Finance24 Comments

Raising startup capital to finance a business idea is not easy and that is why the question “How do I get loan to finance my idea?” is mostly asked by people from all walks of life.

Go to any forum where entrepreneurs are meeting, you will discover that discussions center mainly on how to raise fund for their businesses either in the form of loan or investment.

There is no doubt to the fact that it is sometime hard to come by money to launch a new businesses. In fact, one great hurdle you will have to cross if you are to be in business is raising start- up capital.

There are many problems confronting entrepreneurs, but the major one is how to raise capital.If you have a good and and tested idea, the only thing that can stop you is how to finance such idea and kick it it off ground.

SEE ALSO: How To Get Loan From Microfinance Banks In Nigeria

Nearly everyone in business today has one story or the other to tell about how difficult it was for him or her to get capital to fund their businesses. Nevertheless, one way or the other, some people are getting over the hurdle.Several doors may have been knocked, but the fact is that there are tested and easy to follow steps on what to do to get start-up capital to finance fresh idea or expand an existing business.

Why People Finds It Difficult To Get Loan

Inadequate preparation – many of us find it difficult to raise money to kick start our business because we do not plan ahead. A jouney of a thousand miles begins with a simple step taken forward. It is much easier to accomplish the things you want when you have a well thought out, and executed action plan. Be prudent in your spending and start saving a fractional part of your income now.

Be involve in various saving option available. You need not be a victim of the adage that says a starter expends his first earnings on bread and cake. You  need to be a prudent spender knowing well that the may not last forever.

SEE ALSO: Easy Ways To Collect Service Loan From Microfinance Banks

Infeasible and non-tested idea- having an idea is not enough, testing the idea’s viability to know if the idea will work is the most important thing. Many have lost large sum of money by putting their life  saving on a business idea  that careful evaluation would have shown had no prospect.

Testing the ideas to find out their workability and profitability is necessary so as not to pour your hard-earned money into a project or business before you regrettably discover that the idea is a lame duck. You must obtain the right information before  you venture  into any business.

No wise lender will like to throw his money into Lagoon. Investing in a business that will not yield returns for the investors and the lenders is like throwing many into lagoon.Inability to convince would- be lenders –  another pivot reason why many people find it difficult to get start-up capital is their inability to convince would be lenders of their project viability.

Even if you were surrounded by well to do men with financial muscles, none of them would like to commit a kobo into your idea if the idea is not convincing enough. To convince your would be lenders of your idea  viability, you need to know what lenders want to see and hear. This will later be discussed.

AB Micro Finance

To most people they believe, getting a loan in Nigeria without presenting a collateral or guarantor is not possible. But I want to say congratulations to every one in need of such offer or someone that has been suffering to get started in any business, but due to lack of fund, he or she has been stranded.

The Process of Application For Loan

The process of getting a loan in AB Micro finance is so simple, because the bank is owned by a group of Germans, that does not believe in protocols.

All that you need is to walk into their office situated in 9, Oba Akran Avenue, Ikeja, Lagos and request for the details of how you can get a loan for your business.

The workers will simply bring out the form for the acquisition of the loan and you will fill it under the assistance of the micro finance worker in charge.

Within the next 24 hours, a loan officer will be assigned to you that will come to your shop or office and information like the type of business you do, your weekly or monthly income and some little questions.

Though the banking network covers mainly the Mainland of Lagos State as regards your line of business. So one has to be smart to get a place around Mainland as a contact place for your business.

And within a week after all the normal processes, your loan will be approved.

Features of The Bank

1. Fast and transparent

2. No hidden costs

3. No previous savings required

4. All you need is a running business

Types of Loan

1.       AB Business Flexi

2.       AB Business Plus

3.       AB Business Max

AB micro finance is part and parcel of international micro finance network with other shareholders as

(1)     Access holding (Germany)

(2)     African Development Bank

(3)     KFW (Germany)

(4)     IFC (World bank)

(5)     Impulse (Belgium)

This article was made available by Anonymous

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24 Comments

  • Ibk September 30, 2013

    i went to one of AB micro finance bank along Ikosi road (Ketu) and was told to open an account with then and run the account for a period at lkeast 3 months before i can have access to their loan. A friend of mine reffered me there and told me exactly whats on this blog but when i went, it wasn't really that smooth. actually needed the money for purchase of some products i wanted to supply.
    Many thanks to you Mr. Darlinton for ur blogs.

    Reply

  • Anonymous December 17, 2013

    I’m Mrs Florence,i am from California USA, married, i have been searching for a genuine loan company for the past 2 years and all i got was bunch of scams who made me to trust them and at the end of the day, the took all my money and left me moneyless, all my hope was lost, i got confused and frustrated, i lost my job and find it very difficult to feed my family, i never wanted to do anything with loan companies on net anymore, so i went to borrow some money from a friend, i told her all that happened and she said she can help me, that she knows a loan company that can help me, that she just got a loan from them, she directed me on how to apply for the loan, i did as she told me, i applied, i never believed but i tried and to my surprise i got the loan in 10 hours, i could not believe my eyes, i am happy and rich today and i am thanking God that such loan companies like this still exist upon this fraud stars all over the places, please i will advise everyone out there who are in need of loan to go for Mr hillary william, they will never fails, your life shall change as mine. God bless you all Mrs Florence,

    Reply

    • deji April 10, 2016

      Good day ma i read your story and i’ m really impressed. Please who is Mr Hillary Williem? And how can i meet him?
      Thanks

      Reply

  • Anonymous September 4, 2014

    Sijuade Aderele: Thanks for the hint, I will go and make inquiry from them.

    Reply

  • timileyin odekunle September 27, 2014

    hmm,i cnt believe them

    Reply

  • timileyin odekunle September 27, 2014

    i cnt believe them

    Reply

  • kenny April 5, 2016

    God knows the best, please I need a loan, how do I see the good one?

    Reply

  • deji April 10, 2016

    HI everyone i need a quick loan, please where do i go to.

    Reply

  • Prince m. Otobo May 9, 2016

    I need a loan. I want to build a film industry in edo north. It is very fertile and money back guaranteed. Help me get a loan

    Reply

    • Fred May 29, 2016

      I need a loan of just 500000 so that i can support my farming I’m ready to pay back within 2years

      Reply

  • Abiola May 17, 2016

    pls I need a loan to build and start a local rice proccessing industry in Nigeria,and I need it urgently sir/ma. Pls what can I do to get it within the period of time?. Thanks

    Reply

  • Francis May 21, 2016

    I Want To Go Back To Farming. Pls I Need A Loan Of 500,000 To 1,million Naira. Pls Reply Me Here Is My, Email Account.

    Reply

  • HON BARRY B. RIGAT June 22, 2016

    Gud day, pls i need a loan of #1,000,000.00k to start a business and farming how and were can i go to.thanks

    Reply

  • please i need a loan of 500,000.to start a business in Port-Harcourt,I have search everywhere for this help none is give a positive complying..I believed God can use u people to rise me..am confuse and seriously in need of this help i promise to abide to the roles and regulation in which this policies operate on…I need help please.07032346634…

    Reply

  • Kolawole Sorunke July 21, 2017

    I desperately need a loan to start palm kernel cracking industry.Palm kernel nut is used to produce palm kernel oil and you also have the cake and shells.The cake is used for animal feed and the nuts and shells are in high demand abroad which means they are highly exportable.The fund is required to obtain a high powered cracking machine from Germany and a vehicle to source for palm kernel seeds wherever available.These are going to yield high returns so paying back can not be difficult. Extensive market research has revealed that palm kernel oil is an everyday good used by individuals as well as industries.The market is very huge, sustainable and expanding.Right now there is short fall in the supply of palm kernel nuts. Please contact me on my e mail address.

    Reply

  • sodiq ajao September 10, 2017

    pls am born of farmer from kwara but i decided to quit the job due to lack of capital to suport my farming system, pls i need a loan of #1,000000 to improve my farming to my desire

    Reply

  • Victoria October 27, 2017

    Pls am Victoria from anambra, I need 700000 to add to my pk oil industry

    Reply

  • Okunola Ganiyat November 1, 2017

    pls I need loan of #200,000 to boost my business, I sell drinks & foodstuff in large quantity

    Reply

  • Apeh Ikechukwu November 19, 2017

    Great article I must say. I’ll try any other them and surely update you here if it works

    Reply

  • mr. nathaniel harrison attai November 20, 2017

    pls sir, I need a loan of #1,000,000 to boost my existing transport business in lagos, how can I go about it.

    Reply

  • Raphael March 15, 2018

    Interestingly this is awesome. The only way to finance up coming small scale enterprise is through low interest loans without collaterals and thus most of the institutions you mentioned here have been helpful. Keep up the work.

    Reply

  • Lordwin June 28, 2018

    Good day sir.I need a loan of 1,000,000 to start a transport business in Lagos.How do I go about it and what are the procedures.

    Reply

  • Flavour August 17, 2018

    please I need a loan to start business

    Reply

  • Please i need a loan of 200, 000 to boost my okirika business.

    Reply

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