₦airaland Forum

lordm:
Borrow from family members

How many of your family members in Nigeria have you ever lent 500K and they paid you back?

binary123:
Thanks you all.As it stands now, my business is not growing because of the remote street were my house is located
The money I'm making is only for feeding because of low patronage, how long should I continue like this that is the reason I am considering taking the loan which is the only alternative
I'm good at the business that why I need to get a shop at a densely populated area, my thinking about the interest alone scary, but I don't have an alternative,I may risks it

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!

binary123:
I am into laundry /dry-cleaning business,and I'm operating from my one bedroom apartment,
I have been trying to save money to rent a shop and also to buy a generator.but it has not being easy
Most times I do borrow money from loan app and I have mentain a good record, my loan limit has increased to N500,000 the interest is N550,000,
Total repayment of N1,050,00 (one million fifty thousand) to be paid in instorment of one year I'm seriously considering taking the loan
.pls I need your advice is this a fair deal, I really need the money.

There is nothing wrong with taking the loan if you are confident that your business can generate the profit to repay the loan.

The fact is that you are not providing any collateral for this loan therefore the interest will be high because it is considered a high risk loan by the company providing the funds

Bini90:
I need anyone that can borrow me loan up to 600k urgently I can pay back 800k within 3 to 4 months we can sign with lawyer guarantor etc.

When asking for such loan always state the collateral you have and the value.

No sensible lender who has never done business with you before will give you a loan of 600K in exchange for only a useless lawyer agreement that even you yourself know you will not honour

samwash:
Why some of una dey always come online to solicit for loan from faceless people, when you can access the loan through miro- credit scheme or microfinance bank, which there interest are affordable.

No sensible microfinance bank or commercial bank will give a loan to a person unless he has operated an account with them for at least 6 months

anzion:
My place of work refused to give me consent letter to access a loan in UBA. What do I do? UBA said “Introduction/consent letter is a must” but my place of work says they can’t give.

They probably want to avoid liability in the event that you default on the loan.

The only way you can circumvent having to present a letter of consent from your employer is if you offer the bank a good collateral

geelite:
I go pay. Just that im currentlydown and the only way to settlethe problem is to take loan since nobody wants to help

Are you sure?

bestfriday:
Help every one.
Pls I need your advice on how I can recover my 23k from PALMCREDIT loan App. I am so sad that PALMCREDIT LOAN APP DEBITED MY OPAY ACCOUNT VIA MY VIRTUAL
CARD UNLAWFULLY.

Last week because my bank was having issue , I decided to borrow money from PALMCREDIT and was to pay 35k in a months time. I paid this money before the due date and it was successful and is even showing in the loan history that I have completed my payment 1 wks ago.

I was so surprise this afternoon to see my OPAY account be debited of 23k via my virtual card to PALMCREDIT when I am not owing them. This is illegal and pure criminality , I can not reach them now as their working hour is done for today and they do not work on Saturday and sunday.

I regretted allowing them into my privacy , just cause this mess upon myself, I have deactivated their access into my OPAY account.

PLS HOW DO I GO ABOUT GETTING MY MONEY , IF POSSIBLE SUE THEM AS THIS IS PURE CRIMINALITY. I HAVE ALL THE EVIDENCE

Please contact our office on Monday with evidence of the payment you made

dawnomike:
Wait till monday... In the mean time, if you like wahala for justice like VDM, get your lawyer ready for a long battle that you'll surely win at the end.

He should get lawyers involved because of just 23K?

Mark009:
Hello. Still looking for a loan of 60M. Our deadline is now tomorrow, May 1st. We're offering 65% interest, and any assurances or security the lender may require. Thanks.

You need to also state the collateral you have otherwise you're just wasting your time

Newgoodkk:
There is Case of PND on an Account Placed by a Bank . The Account Was Placed on PND 2 Years ago . It was Found out that the Bank Has Moved the Said Funds From the Customers Account to a Different Account and the bank have been using the fund for Business .

Now When the Matter was Taken up , There is a demand that the " Evidence of when the Alerts of the Funds Hit The account should be Provided "

My question now is that this Happens two Years ago , The Account owner already Lost the sim Attached to the Account.

His Account is Locked , PND/ Restrictions is Placed on it already , He can't Withdraw neither can he Transfer .

Someone Mention that He Can go and Retrieve the sim ,Download The bank Apps and Access his Account online to get His Transactions History since Last two years and trace the Alert when the Funds Hit His Account.

This is the Demands of The Bank .

The Bank Already aware that the Said Funds was in his Account before at first before they Moved it .

A Lawyer demands that he Gets the Alerts Evidence.

THE QUESTION NOW IS THAT IS IT POSSIBLE FOR SOMEONE WHOSE ACCOUNT IS ON PND/ RESTRICTIONS TO STILL BE ABLE TO ACCESS HIS ACCOUNT THROUGH BANK APPS ?

MUST HE VISIT THE CUSTOMERS CARE FIRST TO HAVE ONLINE PASSWORD AND USER ? TO HAVE ONLINE ACCESS

PLEASE HELP .

This long process is not necessary.

The account owner should just go to the bank and request a printout of his bank statement for the past 2 years, this will show all the transactions and the dates for the period

Ollyb2020:
I’m reaching out to ask if you’d be open to offering me a loan of up to N5,000,000, with a repayment plan spread over 12 months. I’m in the process of launching an executive car rental service, and I’m currently securing the remaining funds to fully kickstart operations. I’ve already committed some personal capital, but I’m seeking an additional N5,000,000 to bridge the gap and complete key areas of the setup, including upgrading a vehicle I already have.I’m confident in the viability of this venture and am prepared to offer collateral should that be required.
I truly believe in this project and the returns it can generate, and I would appreciate any support you can offer—whether it’s the full amount or a part of it.
Let me know if you’d like more details or if you’d prefer to meet and discuss everything in person.

The maximum amount of loan we can give is N1,000,000 but it must be fully secured with a collateral with 150% cover which will be placed in our custody with all the title documents and a written instruction to sell in the event of default.

networkguru:
What kind of collateral would you need for that amount? Sorry I am asking. I just want to know to check if it is something I have or willing to use as a collateral.

It has to be something moveable and its current market value must be at least 1.2million Naira.

Note that you will give us a written instruction to sell it if you default in making payment as agreed

networkguru:
Hello, I need an urgent loan of N800k with interest. My repayment plan is 12 months starting from the end of this month of April.
I would appreciate if anyone can get me this loan today. It could be from a financial institution or an individual.

What collateral do you have?

naijapikin2:
Oya loan sharks should attack this

WIKE-D MAN😁😁😁

There is no basis for attacking it because what he did with the loans is visible for everyone to see

ComeComing:
Good morning everyone in the house. There's this issue that has been giving me sleepless nights for so long.

I'm a young landlord but the only thing that's lacking in my compound is borehole water. After consulting with borehole people, I was made to understand that everything will cost around 400 to 500 thousand to dig borehole. (Sumo inclusive). I already have more than half of the money but I'll need almost 200k to make the borehole a reality.

The issue that brought me here is because I lost most of the rent I collected this January to a bad investment.. and I wanted to approach bank for a loan but some people advised me against it.

To cut the story short, I humbly seek to borrow 200 thousand naira this April to pay back 280 thousand in December or 35 thousand every month for 8 months (May to December)

I'll tender the documents of my house as collateral. It has;

- 2 bedroom flat (x1) (annual rent is 400k)

- 1 bedroom flat (×3) (annual rent is 200k)

- Lock up shops (×2) (annual rent is 100k)


The loan will run for a period of 8 months only (May to December). And after that all parties will go there way.

I don't know if my interest is too small or not, but after doing my calculations, I think this is the best offer I can come up with.. as that's what I can be able to be paying.

Assuming this your story is even true, why would you use a house as collateral for a loan of just 200K?

That is a serious mismatch

Go and ask each of your tenants to pay 50K as advance, some of them will agree especially since you plan to use the money to improve the quality of your building which will directly also benefit them

Jokerman:
The tag "Loan Shark" is really it

What did we do to you?

Prettychild:
Please nairaland members, I am seriously in need of a non interest loan of 500k to start my business, I would pay by November, I would appreciate anyone willing to help me with that. I don’t mind drawing up an agreement to pay on or before November, 2025. I am asking from individuals because loans from banks have high interest rates, I don’t want to have unnecessary debt that I can’t be able to pay. Thank you

Only a wealthy person who is related to you by blood can give you a non interst loan of 500k in this present economy

itsabdul:
Hi, Good day guys!
I don't know if this is the right category to drop this or not. In any case, Mod should please help me push this to the front page. I need solid solutions.

I'm a federal government staff. My salary is around 180k, but I'm servicing over 5 loans right now, and I end up with less than 10k in my account. While some are due to end in 2-3 months, others are up to a year or more.
I took these loans out of inexperience, and misused them in failed business endeavors. Now, I'm paying for it.
Is it possible to find a Company that can help consolidate these loans for me in a single loan with lower interest and extended deduction timeframe like 36 months. Company can directly pay up the companies I owe, without disbursing to my account. The amount to liquidate all these loans shouldn't be more than 1.6 mil. And I want a company that can give me the chance to liquidate my loan anytime.

Thank you.

You're not likely to find a loan company that will be ready to take the risk of giving you an unsecured loan of N1.6 million to pay off all your loans because your monthly salary is quite low

Classicals:
How much does stripe cost.

You sent an email.

How can I help you please?

olamoses75:
A sum of #300,000 is needed as loan, to be paid back in a month with interest. Willing to signed documents as it may be. Have few things as collateral.

My number is 07067004037

What collateral are you offering?

PARADIZEPRIEST:
yes I did and they trade with it and dont give reasonable interest am not surprised at silly questn,your pseudoname already defines you

Don't go and rent an apartment that you can easily afford, stay there and be waiting for GT Bank you come lending you money so you can rent an apartment that is clearly beyond your pay grade

PARADIZEPRIEST:
Give ppl house rent loan gt co,and stop biting around the bush

Did you give the bank any money to keep for you?

PP123:
You're a loan collector tho

Why defaming and blackmailing her

Instead of you to tell the debtor to pay back what she owes you're here talking rubbish!

YoungLionken:
Hello brother, happy new month..

Please I'm really interested in this loan business (not LAPO and its likes level). But I'm having a cold feet about it. Could you please highlight some of the risks, how to avoid them, etc. Thanks a lot...

Better not go into the business I'd you don't have strong mind!

If you loan money to 100 Nigerians; on due date only 20% will pay back while the rest will pretend to have forgotten or they will be waiting for you to come and remind them.

Eventually after reminding them half of them will pay back grudgingly while the other half will refuse to pay back and the only way you can recover that money is through fight and quarrel.

Someone who is owing your comoany money will have the money but will refuse to pay.

There are some people who take loans from loan apps with the belief that the company is sharing free money therefore the loan does not need to be repaid.

You can't avoid losses in this business, you can only minimize them by being brutal when trying to recovering loans from strong head borrowers.

blowjohn:
Loan shark spotted!

Your eyes are working well

Tim1212:
A Nigerian man took to social media, why he can’t give out 200k to his girlfriend.

He narrated he came from a poor background, and that he can hardly buy himself a shoe.



He confessed that he is stingy to himself and can’t afford basic stuff for himself.



Netizens quickly respond to him that got people talking same experience they had growing up.













Reactions are very massive as many began to tell there own story.

https://degoldenblog.com.ng/i-cant-press-200k-to-my-babe-nigerian-man-cries-out/

Come and take a loan from us

EXOUSIAng:
Some loan apps should never be paid...

Rubbish!