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GOOD MORNING EVERYONE... Please i need advice... On the 11th of this month, i quit my POS Attendant job, the reason i made that decision was because the pay was low for a 7am to 6pm job. And as an extra year student( i defer a semester cos of project fee), i almost miss my seminar defence cos i had no time to concentrate on my studies. Actually, i wanted to work untill end of this month but my madam refuse to give me some days off to do a lot of very important things like certificate verification, practicals so i was forced to quit. My salary was 15k by the way.
So after quitting this job, i used my saving to start a perfume business. But the money is too small, cos i need to order from distributors and if i dont order much at once, waybill charge ll take all my gain.

So i started sourcing for loan, i searched and found an app, fair money. I downloaded this app yesterday, registered and was eligible for a 30k loan but am scared considering the fact that the repayment plan is to short and the interest is on the high side. What do you suggest i do co7 i am practically jobless now!

Loan apps can give you access to money faster than commercial banks although you also need to note the cons therein:

Most ask for for BVN/NIN.
They have access to your contacts.
Interest rate is high.
They will start sending threatening reminders to your contacts in case you default.

Are you ready to deal with that?

Just be careful.

My advice: You can still spool funds from family and friends and make a note of those you borrow from and repay as at when due. You can build trust from there.

take the advice of the guy above me.

THANK U SIRs

Omawumi17:
THANK U SIRs

You don't start a business with a loan. Especially not from loan sharks.

Omawumi17:
THANK U SIRs

you welcome.

JEREMIAH AKADIIRI WITH PHONE NO: 08139355168 IS A CRIMINAL ON THE RUN WITH COMPANY'S MONEY, HE IS WANTED BY CREDIT BUREAU AND WILL BE DEALT WITH.HE'S NOT TO BE TRUSTED WITH ANY FORM OF TRANSACTION, DISTANCE FROM HIM , HE HAS PROVEN TO BE A CRIMINAL.( I just received this from loan sharks with the guys picture and details of loan. This is how they will embarrass u if u no meet up. Don't try it

Miradamian:
JEREMIAH AKADIIRI WITH PHONE NO: 08139355168 IS A CRIMINAL ON THE RUN WITH COMPANY'S MONEY, HE IS WANTED BY CREDIT BUREAU AND WILL BE DEALT WITH.HE'S NOT TO BE TRUSTED WITH ANY FORM OF TRANSACTION, DISTANCE FROM HIM , HE HAS PROVEN TO BE A CRIMINAL.( I just received this from loan sharks with the guys picture and details of loan. This is how they will embarrass u if u no meet up. Don't try it

THANKS MA

no try am

tatutatu:
no try am

THANKS MA

Omawumi17:
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GOOD MORNING EVERYONE... Please i need advice... On the 11th of this month, i quit my POS Attendant job, the reason i made that decision was because the pay was low for a 7am to 6pm job. And as an extra year student( i defer a semester cos of project fee), i almost miss my seminar defence cos i had no time to concentrate on my studies. Actually, i wanted to work untill end of this month but my madam refuse to give me some days off to do a lot of very important things like certificate verification, practicals so i was forced to quit. My salary was 15k by the way.
So after quitting this job, i used my saving to start a perfume business. But the money is too small, cos i need to order from distributors and if i dont order much at once, waybill charge ll take all my gain.

It's never a good idea to start a new business with loans whether from loan app or from banks.

Your best bet is to get funding fom your friends and relations then pay them back under flexible terms

You have to be ready to tighten your belt and work very hard if you want this business to succeed, this is not the time to spend all your money buying the latest or most expensive phone except if that phone is an integral part of the business and will contribute to revenue generation!

Can you do an analysis of your business idea.


I don't mind helping you with consultation on scaling the business and understanding if it would be something successful or not.

The loan is secondary. Is the biz viable those are the questions you should be asking.