Where can I get a short term Real Estate Construction Loan to finish off my commercial project in Ikeja? On completion of the project, I intend to offset the loan from the rental income within two years. Please note that I'm based abroad.

Kemisco, I happen to have a new construction real estate project too that needs funding of about N900M and to tell you the truth, I have been sourcing for funds for 6 months now with no luck. No Nigeria bank would give loan to a new project without a solid collateral or security instrument and even the conditions, interest rates and so on attached to loan terms are suicidal and trying to get from abroad is not a Merry Christmas too, if you ask me. I am still on the look-out for foreign investors to partner with on equity, loan or joint venture agreement and truly believe God in his majesty will make a way for me.

The banking and financial systems in Nigeria is not business friendly at the moment and needless to say surprisingly, I was in one of the commercial banks lately and believe you me, the banking officer I held a chat with regarding international funding didn't know what SBLC or BG was and how it works. I had to dust my shoes and left in disarray, with a downcast feeling that probably most Nigerian bankers know little or nothing about international funding, talk-less of providing advisory services in that regard.

If I may suggest, why not speak with one or two investment or venture capital groups over there, depending on where you are at presently. You most likely will stand a better chance if you put a face to the project than applying from Nigeria, since their mind-set is always that deals coming from Nigeria are scams. If perhaps you know or someone knows a net-worthy individual who could put his dough on the table and agree on repayments. I wish I knew any actually. Just a suggestion. Thank you

@Kendaddy
Thanks for your 2cents. I'm actually in the UK. My project won't be attractive to foreign investors because I'm just looking for 15M Naira to complete a 6 units project which has already kicked-off awhile.
But in your own case, 900M Naira is a robust sum to attract an international investor if your financial statement is bullet proof and your business paln is solid. I might be able to give you some hint. Which state is your proposed site, Lagos or Abuja?