I applied for COVID 19 CBN loan and I got approved for 450k which I have to pay 5% interest in a year (no more). What is your advice please, before I hit this green accept button..

Hint: I'm a website designer/developer (php)

As I have to pay back the money and interest in less than a year (February 2021)

What's your suggestion please

Lalasticlala mynd44

Oga mi understand
how the business works. Cause It's not something you just go into without experience else you waste your
money.

Phone Accessories Business
Farming Business

Bro U shouldn't av applied for a loan when you don't know what business you wanna venture into .. at times when money dey hand and we nvr get plan , spending tinz dey happen before we realize o .. and it will be hard to raise the money back

You mean you didn't decide on what to invest in before applying?
I would suggest you invest in agriculture business. Buying and selling agricultural products.
I'm an IT person too and i will advise you don't invest in that area for now no matter how lucrative and hip it might look because you will struggle to repay the loan. Agriculture business might not look hip and all but it's the fastest way to make profit and still be able to repay the loan on time.
Do your market research well. Good luck.

covid19loan:
I applied for COVID 19 CBN loan and I got approved for 450k which I have to pay 5% interest in a year (no more). What is your advice please, before I hit this green accept button..

Hint: I'm a website designer/developer (php)

As I have to pay back the money and interest in less than a year (February 2021)

What's your suggestion please

Lalasticlala mynd44

You may need to invest in sellable good unless you have savings to add on cause your skill set enables you to work freelance. Could be home electronics, phones, even foodstuffs. Your location could also influence.

abeg
how did you apply for the loan

A lot of nigerians just applied for this loan as if they are dashing them the money. How can you borrow 450k that you will return with interest in one year without having any serious plan or urgent need for it

Temitopemo6e6:
Oga mi understand
how the business works. Cause It's not something you just go into without experience else you waste your
money.

Phone Accessories Business
Farming Business

hahahaha it’s so funny how humans act like champions before the game. If it was a news about someone who squandered his money every one will become motivational speaker on how he could be opened a business or fish farming meanwhile y’all forget that every business requires the skills and experience or what do you think ibo boys act boy-boy for almost a decade for? If business was very easy why is is there a business administration course. Op if you have no business management experience your 450k will become h2O under the bridge within the first year lol

saheedbadmus:
Bro U shouldn't av applied for a loan when you don't know what business you wanna venture into .. at times when money dey hand and we nvr get plan , spending tinz dey happen before we realize o .. and it will be hard to raise the money back

hahahaha even you have deny oo same was Jesus was denied!! It’s better he asked now coz if he had opened the thread after d moni is gone y’all will say why didn’t him start a business. Una must advise am o, nah force this business must kick start with that 450k perhaps we can even make it a round figure for him lol

covid19loan:
I applied for COVID 19 CBN loan and I got approved for 450k which I have to pay 5% interest in a year (no more). What is your advice please, before I hit this green accept button..

Hint: I'm a website designer/developer (php)

As I have to pay back the money and interest in less than a year (February 2021)

What's your suggestion please

Lalasticlala mynd44

Bro am a web/app developer and cyber security expert.... I invest my money with farms... go to farms on instagram and visit their physical locations

I have invested with over 19 Nigerian farms and I get paid as little as 10-40% monthly.

There is no need wasting time, just go on Instagram and find farms like AGROPARK and invest if they have a farm cycle or PIGGYFARMS and many more. Am not a marketer for any of them but I feel if you get as little as 10% monthly you can pay back the loan in 10 months and start counting your way to wealth. God bless you.

covid19loan:
I applied for COVID 19 CBN loan and I got approved for 450k which I have to pay 5% interest in a year (no more). What is your advice please, before I hit this green accept button..

Hint: I'm a website designer/developer (php)

As I have to pay back the money and interest in less than a year (February 2021)

What's your suggestion please

Lalasticlala mynd44

Hello for the sake of others can you explain exactly how you applied?

Did you have to lie at some point?

Documents you dropped?

Collateral and other stuff

So others can apply too?