How do i get a business loan?
Basic Introduction:
Olanrewaju Francis is my name.
I am 35 years. I hold Higher National Diploma in Business Administration and Management.
Am a business man residing in Ibadan the largest city in west Africa.
I am into sport betting business one of the most lucrative business in Nigeria presently.
I have 4 betting shop outlets across the city.
Purpose of the Loan:
I have two strategic location i want to establish before the season commence.
Am in need of funds to execute the project.
Benefits:
It will brings about more opportunities and create more chances for potential punters to be more dependent and liable to their families and social as a whole.
It will create more employments opportunities.
It reduces crime rate in the country.
It gives hope to the minor and everyone that stake.
More also, am into piggery and goat farming.
I hereby apply for a Business Loan of 1million Naira to be remitted with-in 9month duration with interest.
Payment details is as follows:
33,400 per week = 133,600 monthly
133,600 x 9months = 1,202,400.
I will be glad if my application is favorable granted.
Thank you in anticipation!
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Getting a loan to start a new business is never a good idea my brother, no matter how lucrative the business looks like. It will be nice if you don’t fall into the snare of debt. That has ruined many lives – I am speaking from experience.
I will advice you to start with what you have at hand, do for a year or two. Test the water and see how profitable the farming business is. Armed with the data you have acquired from your 1-2 years experience in the business, you then prepare a detailed business plan and approach a lender/investors.
Even if you decide to go for loan at this early stage, I don’t think anyone will be interested to give you a loan to invest in a business you haven’t tried out first. So, as hard as it is, start first before going for a loan if so necessary.
Cheers!
