Is SME Funding in Nigeria a Fact or Fiction?

I was sourcing for Information on how and where Start up Entreprenurs can get funds to start and grow their business but I was met with very stiff opposition especially from Bankers I talked with, they seem to either know little about Funding Process or Application or most times not interested in such topics

And Above all, an average Nigerian dont believe that one can get a Micro or Macro Credit facility from any Bank in Nigeria



Is SME Funding in Nigeria a Fact or Fiction?

We welcome anyone with Useful Comments/Suggestions or information on this issue

it's a myth to be honest!

"oh go to the bank with your business plan and if its good they'll buy into it" yea right
"the govt approved XXmillions for sme this and that" yes they did but you'll never find it, esp if you a don't know anybody up there

Loans and funding in nigeria are not for starters or hungry people! they are for already established businesses or conected people! Even NGOs in nigeria source for "funds" from foreign organisations


you best bet is to approach individuals

Its even easier for an NGO in nigeria to get funds from international organizations than our government.

Banks will tell u stories, worse they'll buy equity in the business. But its mostly businesses with existing assets.

I beg the situation is frustrating

If its Nigerian govt forget about it . they just talk trash on air. if u want to start a business in our "fatherland" go to individuals . note banks are waste of time