are doing.

or better still invest in upcoming cryptocurrency and let it grow and mind me its a long term investment

A good friend actually mentioned cryptocurrency to me (one coin) but I wasn't impressed at what I found when I did some research on it. He's presently making money in it but I don't for how long it would last before the burble bursts.

Hi guys,
I'm seriously considering leaving my job cus its very tasking and also drains my energies, giving me no extra time to do something on my own. Besides, I've worked in this multinational firm for 12 years as a contract employee and there seem to be no future there for these categories of workforce. I have a tourist visa to US and Canada, ....have thought about relocating but that doesn't sound like a good option considering that I have four kids and a wife to look after, so what kind of biz can you guys suggest for me to do with about 4-5m? I don't plan to stay in this job up to six months. Would have loved to leave immediately if I have a better alternative. I live and work in Lagos Island.

Your candid response would be appreciated.

Hi guys,
I'm seriously considering leaving my job cus its very tasking and also drains my energies, giving me no extra time to do something on my own. Besides, I've worked in this multinational firm for 12 years as a contract employee and there seem to be no future there for these categories of workforce. I have a tourist visa to US and Canada, ....have thought about relocating but that doesn't sound like a good option considering that I have four kids and a wife to look after, so what kind of biz can you guys suggest for me to do with about 4-5m? I don't plan to stay in this job up to six months. Would have loved to leave immediately if I have a better alternative. I live and work in Lagos Island.

Your candid response would be appreciated.

I called you without any response. Also sent you SMS.

I called you without any response. Also sent you SMS.

Is the car still available?

Been calling u without response. Also sent a message.

Hi Fabulous,
I'm just looking at your post with my sis and I think she likes the car. She's interested but her budget is 2.8m. However, she wants to know why the owner is selling and if there is any issue with the car.

Looks clean....nawa gaskiya?

A friend is just looking at this with me now. He has 320k cash and will pay today if you agree on his price. Can it fly?

Is the skoda still available?

I didnot hear from you again. I even sent txt msg but didnot receive your reply. Is the vehicle still available>

So how much is your last price?

Can it go for 820?

I sent my mechanic earlier for inspection. Pls consider my 940k offer before I use it for something else.

How can u call this a 99 model? Pls corret ur post and stop deceiving people.

The ride looks clean. How much is the last price?