Please, does anyone know a bank that can give a new startup factory a working capital loan of 500,000 Naira? The factory is just NAFDAC approved and need the loan to buy raw materials and start production.

Please mod, help me to push it to front page abeg.

edoman2016:
Please, does anyone know a bank that can give a new startup factory a working capital loan of 500,000 Naira? The factory is just NAFDAC approved and need the loan to buy raw materials and start production.

Please mod, help me to push it to front page abeg.

Presently I think Sterling bank is doing it but they will need your statement of account to know at least how much have been operating on your account so if you have been doing good they will determine how much they can give u

ashantitope:



Presently I think Sterling bank is doing it but they will need your statement of account to know at least how much have been operating on your account so if you have been doing good they will determine how much they can give u

It's a new business that is just about to commence production. But all machinery are installed in the factory and just NAFDAC approved last week. But no money for raw materials to start. I was thinking if a bank can use the project as their collateral to give the 500k loan. Since the value of equipment in the factory is more than 6 million

edoman2016:

It's a new business that is just about to commence production. But all machinery are installed in the factory and just NAFDAC approved last week. But no money for raw materials to start. I was thinking if a bank can use the project as their collateral to give the 500k loan. Since the value of equipment in the factory is more than 6 million

I find it hard to believe a bank you don't have turnover in will give you working capital because of collateral.It does not work like that.
Just see a friend and explain things to him/her.500k shouldn't be a big deal to people around to lend you on seeing that you will be injecting it into something substantial.

Myspecta.com


Or visit any sterling bank close to you

edoman2016:
Please, does anyone know a bank that can give a new startup factory a working capital loan of 500,000 Naira? The factory is just NAFDAC approved and need the loan to buy raw materials and start production.

Please mod, help me to push it to front page abeg.

What is the factory producing ? Have you considered private investors?

oluGodson:


What is the factory producing ? Have you considered private investors?

The factory is producing packaged fruit juice and NAFDAC registered. It is too early to be seeking private investors. It's a distraction for now.

edoman2016:

It's a new business that is just about to commence production. But all machinery are installed in the factory and just NAFDAC approved last week. But no money for raw materials to start. I was thinking if a bank can use the project as their collateral to give the 500k loan. Since the value of equipment in the factory is more than 6 million

Even they don't need any collateral your statement of account is the collateral they need is not by force to be there bank account any bank that you operate that you functioning very well you don't have problem they will ask for you statement from you bank and if they Access it and if it whorth 1m or any amount they will let you immediately

edoman2016:

It's a new business that is just about to commence production. But all machinery are installed in the factory and just NAFDAC approved last week. But no money for raw materials to start. I was thinking if a bank can use the project as their collateral to give the 500k loan. Since the value of equipment in the factory is more than 6 million

Contact chinmark group. They will help you. Search for their page on Facebook