₦airaland Forum

[quote author=Or11 post=103416094]Will you shut up, every human has a right to love who they want.

It's like u are one of them...

Planning to apply for a business loan? No matter where you apply, the lender or bank receiving your application generally follows the same review process. This review includes the “5 C’s of credit.” These characteristics of credit are used to evaluate your potential as a borrower.

Understanding the “Five C’s of Credit”
Familiarizing yourself with the five C’s—capacity, capital, collateral, conditions and character—can help you get a head start on presenting yourself to lenders as a potential borrower. Let’s take a closer look at what each one means and how you can prep your business.

*Capacity. Likely the most important of the five, capacity is your business’ ability to repay loans. Make sure your business plan demonstrates steps to repay any loans you borrow. Specifically, lenders look at revenue, expenses, cash flow and repayment timing and will look at your business and personal credit scores.

*Capital. The cash you put toward starting your business is called capital, and it’s a good way to show a lender how serious you are about success. It’s unlikely that you’ll be able to finance 100 percent of your startup or acquisition costs, so to get a loan, you’ll need to make an investment in your business first. This may come from deposits or money from other sources.

*Collateral. When evaluating a loan application, a lender will generally look at collateral as a secondary source of repayment for the loan. They’ll want to make sure that if the loan payments stop for some reason, they can recover what they’re owed through collateral. This could be equipment, vehicles or inventory. The loan amount will be based on a percentage of the collateral’s value, which is called the loan-to-value ratio (LTV). Different types of collateral have different LTVs.

*Conditions. Be prepared to demonstrate that there’s a market for your business and a clear purpose for the loan. Base your arguments on the local, regional and national economy, the competitiveness of the business, the type of industry and your experience in it, and your experience managing a business.

*Character. The final C includes a look into who you are as a borrower, including your educational background, business experience and personal credit history. Your personal credit history is important because you may be required to personally guarantee the loan. Statistics show that the way a person handles personal credit generally indicates how he or she will manage business credit. Any references or other background information you can provide will be considered. It helps if you and your employees have experience and a positive reputation in your business’ industry.

Why Are They Important?

The five C’s of credit provide an objective, big-picture framework that your credit union, bank, lender or underwriter can use to determine your eligibility for a loan. They outline the basic structure of credit analysis—the method used to determine your creditworthiness—and can make a big impact on the loan approval process.

I hope that's help

Good morning sir/madam.

I just want to be very sincere and poliegth to you. Banks don't give you money to start business, they can only give you money to expand your business.

The rate of NPL (Non performing Loans) are on the high side and this NPL are mostly from the cashflow loans.

For SMEs, you can only get a loan through Cashflow lending. Just as the name implies, CASHFLOW. Your bank will look through your cashflow for the last one year and score you based on that.
So if your looking for 10m that means your cashflow must be over 20m.
Collateral lending are for large corporations.

Banks don't consider collateral as a yardstick for lending in today's banking because of the bottleneck in perfecting the property documents which might not even be possible.

For example, some states governor's has not consented on any C of O (certificate of occupancy) since the assume office and without this document or customary right of occupancy you can't get a loan from bank if your considering collateral loan.


Am I saying it's difficult to get a loan from Nigerian Bank. That will be a Yes and No.

Let me shock you, Banks are desperate for people to come and get loan from them. But you have to meet some preconditions for that to happen.

The best and easiest way to get a loan from bank is to use your salary account. But your salary determine how much you can take.

If your looking for a capital to start your own business,

*look for venture capital firms (or a venture capitalist), angel investors. This are companies and individual that provide funding for business. An angel investors will invest in your idea but a VC won't, your business must be up and running and on cashflow positive before they will even consider investing.

*Get a job save from your salary

*Make sure your company pays your salary straight to your account then you can use your salary account to get a loan.

I hope this helps?

Am not trying to look desperate but at the same time am not afraid of you stealing the idea. But I'll love to share it with you. As long as your not in my current state of operation (Rivers State). 07066986587

Agritech. (Agricultural value chain)

Do you live in Port Harcourt, Rivers State?
Are you a Sea food lover?
I gat you..!!!

Do you run a food (restaurant) business, we gat you.
If you are into food business, well, I think we are the best partner that has ever come your way.

get almost all your supplies from us on credit. buy now and pay later.


* fish, *crayfish * periwinkle, red oil, vegetables and meat.

subscribe to this now, it's better than taking a high interest loan from bank for the same purpose.

well, if you are gainfully employed, we can also stuck your your kitchen on credit for you to pay us when you are paid by month end.

email: gavedet@gmail.com
WhatsApp/call: 07066986587

I'll love to shot my shot as well and am not afraid to share the business plan.

I'm ready to discuss about the business with any prospective investor.
All we are looking for is a running capital of about 1-2million naira.

I resigned from Union Bank because of this. That's to tell how committed I am towards it.

We need a partner(s) to enable the company reach her goal faster.

We are duly registered as (Gavede Nig ltd)

07066986587. (WhatsApp/calls)
gavedet@gmail.com

Do you live in Port Harcourt, Rivers State?
Are you a Sea food lover?
I gat you..!!!

Do you run a food (restaurant) business, we gat you.
If you are into food business, well, I think we are the best partner that has ever come your way.

get almost all your supplies from us on credit. buy now and pay later.


* fish, *crayfish * periwinkle, red oil, vegetables and meat.

subscribe to this now, it's better than taking a high interest loan from bank for the same purpose.

well, if you are gainfully employed, we can also stuck your your kitchen on credit for you to pay us when you are paid by month end.

email: gavedet@gmail.com
WhatsApp/call: 07066986587

To add it, Bruno joined police as a cadet. A 2:1 graduate from Madonna University okija. He was a departmental mate.

Bruno joined Nigeria police as a cadet. A 2:1 graduate from Madonna University okija. He was a departmental mate.

He joined police as a cadet. A 2:1 graduate from Madonna University okija. He was a departmental mate.

Do live in Port Harcourt, Rivers State? Are you a Sea food lover. I gat you..

Do you run a food (restaurant) business, we gat you. If you are into food business,

we'll give you
* fish, *crayfish * periwinkle and meat on credit for you to pay us later depending on how you want it. Just call us today.. on 07066986587

Do live in Port Harcourt, Rivers State? Are you a Sea food lover. I gat you..

Do you run a food (restaurant) business, we gat you. If you are into food business,

we'll give you
* fish, *crayfish * periwinkle and meat on credit for you to pay us later depending on how you want it. Just call us today.. on 07066986587

Do live in Port Harcourt, Rivers State? Are you a Sea food lover. I gat you..

Do you run a food (restaurant) business, we gat you. If you are into food business,

we'll give you
* fish, *crayfish * periwinkle and meat on credit for you to pay us later depending on how you want it. Just call us today.. on 07066986587

Do live in Port Harcourt, Rivers State? Are you a Sea food lover. I gat you..

Do you run a food (restaurant) business, we gat you. If you are into food business,

we'll give you
* fish, *crayfish * periwinkle and meat on credit for you to pay us later depending on how you want it. Just call us today.. on 07066986587

Do live in Port Harcourt, Rivers State? Are you a Sea food lover. I gat you..

Do you run a food (restaurant) business, we gat you. If you are into food business,

we'll give you
* fish, *crayfish * periwinkle and meat on credit for you to pay us later depending on how you want it. Just call us today.. on 07066986587

Do live in Port Harcourt, Rivers State? Are you a Sea food lover. I gat you..

Do you run a food (restaurant) business, we gat you. If you are into food business,

we'll give you
* fish, *crayfish * periwinkle and meat on credit for you to pay us later depending on how you want it. Just call us today.. on 07066986587
Thank you seun and all the naira land team for this awesome platform.

Logistics business is a kind of business that has to do with procurement, distribution, inventory, maintenance, replacement of personnel materials and information to achieve organizational goals. It involves getting products and services from a supplier or manufacturer to a consumer. In this post we shall be focusing on how to start a dispatch rider business in Nigeria. It is different from setting up a courier company.

The number of Internet users in Nigeria are currently more than 100 million and more than 40% or so have done one or two online transactions within the past one year. This explains the potentials hidden in E-commerce business and it is growing in strength everyday. We are talking about now where we are facing challenges in the nation’s economy. Such challenges as a drop in the price of crude oil and the weakness of naira against dollar.

You can give any name you like to logistics business. E-commerce businesses are on the rise because of the rising number of Internet users. In fact business minded persons who do not have online presence are missing out and it won’t take long before everyone begins to tour this line since nobody will want to be on the losing side.
We have few online retail stores that are running services to match with the rising e-commerce growing markets examples are; Konga, Jumia, Jiji etc The advent of ecommerce and online buying of products and services have created opportunities for other key players in the sectors example is logistics business.
Almost all the E-commerce stores depend on logistics for effective delivery.

WHY LOGISTICS AND DELIVERY BUSINESS?

There are huge profits derived from logistics business and if you do it well, you will succeed in E-commerce business. The opportunities in delivery business is huge, many online stores keep increasing every now and then. And all or most of them requires the services of logistics business owners.

Before now clothes, shoes, agricultural products and services where available in online market. But now we are face to face with cooked food delivery business. That is why you will make good money in logistics business.

HOW TO START A DELIVERY BUSINESS IN NIGERIA

Get an office space, purchase a bike (200c) as recommended by Lagos State Government. Esquire to know what is obtainable in your location if you are not in Lagos. Write a letter to the State Ministry of transportation to collect okay paper, Your bike will be inspected by VIO. You will be required to bring the bike for inspection before the paper can be given to you.

After receiving the paper you can then register with any vehicle registration centre that is close to you. Draw out your logistics business plan as it fits your country Nigeria or anywhere you are. Bike delivery business is lucrative but you have to know the pros and cons before you start.

To get permit to do logistics business you need State Government. But when you want to start couriet business you have to get licence from Nipost. The money for logistics permit is just a few thousand while that of courier is in millions.

EQUIPMENT FOR LOGISTICS BUSINESS

Cargo bike
Mobile phone
Space
Computer
Software
Stationery
Items for keeping records
Dispatch box

STEPS TO START BIKE LOGISTICS BUSINESS IN NIGERIA

Consider these things:
Capital
Space
Social media platform
Dispatch riders
Business plan
Get licence
HOW MUCH DOES IT COST TO START A LOGISTICS BUSINESS
Logistics business requires a reasonable amount of money for the purchase of equipment and for man power but with #400,000 you can start the business. #360,000 can purchase a good bike and equipped with plastic container for the products carriage.

Bike is very convenient for logistics business because it can easily move around traffic (meander its way in and out of traffic) than a car would have done. Run a comprehensive insurance on the bike to avoid situations in case of eventuality. Delivery box is #26,000. You can buy in Oyingbo if you are in Port Harcourt.

DISPATCH BIKE RIDER
After the motorbike, the rider is another most important person to consider. Because without a good rider logistic business may crash.

He must be someone who knows the nook and crannies of the area to be covered.
Must be someone who is ready to work and have good manners including phone manners.
Since he will be handling cash and other products, he must be very honest.
PHONE
Phone is needed for communication with the buyers. So give the rider one phone to create contact with the buyers and to also communicate with you when the need arises.

STORE
You can start from the comfort of your home, however to make it official and serous you can acquire a space for it and employ one or two staff.

SOCIAL MEDIA PLATFORM
Use social media platform to attract more econmerce stores and online merchants. Use Facebook, Instagram, twitter and website to tell people about your logistics business. In fact people looking for your kind of services can easily find you.

BIKE LOGISTICS BUSINESS PLAN IN NIGERIA
Don’t fail to draw a business plan for your delivery business. It should include areas to cover, amount to start with and projection for the future. Lets write your logistics business plan for you. Call: 07066986587

HOW TO SET CHARGES IN LOGISTICS BUSINESS
Let’s take Lagos delivery for instance; you can deliver goods anywhere in Lagos at the cost of #200. But a typical delivery in Lagos cost #500 and logistic outfit charges more. For a start you can charge #500 as a flat rate for any location. Since you will be delivering in volume the cost can be spread out.

But as the number of customer increases you can then set different charges according to locations.

PROFITS IN LOGISTICS BUSINESS

Assuming you have about 10 businesses that uses your service and each sales 100 items averagely in a month. This means in a month you will have 1,000 deliveries. If you enter agreement with the companies to charge #400 for 1kg of item to deliver around Lagos or your location, in a month you will realize #400,000 for 1,000 items delivered.

location, in a month you will realize #400,000 for 1,000 items delivered.



By the time you deduct expenses like; fuel, recharge cards, engine oil, salary, bike maintenance maybe plus miscellaneous you will have about #200,000 as a take home pay for a month.

LOGISTICS COMPANY IN NIGERIA
JonKelly Logistics Limited
Simplified Corporate Logistics
Fromix Logistics
GIG Logistics
Max Logistics
CHALLENGES OF LOGISTICS BUSINESS
Factors that affects e-commerce deliveries are:

People make orders for what they don’t want or change their minds about it. And will refuse to pick your calls when you have reach their location. Thereby wasting your time and fuel money.
Some customers have attitudes, they will tell you the item you brought is not the same with what the saw online. As because of that you can’t claim your money because they wouldn’t pay.
Unnecessary delays from some of the clients when you go for deliveries. And you will end up delivery less than your target for the day.
MARKETING
Advertise your logistics business both online and offline. Look for ways to get to online merchants and individuals that sell products on social media platforms.
Reach out to companies, agencies and businesses that will require your services. Some of those outfits include; Kaymu, Dealdey, Konga and online food vendors, where merchants are allowed to self fulfil.

Lets write bike logistics business plan for you. Call:07066986587

I saw a topic today with a caption similar to this one. "can you marry a woman like your mother"?

100% I can marry a woman like my mother. But I doubt I'll marry a Man like my father if I was a woman... I will die of heart attack. That man and woman... Jesus!!!
They are five and six!!!

More pictures and videos soon

I decided to spend some quality time with my kids after picking them off from school. While seeing cartoon together my boy asked me which of the cartoon character I'll love to be .... I told him I'll love to be the Gold ninja.
My boy is writing the Gold ninja sign on almost all my clothes within his reach.

Are you experiencing same?

I have a little cousin of 10.. he claimed two days ago that he was not feeling fine. I caught him in the bathroom stuffing his finger inside his mouth in other to make him throw up to back up his claims of not feeling fine. the Dad came back from work and asked him what he would like to eat... this boy did not just mentioned one thing, he made a list
shawarma, suya and Habib yoghurt.

while I was in their room, I heard the younger brother who is 5 asking him, " I hope you are ok now?
me I won't feel fine tomorrow. you didn't give me enough suya... I guess the mum is aware of this prank this boys are playing....

As a banker, as much as I hate Bank Jobs, it has her own advantages as well as disadvantages. So this is my advice to you.

Before I go into details, I have a colleague of mine, who took a loan to buy a very nice Toyota Corolla for the purposes of Uber. After work, he would switch to Uber and run it till 8pm. Today, he's one of the big boy in my branch... Even the BSM, looks up to him.

So bro!!! You said you just got married.... Take the bank job... Be polite with your customers... Always wear a smiling face, interact with them... There's what we call TYS (thank you sir) you'll be surprised with how much money you'll have every week through TYS. You need that experience... Your happy customer can take you to your dream job... I can give you so many examples and testimonies from my colleagues.
It's not easy to be a banker I won't dispute that fact, but you can as well make it easy and fun.

Your family also need that fixed monthly remuneration.

Secondly, go ahead and buy the car... Ensure to close and balance your book on time. Leave office on time... Run your Uber business at least from 5-8 or 6-8 and every weekend.

With this, within a year or six months you'll be able to make a valid decision. PLs take this as my candid advice.

God bless you sir.

Wow!!! 2008 experience? Sir a lot has changed in banking.... Like I said, Banks no longer depends on collateral lending. They do cashflow lending.

Your other questions, BOI support only business with the capacity to solve problem of job creation. Not buying and selling business. I think you can only get funding in that category if your retail business will compete with the likes of ShopRite.



[Qquote author=tutudesz post=101148070]
My business was existing before the loan and i was planning to expand, they classified my business has high risk. Profit was bellow N5 million and the collateral should be worth N100 million.
This was 2008 and maybe due to my age than. Does BOI support bars [/quote]

Bro na lie be this oooo. You can't approach a bank for 10m and they'll request for a collateral Worth of 100m. Which year was that...?
Because today, Banks don't consider collateral as a yardstick for lending...
You know why, it's because it's near impossible [sic] to perfect any property documents in this country... For any property to be accepted by Banks as a collateral, the (land or any physical structure) must have
*C of O
*Survey certificate
*Approved plan and other legal papers.
We all know that it's only the governor that can prove this document (certificate of occupancy) and ever since the last general election, if not all so many of them has not signed a single one.

Banks don't finance startup.... They finance existing business that has a good cash flow... So if your looking for funds to start up... Look for Angel investors, VC firm, and VC individuals.

You that said you were looking for 10m, has your business ever made up to that amount before, do you have the cash flow that will support the funds... I'll advise you to go to bank of industry BOI. Thank me later

tutudesz:
Forget Nigeria Banks O!! Once requested for a loan of N10 million to upgrade my business to stage 2, only for the loan officer to request for collateral worth N100 million

We should Even be more ashame not knowing how to speak our native language and Pidgin!!! Not English (another man's tongue)

Who English help!!!

In letter writing, there's Formal and Informal letter.

Bro!! Do you at all time observe proper English when or while chatting with your friends?

As long as the recipient or both parties can assimilate, I see no probs...

Beside who English help? Be very guided

What courage are you talking about. So where you expecting him to come and be King in her own father's house... Or because of marriage she she step down and let him be King?..

Jess's!!!! Didn't he know that she was a princess and a Queen to be.... Philip was just cashing out... Elizabeth gat nothing to loose... He has everything to...

Can someone please tell me the advantage of this FTC. Is there any benefit?

Another thing is FTC hijacking. I do hear people here complaining ''' you hijacked my FTC .. what makes it your own... How did you own it... How can one own it...

SimplyFacts:
Come take the FTC if you have something meaningful to say. This is not my area of calling on NL.


Eko 'o baje

Why are you this stupid!!! They said grant not loan.... And the grant is given to only poor and vulnerable countries..

The question now is, "is Nigeria poor and vulnerable"?

judecares1:
they knew that under this useless government, there is no means of repaying.

thunder scatter people when they support evil government and kola-nut teeth

Tajbol4splend:
He's taking good care of his children, how is he irresponsible?

Pls help me and ask them oooo... Was she thinking that she'll be the last bus stop.... What makes her different from other of his Baby mama?

Imagine Regina Daniel crying that her husband is cheating on her or probably her husband wants to pick another wife...

What will be will be... Davido is certainly not the first and he won't be the last... 2face (aka 2baba) did it with Ani....