Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian More »

How to export Ginger from Nigeria and Make Huge Profit

How to export Ginger from Nigeria and Make Huge Profit

The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »

Make Millions of Naira through Cashew Export from Nigeria.

Make Millions of Naira through Cashew Export from Nigeria.

The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »

How To Export Smoked CatFish From Nigeria Without Stress

How To Export Smoked CatFish From Nigeria Without Stress

Smoked Catfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian because Nigerians and other Africans there need it to cook their food. More »

How To Start Cocoa Export Business In Nigeria and Make Profit

How To Start Cocoa Export Business In Nigeria and Make Profit

You Too can start exporting Cocoa from Nigeria to buyers in the US, Europe and make up to 20% -30% as profit. More »

How To Export Moringa Seeds and Leaves From Nigeria (Step By Step)

How To Export Moringa Seeds and Leaves From Nigeria (Step By Step)

Pharmaceutical, cosmetics industries and Individuals in China, the US, Germany, Canada, South Korea and European countries are looking for exporters who can supply Moringa seeds and Moringa leaves and get paid handsomely. More »

How To Start Pure water business In Nigeria

How To Start Pure water business In Nigeria

Sachet and bottled water production is one profitable business opportunity in Nigeria that has high return on investment if well managed. More »

How To Start Small Scale Poultry Farm in Nigeria (Feasibility studies)

How To Start Small Scale Poultry Farm in Nigeria (Feasibility studies)

The high demand for chicken meat and eggs has really proven that Poultry farming in Nigeria is indeed a very lucrative business More »

Livestock Feeds Production Business Feasibility Studies

Livestock Feeds Production Business Feasibility Studies

Livestock feeds production is a very profitable business, the demand for animal feeds in ... You can start a small scale livestock feed production in Nigeria More »

Start A Profitable Groundnut Oil Production Business in Nigeria

Start A Profitable Groundnut Oil Production Business in Nigeria

The high demand for groundnut oil nationwide and the short fall in supply due to the ban on the importation of the product by the federal government of Nigeria has thus make Groundnut oil production business very lucrative. More »

Bitter Kola Export Business in Nigeria, Invest N80, 000 & make 100 percent Profits

Bitter Kola Export Business in Nigeria, Invest N80, 000 & make 100 percent Profits

Do you know you can make 100percent profits when you invest just N80, 000 in exporting Bitter kola from Nigeria to Europe, America and Asia countries? More »

 

6 Simple Reasons Banks Won’t Grant Your Business Loan Request

It’s almost impossible these days to keep a small business running with money from your own pocket. To meet up with financial commitments, entrepreneurs usually approach their banks for loans and it is rejected. As such, Jumia Travel, the leading online travel agency shares reasons you may not be granted your business loan request.

Lack of consistent cash flow

Banks tend to favour small and medium-scale businesses that have a steady flow of revenue coming in every month. If your business can’t demonstrate this consistency, your loan request will be denied.
Insufficient collateralTo get a loan, you need a commensurate collateral. This may not be a problem for large businesses that own large assets, but it can very difficult for small businesses.
Personal guarantees

Your bank needs personal guarantees that you won’t default when it comes to servicing your loan. This is a very risky position for enterprises struggling to stay on top of their monthly expenses.
Not enough operating history

Banks give preference to businesses with a track record of good performance. The truth is they don’t want to fund a business that has been operating for a short time and hasn’t sustained a certain amount of success and credibility.
Weakening industry

Operating a small business or startup in an industry that your bank perceives as weak or in fast decline will limit your chances of getting loans from your bank.
Economic concerns

Banks will not lend money to a business if they feel that the current economic conditions are unfavourable for getting the money back in a timely manner. This is simply because they do not want bad debts.

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