geesilver:
but this loan is meant for salary earner only. because I couldn't get a loan with zenith despite banking with them.


or am I missing something here

Depends on the amount you asked for....zenith actually has loan for almost all customers now

Adam09:
This policy is very troubling and not healthy for our fickle economy. I have said it before that there is something wrong with this CBN Governor, You want to force the banks to disburse money to every jack, Oga let me ask you a question?
Shey when is time for repayment , you will also assist the Bank's in recouping depositors funds!

Loan whey bois dey use marry, which is intended for real sector.


DOOMs Day is coming in this country and I am scared for my child.

It is your duty as a banker or account officer to know the state of business of your customer.

There are customers who need this money and can pay back.

Many other customers are just hungry people with broken businesses waiting for a lifeline, which they may refuse to pay back.

I am sure there are three reliable registered credit bureau agency in Nigeria according to information I have from a reputable source; that would help the banks (advantage of BVN). In addition, annual income tax of the applicant that the bank will have to verify from government will be very helpful.

Agugbadin:
This does not make any economic sense, what if you don't have genuine borrowers and the risk involved in lending to wrong persons.

businessnow:
That i do not agree with you,i also bank with GTB and my turn over for a month is half of your turnover and i was able to get 4m in less than 3mins without talking to my account officer and the interest rate is %1.75 even though i did not need it i just wanted to see if there new Quick Credit loan offer works and it does.

Talk to your account officer if you have a cooperate account.

Please tell them more, I'm beneficiary to quick credit. With cooperate account 5m in a minute

AbuMaryam1:



Please tell them more, I'm beneficiary to quick credit. With cooperate account 5m in a minute

Not all accounts o

Trouble!

Commentor:
Watch how so hate-filled cretins would spin this.

I think you, and the people who pay you to keep replaying this nonsense, are the cretins. You will reap this nonsense in your life!

businessnow:
That i do not agree with you,i also bank with GTB and my turn over for a month is half of your turnover and i was able to get 4m in less than 3mins without talking to my account officer and the interest rate is %1.75 even though i did not need it i just wanted to see if there new Quick Credit loan offer works and it does.

Talk to your account officer if you have a cooperate account.

1.75% a day? It sounds very tiny?

That stupid zenith bank denied me loan to start up my biz good for you

https://www.proshareng.com/news/Credit%20Services%20&%20Registry/All-You-Need-To-Know-About-Credit-Bureaus-in-Nigeria-/38833

GloShare:
That's why startups cant grow.

Stingy institutions

Stingy? I hope you know that Banks' lend out OTHER PEOPLE's (primarily Depositors’) funds...
In Nigeria, where you cannot track credit histories and many people don't repay even money borrowed from friends.

Meanwhile, in many advanced economies...
Startups do NOT get their working/debt capital from banks, but from private equity funds and venture capitalists.
>

ASHLAND:
https://www.proshareng.com/news/Credit%20Services%20&%20Registry/All-You-Need-To-Know-About-Credit-Bureaus-in-Nigeria-/38833

We need a customer centred app for this so can take it to the bank and say, "See! I am creditworthy!"

MOSt is this banks are useless all they know how to do it to remove sms alart,atm mentainace this and that,I was once stock to clear my goods and I went to my bank for loan,I was denied,if not for Steling bank my brother I could have lose the goods.they should fine zenith bank 1bn,they are very useless in giving baby out loans to small scale industries.

[quote author=omonla10 post=82817925][/quote]
That's why America is sometimes called God's own country

liohan:
When I tell bigoted people that religion in Nigeria is scam, they don't believe.

Shey you were all shouting Islamic Banking. Islamic Banking!

Imagine Jaiz an Islamic bank refusing to lend money when that's the sole reason it was started .

The problem of most banks isn't that they don't have cash to loan out to customers, the problem is that most customers aren't credit worthy.

Many years ago the church I attend opened a micro finance bank for the sole purpose of lending money to members at a zero interest rate.

You'll be shocked if I tell you that the bank folded up after few years of operations. Reason being that most members who were opportuned to access the loans refused to pay back thereby making it impossible for others to get.

With time, the bank couldn't pay it's staffs and ended up folding up.

So when you see some of these financial institutions finding it difficult to give out loans or making you agree to some ridiculous terms and conditions before accessing the loans, don't blame them...they're only taking those steps to make sure that the cash they're lending you finds its way back to them in a very easy and stress free manner when it's time to pay back.

agarawu23:
No wonder diamond/access bank keeps pushing loan offer to us

is it not better that access bank do not give payday loan,than giving Loan and continue to pilfer your money after payment without alert,organized thiefry

Actually, many of the financial institutions will ask start-up to deposit certain amount of his/her choice to their institution as collateral, then, they will issue you a credit card in the amount deposited and charge interest on the credit card as you use it; meanwhile, you will start having good or bad credit based on your repayment on the card.

9jaRealist:


Stingy? I hope you know that Banks' lend out OTHER PEOPLE's (primarily Depositors) funds...
In Nigeria, where you cannot track credit histories and many people don't repay even money borrowed from friends.

Meanwhile, in many advanced economies...
Startups do NOT get their working/debt capital from banks, but from private equity funds and venture capitalists.
>

ASHLAND:
Actually, many of the financial institutions will ask start-up to deposit certain amount of his/her choice to their institution as collateral, then, they will issue you a credit card in the amount deposited and charge interest on the credit card as you use it; meanwhile, you will start having good or bad credit based on your repayment on the card.

You don’t need to be a startup (or require a bank loan) to get a credit card...
A credit card provides just that - credit! If it’s cash-backed, it’s effectively a DEBIT card.

PS: Btw, would personally never advise anyone to use a credit card for working capital!
>

In short before opening this thread, I looked forward to seeing First Bank and I am glad I saw it.
But shocked about the inclusion of GTB

9jaRealist:


You don’t need to be a startup (or require a bank loan) to get a credit card...
A credit card provides just that - credit! If it’s cash-backed, it’s effectively a DEBIT card.

PS: Btw, would personally never advise anyone to use a credit card for working capital!
>

If you want to fast-track without previous credit history, that is the best; and that is what I did in my case. However, the deposit is like I opened account with the institution but won’t be able to withdraw from the account.

AntiBrutus:


Isn't that what Nigerians have always wanted?

They shouldn't do it on condition that you have your salary account with them.

In abroad, people have easy access to credit.

Commentor:
Watch how so hate-filled cretins would spin this.

You are the one having biased, abused and sentimental mindset. There is nothing to spin anywhere. You should rather purge your mind of the error you have fed it with.

Naughtysite:


It is your duty as a banker or account officer to know the state of business of your customer.

There are customers who need this money and can pay back.

Many other customers are just hungry people with broken businesses waiting for a lifeline, which they may refuse to pay back.

Besides banks should be able to offer clients loan of up to #50 000 at the least. No be say dem no go pay o.

AbuMaryam1:



Please tell them more, I'm beneficiary to quick credit. With cooperate account 5m in a minute

Please how does it work? I need to fire my bank.

9jaRealist:


You don’t need to be a startup (or require a bank loan) to get a credit card...
A credit card provides just that - credit! If it’s cash-backed, it’s effectively a DEBIT card.

PS: Btw, would personally never advise anyone to use a credit card for working capital!
>

What do you mean in your last paragraph?

ezewealth:

If u see requirements for the loan u go just tire. The list is endless

Once you are qualified you get it. The banks tell you even without your application, especially Diamond bank.

We are talking of banks here.


Ecobank is a corporative or something like that

TwoBottles:
Why is Ecobank not on the list??

Only one good news since APC takeover power.

I don't have any pity for these banks. They are so wicked and selfish.

They take money from Nigerians without giving anything back.

Those banks' directors loan the money to themselves, thereby living large at the expenses of banks depositors and shareholders.

It is only in Nigeria where banks CEOs and directors are the richest people in the society.

deltateam:


Please how does it work? I need to fire my bank.

With all honesty I didnt apply for it. One day as I log in into my account I saw a pop up message that ive qualified for a loan up to 5m. Mind you I'm operating cooperate account.

That's why gtbank has paid sound city radio to bombard the airways with quick credit jingles...

Okays,,, time to visit my dear diamond.. Sorry access diamond for some business deal.. If e pass 3.5 % .. I no do

deltateam:

What do you mean in your last paragraph?

As a startup you should ideally be drawing working capital from equity rather than debt...
>

ASHLAND:
If you want to fast-track without previous credit history, that is the best; and that is what I did in my case. However, the deposit is like I opened account with the institution but won’t be able to withdraw from the account.

Unless you’re saying that you can charge the card for more than the amount in the account...

Whatever fanciful term the bank may have dubbed your card, it’s effectively a DEBIT card...
In fact, it’s WORSE than a debit card as you’ll pay interest on the “credit” ostensibly being granted.

Meanwhile, you and your business should be SEPARATE legal persons (with different BVN and TIN numbers)...
Thus, unless you’re providing a personal guarantee for loans to the business, your personal credit history is irrelevant.
>