I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? - Business

I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? - Business - Nairaland

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I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by Bolda(op): 1:13pm On Nov 16, 2018

I want to go into a business but I need more funds. I have landed property in Rivers State and I'm willing to use it as collateral to collect the loan. Please I need information on the types of firms I can get such loan from.

I've tried commercial and microfinance banks, they both said they prefer lending businessmen with offices or lock up shops as well as salary earners, rather than property owners.

Re: I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by Businessideas: 1:20pm On Nov 16, 2018

Bolda:
I want to go into a business but I need more funds. I have landed property in Rivers State and I'm willing to use it as collateral to collect the loan. Please I need information on the types of firms I can get such loan from.

I've tried commercial and microfinance banks, they both said they prefer lending businessmen with offices or lock up shops as well as salary earners, rather than property owners.

Re: I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by servercodes001: 1:23pm On Nov 16, 2018

Firms?
Sir banks are where you can get such loans
There's actually nothing like they prefer business with office or any other thing
If your property is legit and has correct papers then it's very likely you never went to the banks
If your business is not importation or any other discouraged business activity then the bank of industry or nexim bank is your best shot
Commercial banks are blood suckers
If your business idea isn't standard and cross checked
DONT COLLECT ANY LOAN!!

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Re: I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by Bolda(op): 1:39pm On Nov 16, 2018

servercodes001:
Firms?
Sir banks are where you can get such loans
There's actually nothing like they prefer business with office or any other thing
If your property is legit and has correct papers then it's very likely you never went to the banks
If your business is not importation or any other discouraged business activity then the bank of industry or nexim bank is your best shot
Commercial banks are blood suckers
If your business idea isn't standard and cross checked
DONT COLLECT ANY LOAN!!

The property is legit, has the papers and resides in Rivers State. The business is neither of your aforementioned, too.

Bank of Industry?
Nexim Bank?

Thanks for the tip, brother. I'll browse them out for their contact info.

Re: I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by Nobody: 2:18pm On Nov 16, 2018

How much is the land worth?

Re: I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by Bolda(op): 7:43pm On Nov 16, 2018

QuitNotice:
How much is the land worth?

A plot would range between 3-4million. There are about 4plots.

Re: I Need A Loan Of 5-6million Using My Land As Collateral. Any Ideas? by Nobody: 6:46am On Nov 17, 2018

Bolda:
A plot would range between 3-4million. There are about 4plots.

That's enough to fetch you the loan. Go to a commercial bank; microfinance banks focus on business owners and workers. The modern ones don't even request collateral.

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