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Re: Do Nigerian Banks Grant Teenagers Loans? by lalaboi(m): 10:47pm On Aug 17, 2013 |
p.josh: I would suggest you to contact the banks individually. . Make sure your Business idea/proposal is well written (ever heard of feasibility study?). Check the web of how to write these and make your ideas and projection very easy to understand. The other issue will be "collateral" as many have pointed out. Looks towards your parent/family for that. Honestly, I do think it will be hard for you to get your quoted amount. . |
Re: Do Nigerian Banks Grant Teenagers Loans? by meetgaya: 10:58pm On Aug 17, 2013 |
you most be 18yrs n above, most hv active current account not less than six month b4 u can apply. then ur 5Cs willl determine. tanx |
Re: Do Nigerian Banks Grant Teenagers Loans? by Nobody: 11:03pm On Aug 17, 2013 |
lalaboi: I think the infants Relief Act deals with contracts entered into by infants. Such contracts must be for necessaries. Things necessary for the survival of the infant. Any thing outside it may be voidable and it would be the loss of the bank because it might be unenforceable. 1 Like |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 11:06pm On Aug 17, 2013 |
lalaboi:thanks |
Re: Do Nigerian Banks Grant Teenagers Loans? by Nobody: 11:44pm On Aug 17, 2013 |
Josh, my advise for you is that you should go and ask the bank if they can give you a loan and what you need to get a loan if they can give you one. I see no reason why you should come here and ask people if you can get a loan or not when you can just go to the bank. Or are you scared?? That aside, I am so proud of you because you are the first young Nigerian that I have seen that is interested in starting a business as a teen. Anyway, I have sent a PM to you because I believe we can talk considering I am not much older than you. |
Re: Do Nigerian Banks Grant Teenagers Loans? by Nobody: 11:55pm On Aug 17, 2013 |
p.josh:Wait till you are 18 and banks hardly finance a business that's less than a year old. It's part of risk mitigation.By the way, if it's a start up firm, its best you look for investors. 1 Like |
Re: Do Nigerian Banks Grant Teenagers Loans? by Erukuomoibadan: 12:36am On Aug 18, 2013 |
p.josh: |
Re: Do Nigerian Banks Grant Teenagers Loans? by babsomotde(m): 1:27am On Aug 18, 2013 |
Mission Impossible. Banks are Smart. Just borrow the loan from your parents. Simple. |
Re: Do Nigerian Banks Grant Teenagers Loans? by 360command: 1:41am On Aug 18, 2013 |
Yes bank give loans to Minors . The banks to which i am sure of are the micro finance banks who give loans to people who want to start up trade such as purchase of Gala, la casera, etc(micro loans for Micro business to micro minors if i can use that word). for you to get this loan, 1)your business must be in function(you must have started with it) 2)you must have an account with them. 3)you should have like 40 000 naira in your account. with such an amount you can secure a loan of 100 k in your account. @ OP, I hope this helps cause i have no clue of what your business idea is about. so i used your age determine what loan micro finance are willing to be able to do for you. |
Re: Do Nigerian Banks Grant Teenagers Loans? by Maafiaalady: 5:28am On Aug 18, 2013 |
Once U̶̲̥̅̊ r 21 U̶̲̥̅̊ can get a loan...Business loan...Try AB MICROFINANCE BANk... |
Re: Do Nigerian Banks Grant Teenagers Loans? by baslone: 7:23am On Aug 18, 2013 |
lalaboi: Without the collateral, the banks will not give you a loan except they see and are impressed by what you are doing, not what you intend to do. No bank will carry that risk. |
Re: Do Nigerian Banks Grant Teenagers Loans? by Freiburger(m): 8:36am On Aug 18, 2013 |
Seun: If you have enough collateral, and if you're at least 18 years old, then I bet that won't be a problem.Why collateral? isn't a prove of stable employment enough for the slovency? |
Re: Do Nigerian Banks Grant Teenagers Loans? by kulgee001(m): 8:44am On Aug 18, 2013 |
Depends on what kind of loan you are talking about and what you intend to do with the money. If it is for school fees, there are banks that have facilities tailored for that purpose. I know GTBank has what it calls "school fees advance". It also has "Computer Ownership Scheme" where they help students pay for a computer system. These are meant to help teens achieve their goals. In both cases, one of your parent provides the security. |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 9:14am On Aug 18, 2013 |
baslone: that's my problem.. You know how Nigerian Parents are. Imagine me going to my father telling him he should stand as a guarantor for me because am about to collect a loan of about 4million naira from a bank,he will look at me like someone who doesn't know what his saying,that's if he even listens to what am saying. |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 9:15am On Aug 18, 2013 |
baslone: how sure are you? |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 9:19am On Aug 18, 2013 |
360command: Yes bank give loans to Minors . The banks to which i am sure of are the micro finance banks who give loans to people who want to start up trade such as purchase of Gala, la casera, etc(micro loans for Micro business to micro minors if i can use that word).am planning of collecting a loan of about 4million |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 9:25am On Aug 18, 2013 |
saxywale: Don't know where i can get one |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 9:28am On Aug 18, 2013 |
babe_online:somehow |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 9:33am On Aug 18, 2013 |
Please i will also appreciate if anybody can refer me to any venture capitalist or youth empowerment programme |
Re: Do Nigerian Banks Grant Teenagers Loans? by stupor(m): 11:37am On Aug 18, 2013 |
Gtbank and a few others offer such products and facilities called teenage banking under which such facilities fall within what is known under law of contract for minors,teens,toddlers and young adults called necessaries e.g. Food,clothing and shelter. These necessaries which over time has evolved has now included many few others such as school needs and education,social medical benefits,Resarch and development,religious and cultural benefits,investment earnings potentials,shares income owed or owned etc. Examples ! GT Young savers account,Stanbic Teen or young scholar account or something like that included many others. As a Teen,Nigerain banks give loans in as much as it conforms with law of contract promulgated for necessaries. |
Re: Do Nigerian Banks Grant Teenagers Loans? by Dempsy(m): 12:27pm On Aug 18, 2013 |
Pls bank shud not try such unless they want us mature ones to start dragging ladies wit these teenagers.....cus ladies change direction like compass |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 12:29pm On Aug 18, 2013 |
Dempsy: Pls bank shud not try such unless they want us mature ones to start dragging ladies wit these teenagers.....cus ladies change direction like compass Sir, wat have ladies got to do with this? |
Re: Do Nigerian Banks Grant Teenagers Loans? by kayLion(m): 1:04pm On Aug 18, 2013 |
@OP..Nice courage u gat here..thinking of 4million loan but I think its better to start little by little..try find where u can get smaller amount and start with...I know of a microfinance bank (Advans Lafayette) in Ibadan, they grant loans to 18+ and u must have a place of business, and u have to have an idea of ur business for at least 3years..I believe with this 3 years u have gathered enough knowledge from your business and you can pay back the loan easily...As much as I like your Confidence, I think slow and steady wins d race..try your Business idea with little capital before moving onto bigger one...Peace!! 1 Like |
Re: Do Nigerian Banks Grant Teenagers Loans? by pjosh1(m): 1:17pm On Aug 18, 2013 |
kayLion: @OP..Nice courage u gat here..thinking of 4million loan but I think its better to start little by little..try find where u can get smaller amount and start with...I know of a microfinance bank (Advans Lafayette) in Ibadan, they grant loans to 18+ and u must have a place of business, and u have to have an idea of ur business for at least 3years..I believe with this 3 years u have gathered enough knowledge from your business and you can pay back the loan easily...As much as I like your Confidence, I think slow and steady wins d race..try your Business idea with little capital before moving onto bigger one...Peace!! Thanks for the reply. The problem is that the business i am wanting to start needs a lot of capital for startup. |
Re: Do Nigerian Banks Grant Teenagers Loans? by vipers: 8:48pm On Aug 18, 2013 |
go 4 ecobank dey go give u d loan sharp sharp d same day wey u come |
Re: Do Nigerian Banks Grant Teenagers Loans? by jbanj4(m): 6:43am On Aug 19, 2013 |
Me too, I'm in need of a loan, I'm 18, and I have a very good business plan, which I have much idea on, I'm a student- higher institution. The range I'm looking at is 500-750thusand. The problem is, I don't know how to go about this... Any help? And oh! I don't have a collateral too.... |
Re: Do Nigerian Banks Grant Teenagers Loans? by baslone: 9:14am On Aug 19, 2013 |
p.josh: 100percent! Talking from experience. When I badly needed the loan, nobody bought the idea without a collateral. I recently just picked up loans from Fidelity and Skye bank without collateral- 9 months financial statement/rollover did the magic. |
Re: Do Nigerian Banks Grant Teenagers Loans? by chuka24(m): 10:43am On Aug 19, 2013 |
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Re: Do Nigerian Banks Grant Teenagers Loans? by Samabu07(m): 10:43pm On Aug 19, 2013 |
Brokenbars: I doubt. they wil giv a lot of conditions that wil make it imposible 4 d teen 2 meet up. a lot of adults are being turned down by banks talk less of teens.The annoying thing is that after turning one down, they go ahead with your plans without you in the plan. Shit happens. |
Re: Do Nigerian Banks Grant Teenagers Loans? by Samabu07(m): 10:44pm On Aug 19, 2013 |
Brokenbars: I doubt. they wil giv a lot of conditions that wil make it imposible 4 d teen 2 meet up. a lot of adults are being turned down by banks talk less of teens.The annoying thing is that after turning one down, they go ahead with your plans without you in the plan. Shit happens. |
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