I want to diversify my business and I have about Six Million naira (6,000,000 Naira) in my bank account and I need extra Five Million Naira ( 5 ,000,000 Naira).
I want to approach my bank for a loan but unfortunately I don't have any collateral to secure the 5,000,000 Naira loan needed for the project.
I want to ask the house how I can procure this loan from any bank with my bank statement of account and the business plan.
Thanks

I doubt you will ever get one from a First Generation bank, best advice is to go through a MFB, but first you must have an account running with them for a period of 6months with concurrent transaction activities on the account, if you are sharp in what you do though, there is a way you can convince them about your proposed business plan so as to cut the long period of account activity shorter than required.

Don't try MfB loan... It will run you down

Do it yourself run y0ur current account for 1-3 month with in and out transaction of 4-5m, the bank will call u for facilities, try diamond Bank, StanbicIBTC.

eddiebruk: I doubt you will ever get one from a First Generation bank, best advice is to go through a MFB, but first you must have an account running with them for a period of 6months with concurrent transaction activities on the account, if you are sharp in what you do though, there is a way you can convince them about your proposed business plan so as to cut the long period of account activity shorter than required.

MFB provide a credit facility of 5M?? For real?? Where wuld dey get such liquidity to float

macklef:
MFB provide a credit facility of 5M?? For real?? Where wuld dey get such liquidity to float

I dont know about other MFB, but Amju Unique in warri does...but then you need strong business plan backing.

please visit your nearest Diamond Bank branch. they have non collaterised facilities for msmes

Mr.Sky123:
I want to diversify my business and I have about Six Million naira (6,000,000 Naira) in my bank account and I need extra Five Million Naira ( 5 ,000,000 Naira).
I want to approach my bank for a loan but unfortunately I don't have any collateral to secure the 5,000,000 Naira loan needed for the project.
I want to ask the house how I can procure this loan from any bank with my bank statement of account and the business plan.
Thanks

We can loan you that money, if you fixed the N6million naira with us at 11%. no other collateral will be requested. PM me

@FINMGR,unfortunately,the business I want to invet on will cost me 12,000,000 Naira.So there is no way I can fix the 5,000,000 .
Thanks

Understood!

You will secure that loan when Satan gives his life to Christ

Abeg who get Nokia pin mouth charger

From relatives but definitely not from a bank

FINMGR:
We can loan you that money, if you fixed the N6million naira with us at 11%. no other collateral will be requested. PM me

thank u sir

FINMGR:
We can loan you that money, if you fixed the N6million naira with us at 11%. no other collateral will be requested. PM me

Money doubler alert!

Transact business at your own risk

my dear brother, simply go to JAIZ BANK, in JAIZ bank no: intrest rate so long as your business does not go against islamic business law such as: alcholic business, porkmeat business, prostitution joint/hotel, etc.

imposicant

There is one bridge after the Third roundabout on your way to Ijebu Ode.
When you get there, ask for Baba Nla...great babalawo.
He will ensure you get a loan without collateral!
Yeye.
U want to eat dry fish without spitting out bones!

tjfulloption: my dear brother, simply go to JAIZ BANK, in JAIZ bank no: intrest rate so long as your business does not go against islamic business law such as: alcholic business, porkmeat business, prostitution joint/hotel, etc.

Keep your money to yourself. Wetin concern you with wetin I wan use the money do?

@OP get a good business plan, I mean a comprehensive detailed plan, then pick your pen and list 50 people you will approach it does not matter if you have met them in life or not and also list 12 banks you can approach...Every day make an effort to approach at least 3 individuals on your list and 2 banks on your list.. Thank me later.

pDude: You will secure that loan when Satan gives his life to Christ

Abeg who get Nokia pin mouth charger

nt funny

walk into a DB office nearest to u. they're d best in msme financing n retail lending. i think dey might help u if u do biz wt dem 4 like 3 months. might use ur stock as collateral.

Hmmmmm..

The number u are trying to call is not available at the moment, pls try again later.
Thank you.

Mr.Sky123:
I want to diversify my business and I have about Six Million naira (6,000,000 Naira) in my bank account and I need extra Five Million Naira ( 5 ,000,000 Naira).
I want to approach my bank for a loan but unfortunately I don't have any collateral to secure the 5,000,000 Naira loan needed for the project.
I want to ask the house how I can procure this loan from any bank with my bank statement of account and the business plan.
Thanks

Bro Talk to any Marketer with DiamondBank ..They offer such loans but. For SMEs..Discuss with them ,they can help.I have one with them

You want to get loan without collateral? Simple. JUST PRESENT YOURSELF AS COLLATERAL

Change your name to Dangote, Otedola, Ifeanyi Uba, etc...... Simple

You dont expect the bank to give you a loan without collateral. Or do you have ulterior motives? Work with the 6m you have and be contented. 'See people dey look for 10 thousand, person get 6m e dey complain say e no do am, na wa o!'

jst go to d bank nd show dem ur nairaland i.d card,signed by seun.....nd daz all

Why not rob a bank of N10 million the deposit it in another bank and ask for a loan of N20 million.. oh heck just rob both banks of N20 million each

sbaks: You dont expect the bank to give you a loan without collateral. Or do you have ulterior motives? Work with the 6m you have and be contented. 'See people dey look for 10 thousand, person get 6m e dey complain say e no do am, na wa o!'

a borrower will always be a borrower, you better advice him. Bank eye dey chuck pass that, make he no kukuma lose all at the end of the day, work and you will earn more to 6M.

@ OP, Diamond bank is your best bet pal...but be prepared, you may answer questions and need to prove so many points that you'd feel you're on a hot seat. Good luck anyway!

it's like borrowing someone ur date on prom night without taking their address...... WTF!!!

Banks ? No. Loan Sharks ? Yes.

Loan sharks will give you 5,000,000 with 10% interest per month till repayment date.

Meaning you will be paying 500,000 each month for the 5,000,000 until you are able to pay back the 5m.

No collateral, just recognition.