How and Where to get loan for your business in Nigeria.
Here's a step-by-step guide on how to get a loan in Nigeria for business: Pre-Loan Requirements 1. Business Plan : Develop a comprehensive business plan outlining your business goals, financial projections, and repayment strategy. 2. Register Your Business: Register your business with the Corporate Affairs Commission (CAC) and obtain necessary licenses. 3. Credit Score : Check your credit score with credit bureaus like CRC, XDS, or CreditRegistry. 4. Collateral : Identify assets to use as collateral (e.g., property, equipment, or inventory). Loan Options 1. Commercial Banks : Access Bank, GTBank, First Bank, Zenith Bank, etc. 2. Microfinance Banks : LAPO, Renmoney, Kiakia, etc. 3. Development Finance Institutions : Bank of Industry (BOI), Nigerian Export-Import Bank (NEXIM), etc. 4. Peer-to-Peer Lending : Platforms like Renmoney, Kiakia, etc. 5. Government Intervention Funds: CBN Intervention Funds, MSME Fund, etc. Read: Advantages and Disadvantages of taking loans f...