₦airaland Forum

shortgun:
Access bank will direct you to an account officer who never pick your call again immediately you mention loan. It doesn't matter how viable the business is, they will never reply your mails, chats or ever return your calls.
But when the funds finally came I use them do yeye taya

blesdman:
I don't know. Banks hardly give loans to people, except their proxies

Britishcoins:
instead of looking for loan why not build good customer relationship with ur suppliers... that was how I made it, I was faithful to them, they always give me goods on credit and I pay immediately I sell them

koladata:
I know many business that turn over 50millionaire per week... not guess businesses i know personally

Stephen0mozzy:
Bank dey give una loan?
Abeg give update.

The way commercial banks frustrate credit facilities is what made these criminal Fintech apps charge exorbitant rates for loans.

koladata:
I know many business that turn over 50millionaire per week... not guess businesses i know personally

DeltaBachelor:
Yes oooooooo. I can’t forget , about 28 years ago before I entered University. It was during university where I studied Finance I now knew the reason. Different accounting ratios will be calculated to ascertain your payment capacity and if you would not default on the loan. Things like bad day, normal and good day sales will be taken into consideration along with your collateral (liquidation value) in case you default.

I was just a young guy wanting to delve into a small business just to start up after Secondary school, but I was turned down because I hadn’t “established “ myself yet.

Such is life sha !

TheStoriesOfMan:
You mean money laundering?

Curious345:
Nigeria banks do not give loans . I wonder where they declare profits from

nedekid:
Can you blame them? When the average Nigerian wants loan, they are meek, humble when seeking the loan, but when it comes to making payments they become bold like lions, they know the best lawyers to avoid paying. Making a Nigerian pay loan is like dragging an ekuke to have a bath. You will hear all emotional talk of how their father died or their kid fell ill when it was time to make payment. You heard of the guy VDM spoke about that got loan through the goodwill of his judge friend, time to pay the man started trying to blackmail the lady judge that he will expose that she is the real owner of the money. Vdm got the man's bank statement, the whole money (100m)went on his wife, his girlfriend, phones, bet naija, nairabet etc. This was someone that said he got a fgn contract and needed loan to finance it. All the money gone within 2 months, all that was remaining was like 5k!
See it is not in our nature to pay loan as Nigerians, the average Joe will take sokoloan, fairmoney, opay etc, chop the money and come on this forum to claim loan app is disturbing him, and he will get plenty of support from fellow onigbese. The fastest way to make enemies with your siblings or close friends is to lend them money how much more a bank you have no emotional attachment to.

PARADIZEPRIEST:
BANKS IN THIS CLIME ARE CROOKS
They give you loan only when you have sellable property that is three time more than the value of the loan you need go get savihgs or family friends loan if yiuvreally need it.

nedekid:
Can you blame them? When the average Nigerian wants loan, they are meek, humble when seeking the loan, but when it comes to making payments they become bold like lions, they know the best lawyers to avoid paying. Making a Nigerian pay loan is like dragging an ekuke to have a bath. You will hear all emotional talk of how their father died or their kid fell ill when it was time to make payment. You heard of the guy VDM spoke about that got loan through the goodwill of his judge friend, time to pay the man started trying to blackmail the lady judge that he will expose that she is the real owner of the money. Vdm got the man's bank statement, the whole money (100m)went on his wife, his girlfriend, phones, bet naija, nairabet etc. This was someone that said he got a fgn contract and needed loan to finance it. All the money gone within 2 months, all that was remaining was like 5k!
See it is not in our nature to pay loan as Nigerians, the average Joe will take sokoloan, fairmoney, opay etc, chop the money and come on this forum to claim loan app is disturbing him, and he will get plenty of support from fellow onigbese. The fastest way to make enemies with your siblings or close friends is to lend them money how much more a bank you have no emotional attachment to.

shortgun:
Your comment is exactly the kind of mindset that is killing entrepreneurship and business growth in Nigeria.
Imagine generalizing over 200 million people and boldly saying “it is not in our nature as Nigerians to pay loans.” Where did you get this statistics from?
What you said is nothing but bitterness mixed with stereotypes.

The truth is simple, Nigerian banks are extremely reluctant to support small and medium businesses unless you already have money, connections or heavy collateral.
Many account officers disappear immediately loan is mentioned because they already assume the average person is not worth the stress. That was the exact point I was making.

Banks love rich customers, not struggling entrepreneurs. They still give the loans to fat bank account holders who still default.

The moment my account balance grew elsewhere and my business starts succeeding without them, suddenly they began calling, checking up on me and offering products. Is that not an irony?
What many bankers in Nigeria do is to approve loans only to themselves or cronies.

Yes some people misuse loans. That happens everywhere in the world, not only in Nigeria. There are Americans, Europeans, Asians and Africans who default on loans daily.
But reducing an entire country to onigbese behavior is dishonest and intellectually lazy.

The funny thing is that these same banks themselves write off billions in insider loans owed by politically connected people but become ruthlessly aggressive when chasing ordinary Nigerians over small business loans. So spare us the moral lecture.

Today many Nigerian businesses have developed alternative financing ecosystems outside the traditional banking sector.
Banks are supposed to be central to capital allocation and business expansion. However, when financial institutions become structurally detached from productive sectors of the economy, businesses naturally adapt by building parallel survival mechanisms outside the formal credit system.

Nigerian banks will eventually face institutional decline within the business lifecycle framework. Like firms in the maturity-to decline phase, institutions that fail to innovate, efficiently allocate capital or maintain relevance to emerging economic actors will die off naturally.
I can tell you for free that the banking sector has become irrelevant in this economy where businesses increasingly have learned to survive and scale without them

koladata:
Dey there dey think say every one is poor in Nigeria

TheStoriesOfMan:
You wey rich, why you never buy nairaland? Abi your cl never pay?

Try make your name dey Forbes, make you no dey browse Nairaland dey support APC.

Mtcheww

Thomthom:
pls if they are talking about loan, let's talk about our Nigeria bank loan. Not Fairmoney and easy Moni kind of loan. If banks gives loans, who for they patronise loan app

Sheuns:
How economy go grow when institutions don’t have faith or see the visions of SMEs?

They’ll say it’s safety. But they forget that in most big economies of the world, institutions and government give SMEs room and support to thrive.

koladata:
I'm not into yahoo, never done it before and would never do it in future... I'm a senior software engineer way before the tech boom.... also I don't support apc ... and nobody is fighting with you, the point i was trying to make is there are rich people in Nigeria and they are not into yahoo.

You shouldn't always turn every simple conversation to fight. You are not the smartest , I am not the smartest also... but learn to listen to other people's view especially when they claim to know somethings you don't know. It could be true.