Best Tips on Getting a Bank Loan

Fashion home! Getting a bank loan in Nigeria most times could be as difficult as solving a further mathematics equation especially without a calculator; it is tough! But one thing you need to know is that you can actually get it.

My colleague one time shared his story with me on his first American Visa interview. Having gotten all the supposedly required documents, he set out that faithful morning believing that he had met all the requirements, but one thing was missing; “proper packaging’’. Believe me or not life is all about packaging. How best do you present yourself or your request?



The bank is out to make money (this fact must at all times be in your head) and as such, for you to get their money of them, you must make them see it as you creating opportunities to make money off you. Below are a few tips to use in guiding you next request for a bank loan;

1. No Nigeria bank is willing and ready to aid startup businesses; if at all they do, they must see that you have already done all that needs to be and just waiting to cash out. You must be ready to show that you have actually put in a lot of efforts, time and other finances and as such, the little money you need from the bank will help you cash out faster. You should be ready to make them see and understand that with or without their loan, you are at the tail end of rolling in funds. NEVER APPEAR DESPERATE.

2. In as much as life is all about packaging, dressing too heavy or expensive to a bank for a loan request is one of the fastest ways of declining your request by yourself. No bank, nothing a person will want to leave their funds in the hands of a perceived spend freak. It is good to look clean and serious but don’t waste so much efforts in trying to impress with expensive dressing.

3. Have an easily understandable business plan. Trust me on this, most bankers are not so patient. An average banker (especially marketer) has a minimum of ten (10) different targets to meet and most times will rather pay attention to the person that is about bringing in funds. In your quest for loan, have a detailed and yet concise plan for the different stages of your business. Make them develop so much interest even to want to become partners in your business.

4. Commit a contribution. This simply means that you have a need for N100 million, tell the bank you need N100 million for your project (showing them point 3) but then tell them you have N30 million to contribute and as such the bank should give you N70 million.

5. This point is sad but unfortunately, you need a collateral. Banking/bankers are one of the most contradicting people you can ever meet. They will tell you that they are not lending for collateral but cannot lend to you without a collateral. Whatever that means, be ready to pledge something. Depending on the type of loan and the amount involved, the bank is always happy when they see that you are willing to share the risk inherent with them. THEY ARE POOR RISK TAKERS.

6. If you have satisfactorily done all the above mentioned and still don’t get the loan, please feel free to report the case to ibank.

22 comments

Thanks for sharing these great tips here about the bank loans. Your article is very useful for those who interested in taking bank loans to fulfill their needs. If anyone looking for the Cash Loans at the lowest interest rate, visit basicfinance.com.au

You have shared very informative tips here about the bank loans. These tips are very helpful for us. If anyone looking for the working capital loan at the lowest interest rate, Visit anglocape.co.za

Very informative tips for those who are looking to get loan. Get the loans at Fixed Income Securities And Equities to fulfill your financial needs.

Nice article, which you have shared here. Your article is very informative and it resolves many of my doubts about singapore loan company.

You have shared very informative tips here about the bank loans. These tips are very helpful if you want to get Personal Loan Company USA. If anyone looking for the working capital loan at the lowest interest rate

Great job for publishing such a nice article. Your article isn’t only useful but it is additionally really informative. Thank you because you have been willing to share information with us. homeowner loans direct lenders

Great post, please keep on sharing amazing article like this! It makes me happy reading your post. If you are looking for Best Securitization Audit Pricing Online, then mortgageauditsonline.com is made for you. Visit here securitization audit pricing online

This comment has been removed by the author.

It's a nice article, which you have shared here about the bank loan. These tips are very useful for those who are looking for the private lenders for mortgages in Quebec. Thank you so much.

You have shared a nice article here about the bank loans. These tips are very useful for those who are looking for the Small Business Loan Company in Oakland. Thank you for sharing this article here.

Wonderful Message for all which you have shared here about bank loan. This is very informative for those who need this. In the future share this type of informative article here with us. Fixed Home Loan Rates Canada

If you’re visiting a traditional retailer for your mobile recharge needs, you’re going to be solely dependent on the information that retailer provides you about the plans and options. You can use All Recharge Software for a range of services.

I wanted to thank you for this excellent read. we provide loan broker Singapore at affordable interest rate. to know more visit our website.

You have a real ability to write a content that is helpful for us. Thank you for your efforts in sharing such blogs to us. Small Business Loans Online

Valuable post, The article you have written about loans is very beneficial for those who have no knowledge about it and also useful for those who want to know about online personal loan rates. keep sharing this type of info, Thank you.

Nice article, which you have shared here . Your article is very informative and useful for enhancing the knowledge. Thanks for sharing this article here. square one auto

I really appreciate your work which you have shared here about the loan. The article you have shared here is very informative and the points you have mentioned are very helpful. Thank you so much.How To Get A Same Day Payday Loan

I appreciate your efforts which you have put into this article. Genuinely it is a useful article to increase our knowledge.Car Finance Online Application Winnipeg Thanks for share an article like this.

Excellent and informative article. You have good knowledge of the loan. Your article has everything which I want. Loans In Orlando.Good job.

Very good information, this information is very essential, useful and informative which you have shared here. It is very knowledgeable information and beneficial for beginners to develop their knowledge. Thanks once again for sharing it. Best Selling Reverse Mortgage Ebook Guide for Free online

Nice information, You have provided valuable data for us. It is good and informative for everyone. Keep posting always. I am very thankful to you. Free Reverse mortgage In-depth guide online California

I would like to thank you for posting such informative post about Bank Loan. I got some useful knowledge from this post. Thanks for posting it. Keep it up. Auto Financing Winnipeg.


EmoticonEmoticon