Welcome to 9jasalary News & Business Blog: N300,000 LOAN REPORT BUSINESS SET UP GUIDE COMPILED BY AFOLABI SEGUN Ceo E-network Business Innovations


Ceo E-network Business Innovations
About The Author:
Afolabi Segun is the Ceo and founder of E-Network Business Innovations (an ICT
business training organization). He's a Young Nigeria E-business Investor, Started His
business online in year 2010 as an Internet Marketer and Later ventured into online
importation business late days of 2010. More than 1000 Nigerians had been trained by
Him on How To legally start a Profitable Business online and offline. Author of business
books and guides (Double profit instead of loss, Information Marketing Business Guide,
A-Z internet Marketing Secret, A-Z importation business Guide. among others)
I love teaching, discovering new stuffs, giving trials to succeed, taking risk on
things, Inspiring people especially young ones like me and helping others to
achieve their goals.
Thanks for purchasing This report on how to get a loan worth 200,000 or more without
collateral, I must congratulate you on taking the step to start a business of your own
The Loan am talking of is issued to you by a Financial institution in Nigeria, includes
bank, but here I will be talking on mortgage banks, I’ve partner, transact with most of
them they are reliable, in this report I will be giving you the list of the one I used and
their office address across.
Mortgage banks are different from commercial banks, or micro finance banks. Mortgage
banks were designed basically for funding small and medium scale business. Any body
can move to them, open an account with them, to enjoy this loan.
A mortgage bank specializes in originating and/or servicing mortgage loans
For example (Resort Savings & Loan Plc, Aso Savings & Loan Plc and so on) these are
example of mortgage banks

Resort Savings And Loans Plc
Mutual Alliance Group
Platinium Savings And Loans Limited
Haggai Mortgage Bank
Safetrust Savings And Loans Limited
Federal Mortgage Bank Of Nigeria Abuja
Dala Building Society Limited – Kano
Trinity Savings And Loans Limited
Aso Savings and Loan Plc
Procedure to Access Loan
I will make use of Resort Savings & Loan Plc as a case study
Below is their office address Nation wide
1. Dolphin Branch
Dolphin plaza, Suite D9,
Dolphin Estate, Ikoyi, Lagos
Tel: 08074304145
2. Ikeja Branch
25, Olowu Street, Ikeja .
Lagos Telephone 08074771599
3. Boyle Street Branch
Resort House 12 Boyle street, Onikan, Lagos.
Telephone 08074304155
4. Lekki Branch
Bakky Plaza Along Km14 Lekki-Epe
Express Way by Bus Stop Agungi, Lagos.
Tel: 08074304142
5. Dopemu Branch
1 & 2 Ojuodo Lane, Ifelodun Street,
Aluminium Village, Dopemu Lagos,
Tel 08074304179
6. Mushin (Ojuwoye Branch)
283 Agege Motor Road. Mushin,
Lagos. Tel 08074304193
7. Abuja Branch
CITEC International Estate,
Mount Pleasant, Mbora District,
Jabi, Airport by pass
Jabi-Abuja F.C.T Tel: 08074303955
8. Abuja Garki
Murg Plaza Opposite UTC
Shopping Complex Area 10, Abuja
Tel: 08074303942
9. Portharcourt Branch
Vicon House
80, Stadium Road,
Opposite Mr Biggs Port Harcourt
Tel: 08074303970
10. Jalingo Branch
Priscilla Nyame Estate
Nyame Garden City, Mile 6
Jalingo, Taraba State
Tel: 08074303888
11. Yola Branch
10 Galadima Aminu Way (Bank Street)
Jimeta, Yola, Adamawa State
Tel: 08074303895
12. Ekiti Branch
72, Secretariat Road
opposites Gtb Plc
Ado Ekiti, Ekiti
Tel: 08074303989
13. Abeokuta Branch
Olusegun Obasanjo Presenditial Library
Presidential Boulevard, Oke Mosan
Abeokuta, Ogun State
Tel: 08074304200
Walk in to the nearest bank closer to you, also note that the process is similar to other
mortgage banks.
1. You will be ask the following document
1. 2 passport
2. opening balance N1,000
3. utility bill (nepa, or water bill0
4. Mode of Identification
2. Your account will be ready within 24 hours,
3. You need to run this account for 60 days, saving upto 20% of the amount you
Will like to borrow, e.g 200,000. Naira, then your savings must amount to
N40,000 or more.
4. Apply for loan, ( SMALL SCALE loan, between N50,000 to N300,000)
5. Pay back within 90 days.
Interest rate is 5% no collateral.
Still same process, but this is called the bigger scale, you need to run your account for 3
month, have a guarantor, and your guarantor must be able to stand with a pay check ,
which shall be returned back when your pay back their money.
1. Prepare Yourself
The first step to starting a small business in Nigeria is to adequately prepare your self.
You may think this is not important but it can be the thin line between success and
failure. Running a business on Nigerian is tough but highly rewarding; so to survive,
you have to be tougher. Nigeria is a harsh terrain to operate in but since we are
Nigerians; I believe we are well grounded to tackle the challenges on ground. Now how
do you prepare yourself?
You can prepare yourself by attending a seminar on the chosen line of business you
wish to venture in and getting all the necessary information about your chosen industry.
You can also prepare yourself by accepting the reality that you can fail tomorrow; you
prepare yourself by increasing your risk bearing capacity. And ultimately, you prepare
yourself by making up your mind to succeed despite the odds and competition.
2. Have a Good Business idea
To successfully start a small business in Nigeria, you must have a good idea. In fact,
any idea or business opportunity will do; except you are pioneering a new invention. I
emphasized that any business opportunity will do because most Nigerians focus solely
on the business idea without knowing that a business idea is just a tip of the iceberg in
the entrepreneurial process of building a business.
A good business idea alone does not guarantee success in business; an average business
idea with good business fundamentals does. The world is filled with brilliant “million
dollar ideas” but the world lack seasoned entrepreneurs. You don’t need to crack your
head to create something new; don’t bother re-inventing the wheel, just find a proven
business line and learn the fundamentals. You can even decide to buy a franchise if the
capital is on ground. Nigeria has the needed population to absorb any product that is
backed by a strong business sense.
3. Do Feasibility study
The third step to starting a small business in Nigeria is to do a thorough feasibility
study before investing a dime in any business opportunity. This is basically where the
failure of most Nigerian entrepreneurs begin. I have seen people invest in a business
idea or opportunity simply because a friend or relative said the business is profitable. I
have seen people jump into an industry blindly in reaction to unverified information. I
know entrepreneurship is all about risk taking but jumping into an industry without an
adequate knowledge of its fundamentals is suicidal. I know this because I am talking
from experience; my dad made this very mistake and he paid dearly for it.
4. Understand your Market
Before jumping into any business or industry; make sure you have thorough
understanding about its fundamental metrics. Every business has an inside secret and if
you must succeed; you must find such secret. Understand the market of the industry
you are going into and you will increase your chances of success. The best way to begin
such is by asking yourself the questions below:
Who are the customers?
How do they want to be served?
Who are your major competitors?
Who is the market leader?
Do you have a chance for survival?
Can you grab some market share in that proposed business industry of yours? These are
the questions you must answer before starting a small business in any industry.
5. Write a simple Business Plan
This is another point where most Nigerians miss it. It is estimated that over 85 percent
of small business owners in Nigeria operate without business plans. While I won’t
criticize them because I started my first business without any business plan; I think it’s
worthwhile you separate yourself from the pack. Since majority business owners are
operating without business plans; why can’t you capitalize on it and make it a
competitive advantage for your business. Banks don’t lend money to businesses that are
operated without business plans but what if you have one? Well, I leave that for you to
Please write a business plan for any business venture you want to undertake. Even if it
is an informal, one page business plan; write it. Your one page business plan may not
get you the bank’s attention but it’s a way forward because it will help you concentrate
on fulfilling your business mission.
6. Find a Good Location
So you want to start a small business in Nigeria? If yes; then where are you going to
locate your business?
Are you going to site your business within your neighborhood or are you going to site
your business in an industrial area?
Are you going to separate yourself from the crowd by building your own brand in a
specially selected location?
Or you are going to operate from the centre of trade or commercial places in Nigeria?
If you intend dealing on general merchandise; then you can consider locating your
business in districts such as Aba, Yaba, Tradefair, Idumota, Lagos Island, Oshodi, Mile
12, etc. But if you are in a service business or you are building a specialized brand; you
can situate in areas such as Ikeja, Allen Avenue, Apapa, VGC, Victoria Island, CMS,
Ikoyi, etc. But wherever you choose to situate, make sure you are well prepared to face
the challenges of that terrain.
7. Obtain the necessary Licenses and Permit
Well, I don’t need to hit much on this. If you don’t want to have the government and its
law enforcement agents on your heels; make sure you obtain the necessary licenses and
permit needed to operate your line of business. Every industry has regulatory bodies
governing it; so be sure to check their operational policy to make sure you are not going
against the law. Also remember that you may need licenses and permits from both the
local, state and federal government. So make sure you factor their costs in your budget.
8. Register your company
Most businesses operate as sole proprietorships in Nigeria; you can choose to go the
same way. But if you are truly out to build a successful business that will stand the test
of time; I will advice you register a business name or factor it in your cost projections
as a short term plan.
You can choose between the sole proprietorship; limited liability or public liability
form of entity. After choosing your business entity, you can get your business name
registered at the Corporate Affairs Commission’s office in Abuja, Alausa Lagos or
anywhere nearest to you. I will advice you go through a lawyer to avoid unnecessary
9. Raise Capital
Before making up your mind to start a small business in Nigeria, I want to assume that
you have the necessary capital to at least launch the business.
10. Start the business
After going through all the processes above; this is where you get down to the real deal,
this is where you start the business. Most people make wonderful plans, do feasibility
research and even raise the needed capital to start a business. But for reasons best
known to them; they just fail to start. Maybe it’s because of the fear of failure; but what
I do know is that not everybody has the guts to start a business. Most can only dream of
it but only few dare to take the risk. Are you willing to take the risk and start your own
business here in Nigeria? Only you can answer that.
Actually, this is where your work as an entrepreneur gets tougher because statistics
reveal that 75% of all new businesses started fail in their first five years. And of the
25% that survived; 80% of them will fail in the next five years. It means that about 90%
of all businesses started will fail in their first ten years. This statistics may be harsh but
it’s the truth in its entirety. Are you prepared to lose it all? If your answer is yes, then
11. Look for Leverage
The fastest way to grow in business is to leverage on the structure of well established
businesses. So if you want to grow; then look for leverage. Leverage can be in the form
of getting a bank loan, getting credit line from suppliers; striking strategic alliance with
a bigger player or getting a contract. No matter what leverage you decide to pursue; go
for it.
12. Survival is the Game
If you can make it to this stage, then it’s congratulations because you’ve just started
your own small business in Nigeria. You have started the game and showed resilience;
now is the time to break it through.
At this stage, survival is the name of the game. You might take some pounding from
stronger competitors; you might make a business mistake or even face intricate
business challenges like a change in government policy but don’t give up. Stay strong
and fight it through, I will see you at the top.
Some Businesses You Can start Small TODAY
1. Poultry Farming
2. Small Scale Importation Business
3. Sale of Furniture
4. Snail Rearing
5. Rice Farming
6. Making of Fruit Juice
7. Oil and Gas Business
8. Fast Food Eatery
9. Dry Cleaning
10. Professional Car wash
Secret to get a loan from a particular bank without
collateral, they will pay you upto 4 million in 12
Yea it’s a secret, it’s called credit card, walk in to any Diamond Bank, open a business
account, remember you need to have your business name certificate, your tin number
your company seal and some other document.
Run your account upto 3 month.
1. To qualify for N250,000 You must have save upto 1 , 1, 1 million in 3 month.
2. For N500,000 2, 2, 2 million
3. For N1 million, 4, 4, 4 million.
You will be called to apply for credit card loan, after 3 month or you can walk in to
request for it, no guarantor, no collateral.
To make your in to in deposit easier, you can split a particular amount of money, or use
the bank account as your major business account so your clients can pay directly to this
account, by this you will be qualify for this loan on time.
Thanks for reading this report
If there is any way you need more information
Ring me on 08133535684
I’m Your business coach
Afolabi Segun

1 comment:

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