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Nairaland Forum / Nairaland / General / Business / 5 Important keys on how to Secure a loan from a bank (17815 Views)
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5 Important keys on how to Secure a loan from a bank by nairametrics: 2:47pm On Nov 03, 2017 |
Banks are in the business of making money. One of the ways through which banks make money is from interest income on loans to businesses. https://nairametrics.com/5-important-keys-on-how-to-secure-a-loan-from-a-bank/ 1 Like
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Re: 5 Important keys on how to Secure a loan from a bank by Nobody: 3:43pm On Nov 03, 2017 |
It is easier for a camel to pass through the eye of a needle than for a layman to get a loan from a NIGERIAN Bank! 25 Likes 1 Share |
Re: 5 Important keys on how to Secure a loan from a bank by free2ryhme: 3:43pm On Nov 03, 2017 |
Loan from banks are greek gifts 4 Likes 2 Shares |
Re: 5 Important keys on how to Secure a loan from a bank by free2ryhme: 3:44pm On Nov 03, 2017 |
2 Likes |
Re: 5 Important keys on how to Secure a loan from a bank by Nobody: 3:46pm On Nov 03, 2017 |
free2ryhme:Please stop tagging/quoting me on a sex video on YouTube as u did on the other thread. Be warned. https://www.nairaland.com/4033195/visit-kalakuta-republic-museum-fela/3#62039508 Your 2nd moniker. 1 Like 2 Shares |
Re: 5 Important keys on how to Secure a loan from a bank by GoodMuyis(m): 3:47pm On Nov 03, 2017 |
Most of these condition did not favour startups who has promising future. For example [url=nafarmfoods.com]NafarmFoods[/url] a startup company have being working to change the we people consume and store Tomato. if we are able to enter market we will knock off tomato paste business, because our product is organic, i.e. no preservatives but pure tomato. Our Challenge, African challenge is funding, we have approach banks, but rejected, or their terms is just too scary. Terms like 35% interest rate and some hidden charges that will increase the interest rate to about 40%. The only solution is for govt to hasten to pass the MSME bill presently debate in the house and to enfore 2 digit interest rate, anything from that we are OYO 3 Likes |
Re: 5 Important keys on how to Secure a loan from a bank by adedayo3193(m): 3:50pm On Nov 03, 2017 |
"Taking loan from banks",nah I will pass 2 Likes |
Re: 5 Important keys on how to Secure a loan from a bank by whitepaul: 3:51pm On Nov 03, 2017 |
I want a bank that will give me loan and leave me alone 10 Likes |
Re: 5 Important keys on how to Secure a loan from a bank by 9jvirgin(m): 3:52pm On Nov 03, 2017 |
Just say 5 key ways to secure your own death. 1 Like |
Re: 5 Important keys on how to Secure a loan from a bank by free2ryhme: 3:52pm On Nov 03, 2017 |
modelmike7: you sure say you no smoke anything before you post this comment stop this false accusation 1 Like |
Re: 5 Important keys on how to Secure a loan from a bank by Nobody: 3:53pm On Nov 03, 2017 |
free2ryhme:Just be warned! |
Re: 5 Important keys on how to Secure a loan from a bank by free2ryhme: 3:54pm On Nov 03, 2017 |
modelmike7: why shld i own a second account when i have been using one for the past 10 years + 2 Likes
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Re: 5 Important keys on how to Secure a loan from a bank by Maleeq(m): 3:56pm On Nov 03, 2017 |
#1. Get an white man (even Indian or chinko) to follow you to the bank and they will give you that business loan fast! Our banks frustrate genuine budding entrepreneurs seeking facilities. But they would be the first to run to the entrepreneur when his business thrives! |
Re: 5 Important keys on how to Secure a loan from a bank by kay29000(m): 3:59pm On Nov 03, 2017 |
Hmm! Okay. |
Re: 5 Important keys on how to Secure a loan from a bank by Slayer2: 4:03pm On Nov 03, 2017 |
God punish all these bank people. Them no gree give me loan even with my complete land documents because they say I don't have C/O, C/O for virgin land?? ? I just hiss commot the bank |
Re: 5 Important keys on how to Secure a loan from a bank by Jagz16(m): 4:10pm On Nov 03, 2017 |
May I never take loan from bank instead I’ll be the one giving them loan ...Amen 1 Like 1 Share |
Re: 5 Important keys on how to Secure a loan from a bank by Koolking(m): 4:17pm On Nov 03, 2017 |
nairametrics: Possessing all other keys will keep your proposal with the security men at the gate. The only requirement of securing a loan from Nigerian banks is collateral. Not just any collateral - Landed Property or something worth more in value than the loan amount itself. Another condition worth considering is if you are the Dangote type of business man. |
Re: 5 Important keys on how to Secure a loan from a bank by hardon1(m): 4:20pm On Nov 03, 2017 |
dey there dey speak drama
1. coLLatERal
2. COllateRAL
3. CoLLATERal
4. C-o-l-l-a-t-e-r-a-l
5. C.o.l.l.a.t.e.r.a.l 2 Likes |
Re: 5 Important keys on how to Secure a loan from a bank by aolawale025: 4:26pm On Nov 03, 2017 |
Koolking: Only a lazy banker would consider collateral as the most important factor. Business cash flow ie capacity that's what pays back loans. Any good collateral is just a back-up. |
Re: 5 Important keys on how to Secure a loan from a bank by Nobody: 4:30pm On Nov 03, 2017 |
taking a loan against my salary has been my best decision in 2017. use the money buy land. no more money for babes. when dem tax me, am like am repaying loan 2 Likes |
Re: 5 Important keys on how to Secure a loan from a bank by Koolking(m): 4:37pm On Nov 03, 2017 |
aolawale025: Business cash flow does not secure you loan from Nigerian banks nowadays. I am speaking from experience. To be considered, banks need landed properties in choice areas where they can lease out and get their money back should you default. Even the so call Islamic banks (non interest banks) also place stringent requirements and collateral as one of the conditions. Like someone said earlier, it is easier for a camel to pass through the needle eye than for you to secure loan from Nigerian banks. 1 Like |
Re: 5 Important keys on how to Secure a loan from a bank by izzy4shizzy(m): 4:38pm On Nov 03, 2017 |
Loans sometimes do more harm than good |
Re: 5 Important keys on how to Secure a loan from a bank by izzy4shizzy(m): 4:38pm On Nov 03, 2017 |
Loans sometimes does more harm than good |
Re: 5 Important keys on how to Secure a loan from a bank by chukzyfcbb: 4:50pm On Nov 03, 2017 |
Koolking:very true bro, others are speaking grammer. If you need a Loan of 500thousdan naira from the bank, then you must first present a collateral of about 4million. With Nigerian Banks, they only give u loans when they know you have assets that is x10 of the loan. There is no way a Nigerian bank will give you koan of 10million if your business is 10million in asset, lia lia.... If you like be generating 1million per month, impossicante! |
Re: 5 Important keys on how to Secure a loan from a bank by Nobody: 4:52pm On Nov 03, 2017 |
how can a corps member get loan during NYSC? |
Re: 5 Important keys on how to Secure a loan from a bank by aolawale025: 4:55pm On Nov 03, 2017 |
Koolking: I started banking in 1996 with GT bank. Went through four banks over 20 years. So am sure of what I said. We were thought in credit school not to lend strict on the basis of collateral. |
Re: 5 Important keys on how to Secure a loan from a bank by femimike1(m): 5:18pm On Nov 03, 2017 |
Nice one Which bank has the highest rate on fixed deposit? And how many % ? |
Re: 5 Important keys on how to Secure a loan from a bank by Koolking(m): 5:20pm On Nov 03, 2017 |
aolawale025: You are talking about what you were taught and not what is real. I am talking as a businessman and on what is doable now. Of course healthy business cash flow should be basis for granting loan but that has changed. Nigerian banks are majorly 'deposit boxes' nowadays. They are very comfortable milking their customers through unwarranted deductions from their accounts. 1 Like |
Re: 5 Important keys on how to Secure a loan from a bank by arrestdarrester: 6:24pm On Nov 03, 2017 |
These 5Cs don't apply to Nigeria. Our bankers here are very considerate. All they ask is that 1C that can enrich the directors should you default |
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