Please do anyone have an idea of how to get loan without collateral?

i am sure some of the small banks can help u, but u must have a job, where they can access your salary easily, but be careful, cos their rate is suicidal

@poster

i dont think its possible to obtain a loan without collateral even in a microfinance bank

There are. I think they're called unsecured loans. Your credit must be very very good though.

walk in to any Micro-finance near you

open account with them,maintain atleast

six months of relationship with them.

you are now qualify to any reasonable

amount of fund without colla,

provided you have a good business plan

to present,if you dont know how to write

a business plan,seek my attention.

07040240486

will you like to get one from me? i am a generous Nigerian, but you have

some task to do

U can get a loan without a collateral. It all depends on the way the loan is structured. They bank may want to own equity and make the disbursements to you staggered.
Just have a sound business plan that will ensure money comes in periodically.
Also you may want to consider sponteaneous financing for your raw materials but make sure your business plan is faultless.

Depending on the purpose, amount etc for which you need the loan for, you can always get some funding.

for furthe enquiries mail smylzdigital@gmail.com

twumie:

Please do anyone have an idea of how to get loan without collateral?

In your dreamz. No body wants to part with his money (whether by loan or otherwise) for nothing.

but what would would be interest rates be - esp in Nigeria.

try microfinance banks/ cooperative societies. u may get a loan of not more than 100k without collateral.

Good luck!

@dahcoms,
how?

@Poster

There are about 785 Microfinance banks in Nigeria from my research. Try and approach some of them with a sound business plan. As someone said, you can open an account with them to fulfil all righteousness. However, make sure your business idea is innovative or you might become a failed entrepreneur. The world celebrates uniqueness these days. Cheers.

there is no loan without collateral except u find a charity organisation

C2H5OH:

There are. I think they're called unsecured loans. Your credit must be very very good though.

Does the concept of "good credit" exist in the financial landscape of Nigeria?

there is no such thing as good credit for naija but bad credit dey if u dey owe person

This is interesting.

Who says no such thing
as credit in Naija?!

My Friend Got a N75 Million Naira
Loan recently and didn't have
one dime in collateral!

I'll be glad to tell you how
he did it.

Send a Me a Mail and
I'll give you all the details.

fortsconsult     @      gmail.    com

PS: It's a Valid and True story
so stop winking your nose at
the imposibility!

ForConsult:

This is interesting.

Who says no such thing
as credit in Naija?!

My Friend Got a N17 Million Naira
Loan recently and didn't have
one dime in collateral!

I'll be glad to tell you how
he did it.

Send a Me a Mail and
I'll give you all the details.

forconsult     @      gmail.    com

PS: It's a Valid and True story
so stop winking your nose at
the imposibility!

Your friend is the in-law of the bank manager!

It's possible but all all your information will need to be checked through and through, need to show them your business plan of course, create some kind of business portfolio plus your credit score must be VERY VERY high, God bless.

richyblack pls try and get back to me

YOU CAN TRY THIRD PARTY COLLATERAL;LANDED PROPERTY OR MORTGAGE IN WHICH YOU GET SOMEBODY WHO KNOWS YOU AND CAN VOUCH FOR YOU TO STAND AS A GUARANTOR AND SIGNS A DOCUMENT(AGREEMENT)IN THE EVENT THAT YOU SHOULD DEFAULT THE PROPERTY WILL BE SOLD TO RECOVER THE LOAN AMOUNT INCLUDING INTEREST AND OTHER CHARGES.NOTE THE PROPERTY MUST VALUED BY A RECOGNISED AND APPROVED ESTATE AND PROPERTY VALUER.ALSO THE VALUE OF THE PROPERTY MUST BE MORE THAN WHAT YOU INTEND BORROWING IF NOT NOTHING FOR YOU ALSO NOTE THE VALUATION MUST BE REAL AND NOT INFLATED

I need one too o!

you cannot get a loan from a bank without colleteral, unless you approach a micro finance house being run by people who knows you

we really need to stop raising false hopes THERE IS NO LOAN WITHOUT COLLATERAL even if you decide to float a business proposal u will have access to funds but no loan

ForConsult:

This is interesting.

Who says no such thing
as credit in Naija?!

My Friend Got a N17 Million Naira
Loan recently and didn't have
one dime in collateral!

I'll be glad to tell you how
he did it.

Send a Me a Mail and
I'll give you all the details.

forconsult     @      gmail.    com

PS: It's a Valid and True story
so stop winking your nose at
the imposibility!

no offense meant but this is an UNTRUTH

For a business loan, it is possible to get an unsecured loan, but the business must be an operating business, i.e. not a start up.
Have a business plan with projections to include an executive summary or a CV

Open a current account with your bank and after about 6 months, invite the Manager of the Bank to visit your business, Overall, have a relationship with the bank

Most banks will consider an unsecured loan based on your financial wherewithal. You may want to borrow first with collateral and.or borrow with others that are financially strong, then ask the bank to release the collateral after you have performed on the loan for quite sometime.

Convince the Bank why they should make you the loan, Sales, sales, sales
The interest rates on unsecured loans are way higher than if the loan is secured.

RichyBlacK:

Does the concept of "good credit" exist in the financial landscape of Nigeria?

lol not by any stretch of my imagination. no, i don't think it does.

I think you get loan if you have LPO from a reputable company that the bank trusts, provided you have had good relationship with the bank and they confirm the payment would be deposited in to your account with. You also go the old way, Family and friends.

Guys, stop talking about what you do not know. Quite a number of banks give loans w/out coallteral. I have obtained an STP loan at Spring bank w/ou any collateral on a number of occasion. Likewise, many mfbs give non collateralised loans out daily. Most will just need to see your financial history, or perhaps request that you stay with them for a while so as to assess your financial capabilities.
There are also several loans given out to individuals who earn salaries thru banks, UBA, PHB, FCMB etc, and all these re not based on any collateral

Naija has moved up since, if u do not know, pls ask for road

You could rob a bank.

@Olivetree, may be you think only landed property is collateral, no bank gives loan that is ultimately risky, at least not now that they are written, billions due to their deed and misdeed in recent past. Salary backed loan collateralized in a way by your employer's consent and awareness  that your salary acct would not be moved from their bank. You are also made to agree that your entitlements would be paid to the bank in case of separation before their money is fully paid. In case your calculated gratuity is not up to the amount you are borrowing you pay some percentages insure the loan, what do you call that.