In2systemsTech:
Well... That's how the story goes... Out there you can even get a loan to study... Apart from the grants and scholarships... When is Nigeria going to be okay?


But did you try microfinance Bank?


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The reason why they are confident enough to give student loans is because they know beneficiaries will repay they loans when the're done with their schooling.

Here in Nigeria the beneficiaries will come up with all kinds of schemes to avoid repaying the loan

Micro finance banks are supposed to be the best but sometimes their interest rates are very high. Forming cooperatives will be better

In2systemsTech:
Well... That's how the story goes... Out there you can even get a loan to study... Apart from the grants and scholarships... When is Nigeria going to be okay?


But did you try microfinance Bank?





.

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slawormiir:
Damnnn niggar
Isoright ....

You see why youths do anything to make money..

This is what I keep on telling my niggarrrrs

Before you become successful in this gadamnnn world......sometimes you have to do something illegal first.....then as the money comes...stop that illegal dope shit and use the money to pursue that your legal dream

This na exactly how most of our millionaires and Billionaires take start...because at the beginning nobody will help, sponsore or invest in your ideas especially if you are from a poor background

Stop saying this truth in the public

IsaacRocks:
#Storytime.
I Once went to the bank to pitch one of my products (a lean startup under Pantakers) to one of the popular Banks in Abuja, after talking about the partnership type and showing my prototypes and idea, carelessly the lady just looked straight at me and said.

"No1 I don't understand what you are talking about.

No2 you can have access to any facility either in loan or fund from the bank".

This statement almost killed me immediately, mhen entrepreneurs in Africa especially Nigeria are suffering oo, with tears in my eyes .
I left there knowing that God that gave me the idea will water it and those banks will one day come and beg to invest in my idea.

Because banks do not have any money of their own. They hold other people's money so you can only access a loan after you have succeeded in the business on a small scale.
I personally do not consent that the bank use my money to fund start ups or ideas.
In fact there is no bank shareholder that will consent to that

Ordinary 7K loans Nigerians will borrow and refuse to pay back but these same people will be wondering why no one wants to give financial support to their business ideas

If you want to start a business don't put your mind getting any money from Nigerian banks . It's a dead end. Only existing bug businesses get loans. Don't believe what government says on TV and social media.

The problem is that most banks have sent their long serving, and therefore widely experienced and competent staffs home, under the guise of cutting cost and improving profitability.

Their present crops of staff are mostly newbies, with little or no knowledge or experience about loan and credit processing. Moreover they have less passion for the job because they know that their bank managements can also dispense with their service at will, in the same manner they treated their former senior colleagues.

Don't give up. You could explore other means to actualizing the dream.

like how much loan are you talking about! there is a coming up micro finance bank MShood, gives small loan without interest, but you must bank and make transactions for like 3 months to qualify. Am sure, and if you are a sincere person, you will definely get it

IsaacRocks:
#Storytime.
I Once went to the bank to pitch one of my products (a lean startup under Pantakers) to one of the popular Banks in Abuja, after talking about the partnership type and showing my prototypes and idea, carelessly the lady just looked straight at me and said.

"No1 I don't understand what you are talking about.

No2 you can have access to any facility either in loan or fund from the bank".

This statement almost killed me immediately, mhen entrepreneurs in Africa especially Nigeria are suffering oo, with tears in my eyes .
I left there knowing that God that gave me the idea will water it and those banks will one day come and beg to invest in my idea.

In the beginning no one will believe in you.......But as you keep pushing to connect the two ends, some will start to believe you..

Just do anything you can to raise the money...Bank and similar stuffs will never be...If they will it will be a useless sum that can't even lead you anywhere...

Very useless and corrupt country..

Shokoloko:


Because banks do not have any money of their own. They hold other people's money you can only access a loan after you have succeeded in the business on a small scale.
I personally do not consent that the bank use my money to fund start ups or ideas.
In fact there is no bank shareholder will consent to that

This a very myopic opinion.
If the foreign banks have been doing this to their customers, do you think we would have seen the likes of Apple, Microsoft, Google, Amazon on the world stage. This set of companies were also start ups at their initial stage who benefitted from their banks assistance, at which the banks are also benefitting immensely from their patronage.

Nigerian banks are generally risk averse, that is why they will continue to remain local champions, ripping off innocent customers with illegal charges.

you can visit: mshood.ng

membranus:


This a very myopic opinion.
If the foreign banks have been doing this to their customers, do you think we would have seen the likes of Apple, Microsoft, Google, Amazon on the world stage. This set of companies were also start ups at their initial stage who benefitted from their banks assistance, at which the banks are also benefitting immensely from their patronage.

Nigerian banks are generally risk averse, that is why they will continue to remain local champions, ripping off innocent customers with illegal charges.

In 1975, the 20-year-old Jobs and Wozniak set up shop in Jobs' parents' garage, dubbed the venture Apple, and began working on the prototype of the Apple I. To generate the $1,350 in capital they used to start Apple, Steve Jobs sold his Volkswagen microbus, and Steve Wozniak sold his Hewlett-Packard calculator

Did Bill Gates borrow money to start Microsoft?
Gates reportedly called MITS (the maker of the Altair 8800) from his dorm room and offered to create software for it. MITS readily accepted and both Gates and Allen set to work. By 1975, the pair sold the software (as the programming language "BASIC" to MITS for $3,000 plus royalties

Where did Larry Page get money for Google?
In order to further their search engine, Page and Brin raised about $1 million in outside financing from investors, family, and friends. They called their expanded search engine Google—a name derived from a misspelling of the word googol (a mathematical term for the number 1 followed by 100 zeros).

Did Jeff Bezos start with a loan?
Amazon.com: Founder Jeff Bezos got a $100,000 investment from his parents to start the famous online store.

Even foreign banks will want to see some small scale success.

You can see that the four entities you quoted were not funded with bank loans

slawormiir:
Damnnn niggar
Isoright ....

You see why youths do anything to make money..

This is what I keep on telling my niggarrrrs

Before you become successful in this gadamnnn world......sometimes you have to do something illegal first.....then as the money comes...stop that illegal dope shit and use the money to pursue that your legal dream

This na exactly how most of our millionaires and Billionaires take start...because at the beginning nobody will help, sponsore or invest in your ideas especially if you are from a poor background

The 2nd most reasonable thing I've heard from you in recent months. No billionaires is 100% legit

In2systemsTech:
Well... That's how the story goes... Out there you can even get a loan to study... Apart from the grants and scholarships... When is Nigeria going to be okay?


But did you try microfinance Bank?





.

Direct Toks 2013 Ford Edge For Sale In Onitsha
https://www.nairaland.com/6737594/direct-toks-2013-ford-edge

mfb's charge too much interest, they are like online loan sharks

Kazim88:
Bank all over the world don't give unsecure loan to start up and "Idea".

Some bank won't even give you loan with a valuable collateral if you are a start up.

It's not worth the risk for both the bank and entrepreneur.

Now, coming to Nigeria where the system for loan recovery is non existence making loan interest terribly high. where 1 out of 500 Entrepreneur stays afloat after 5 years according to CAC statistics.
Where ignorant career politicians, fraudsters makes doing business almost impossible...

For working into a Nigerian bank seeking funding for a Idea, you should be arrested and counsel for attempting suicide.

Lastly, I pray you succeed. The process and your struggles to the top will make you understand and appreciate that banker lady.

I love ur approach

Crazy to think the bank would loan you money for a startup with no traction. Banks don't lose money! It's not just in Nigeria but throughout the world. You need to go through private investors or through friends and family (Fastest way).

You need to gain tractions man, You can aswell check out how I got funded series on @ingressivecap. That would help you on how the games gets played better.

membranus:


This a very myopic opinion.
If the foreign banks have been doing this to their customers, do you think we would have seen the likes of Apple, Microsoft, Google, Amazon on the world stage. This set of companies were also start ups at their initial stage who benefitted from their banks assistance, at which the banks are also benefitting immensely from their patronage.

Nigerian banks are generally risk averse, that is why they will continue to remain local champions, ripping off innocent customers with illegal charges.

I have pulled out how the four entities you quoted started. Please take some time to read it as none were started with bank loans.
Thanks

Banks have credit policies and procedures. Have you considered running the business for a year minimum with your own funds, I call it testing of the waters. How much have you invested in your idea. How much have you made?. Banks are profit making institutions and one of the key reasons why bank fails is illiquidty in the short term resulting to insolvency in the long run all boiling down to high NPLs which would have to be written off in the event of loss. That's 100% loan loss provisioning.

Shokoloko:


In 1975, the 20-year-old Jobs and Wozniak set up shop in Jobs' parents' garage, dubbed the venture Apple, and began working on the prototype of the Apple I. To generate the $1,350 in capital they used to start Apple, Steve Jobs sold his Volkswagen microbus, and Steve Wozniak sold his Hewlett-Packard calculator

Did Bill Gates borrow money to start Microsoft?
Gates reportedly called MITS (the maker of the Altair 8800) from his dorm room and offered to create software for it. MITS readily accepted and both Gates and Allen set to work. By 1975, the pair sold the software (as the programming language "BASIC" to MITS for $3,000 plus royalties

Where did Larry Page get money for Google?
In order to further their search engine, Page and Brin raised about $1 million in outside financing from investors, family, and friends. They called their expanded search engine Google—a name derived from a misspelling of the word googol (a mathematical term for the number 1 followed by 100 zeros).

Did Jeff Bezos start with a loan?
Amazon.com: Founder Jeff Bezos got a $100,000 investment from his parents to start the famous online store.

Even foreign banks will want to see some small scale success.

You can see that the four entities you quoted were not funded with bank loans

So in your own view it is those little funds they contributed to their inspiration that make them the big technology giants they are today.

Why don't you dig deeper and reel out their debt profiles with banks before they become the cash cows they now are.

There are always a beginning for any business, and in a sane climate, banks are always willing to help any customer with a good business plan.

Do not bother with our commercial banks for loans!

You are better off approaching a VC than a bank!

The banks are happy with the card maintenance charges, transfer charges, SMS alerts and giving bad loans to their board members.

IsaacRocks:
#Storytime.
I Once went to the bank to pitch one of my products (a lean startup under Pantakers) to one of the popular Banks in Abuja, after talking about the partnership type and showing my prototypes and idea, carelessly the lady just looked straight at me and said.

"No1 I don't understand what you are talking about.

No2 you can have access to any facility either in loan or fund from the bank".

This statement almost killed me immediately, mhen entrepreneurs in Africa especially Nigeria are suffering oo, with tears in my eyes .
I left there knowing that God that gave me the idea will water it and those banks will one day come and beg to invest in my idea.

I once went to my bank too many years ago requesting for a loan.
I was asked if I had a collateral.

I piece of advice for anyone going to banks for loans.
Don't always spill out all of your ideas to them as they always hijack them & sell to moneybags.
So be wise!

Drop your email now

IsaacRocks:
#Storytime.
I Once went to the bank to pitch one of my products (a lean startup under Pantakers) to one of the popular Banks in Abuja, after talking about the partnership type and showing my prototypes and idea, carelessly the lady just looked straight at me and said.

"No1 I don't understand what you are talking about.

No2 you can have access to any facility either in loan or fund from the bank".

This statement almost killed me immediately, mhen entrepreneurs in Africa especially Nigeria are suffering oo, with tears in my eyes .
I left there knowing that God that gave me the idea will water it and those banks will one day come and beg to invest in my idea.

Hush puppy and abba Kyari be baby yahoo boys for Nigerian banks dey fuckkk....

Enyimbamercedes:
Do not bother with our commercial banks for loans!

You are better off approaching a VC than a bank!

The banks are happy with the card maintenance charges, transfer charges, SMS alerts and giving bad loans to their board members.

membranus:


So in your own view it is those little funds they contributed to their inspiration that make them the big technology giants they are today.

Why don't you dig deeper and reel out their debt profiles with banks before they become the cash cows they now are.

There are always a beginning for any business, and in a sane climate, banks are always willing to help any customer with a good business plan.

Banks don't provide loans to start ups.

Stop saying what you don't know.

VC firms are the ones who provide funding for startups.

Banks only provide growth capital after you have proven viability and even so, most bank loans are collaterized or based on particular projects cashflow.

slawormiir:
Damnnn niggar
Isoright ....

You see why youths do anything to make money..

This is what I keep on telling my niggarrrrs

Before you become successful in this gadamnnn world......sometimes you have to do something illegal first.....then as the money comes...stop that illegal dope shit and use the money to pursue that your legal dream

This na exactly how most of our millionaires and Billionaires take start...because at the beginning nobody will help, sponsore or invest in your ideas especially if you are from a poor background

This is damn truth u r spewing.
Know someone who told me the CEO of patricia was a gboy back in uniport..
He cashed out, cleaned the dirty money thru good business, now he is everybody's prayer point.
If they know how he made that capital...

Shokoloko:

I have pulled out how the four entities you quoted started. Please take some time to read it as none were started with bank loans.
Thanks

Nobody ever starts any business with a bank loan. You start with your own little contribution, and thereafter to boost it, you seek for bank credit. But as long as you are still managing your business with your little fund, you are a start up.

IsaacRocks:
#Storytime.
I Once went to the bank to pitch one of my products (a lean startup under Pantakers) to one of the popular Banks in Abuja, after talking about the partnership type and showing my prototypes and idea, carelessly the lady just looked straight at me and said.

"No1 I don't understand what you are talking about.

No2 you can have access to any facility either in loan or fund from the bank".

This statement almost killed me immediately, mhen entrepreneurs in Africa especially Nigeria are suffering oo, with tears in my eyes .
I left there knowing that God that gave me the idea will water it and those banks will one day come and beg to invest in my idea.

So sorry for the experience sir ...

Do you reside in ABUJA? If yes please think "crystal Bricks MCS" located in Wuse 2 close to EFCC office opposite Rockview hotel and also Mazado Plaza Shettima Mungono Crescent by Berger Yard Utako.

We partner with people in providing loans for their business and personal loans also.

Feel free to buzz up on WhatsApp @ 08103321990

membranus:


So in your own view it is those little funds they contributed to their inspiration that make them the big technology giants they are today.

Why don't you dig deeper and reel out their debt profiles with banks before they become the cash cows they now are.

There are always a beginning for any business, and in a sane climate, banks are always willing to help any customer with a good business plan.

you are not getting it. You have to succeed on a small scale before the banks come in.
No bank in any climate will fund an IDEA. They have policies, they cannot.
And that is where investors come in.

Even if I dig deeper you will find out that the banks only came in after the business had started making a little profit

Kazim88:
Bank all over the world don't give unsecure loan to start up and "Idea".

Some bank won't even give you loan with a valuable collateral if you are a start up.

It's not worth the risk for both the bank and entrepreneur.

Now, coming to Nigeria where the system for loan recovery is non existence making loan interest terribly high. where 1 out of 500 Entrepreneur stays afloat after 5 years according to CAC statistics.
Where ignorant career politicians, fraudsters makes doing business almost impossible...

For working into a Nigerian bank seeking funding for a Idea, you should be arrested and counsel for attempting suicide.

Lastly, I pray you succeed. The process and your struggles to the top will make you understand and appreciate that banker lady.

Is education a secured venture?
But banks in US give loans for studies, education is just like commerce, u might forecast its future, but the future have its own outcome.

membranus:


Nobody ever starts any business with a bank loan. You start with your own little contribution, and thereafter to boost it, you seek for bank credit. But as long as you are still managing your business with your little fund, you are a start up.

OP's case is different. OP has not started a business. He went to the bank with an idea and no tangible assets. That is the crux of the matter