• About Us
  • Advertise with Us
  • Contact Us
Friday, August 12, 2022
GoldenNewsNG
No Result
View All Result
  • Home
  • News
    Nigerian Newspaper Headlines & Naija News Today, Tuesday 19 July 2022

    Nigerian Newspaper Headlines & Naija News Today, Friday 12th August 2022

    BBNaija Neo and Jemima Osunde spark dating rumours with loved-up photos

    BBNaija Neo and Jemima Osunde spark dating rumours with loved-up photos

    Zinoleesky ft. Tiwa Savage

    Music + lyrics: Zinoleesky ft. Tiwa Savage – Jaiye Foreign- Download Here

    Check out 3 New Amazing WhatsApp Features and how to use it for free 

    Check out 3 New Amazing WhatsApp Features and how to use it for free 

    Nigerian Newspaper Headlines & Naija News Today, Tuesday 19 July 2022

    Nigerian Newspaper Headlines & Naija News Today, Thursday 11th August 2022

    2023: Bago lambasts critics

    Trending Tags

    • Commentary
    • featured
    • Event
    • Editorial
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology
  • Home
  • News
    Nigerian Newspaper Headlines & Naija News Today, Tuesday 19 July 2022

    Nigerian Newspaper Headlines & Naija News Today, Friday 12th August 2022

    BBNaija Neo and Jemima Osunde spark dating rumours with loved-up photos

    BBNaija Neo and Jemima Osunde spark dating rumours with loved-up photos

    Zinoleesky ft. Tiwa Savage

    Music + lyrics: Zinoleesky ft. Tiwa Savage – Jaiye Foreign- Download Here

    Check out 3 New Amazing WhatsApp Features and how to use it for free 

    Check out 3 New Amazing WhatsApp Features and how to use it for free 

    Nigerian Newspaper Headlines & Naija News Today, Tuesday 19 July 2022

    Nigerian Newspaper Headlines & Naija News Today, Thursday 11th August 2022

    2023: Bago lambasts critics

    Trending Tags

    • Commentary
    • featured
    • Event
    • Editorial
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
Golden News
No Result
View All Result
  • Home
  • News
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology
Home LOAN & INVESTMENT

Top 3 Small Business Loan and Grant in Nigeria for SMEs & Entrepreneurs

Here are the Top 3 Small Business Loan and Grant in Nigeria for SMEs & Entrepreneurs on our page today

Enudi Golden by Enudi Golden
June 26, 2022
in LOAN & INVESTMENT, Featured, Headline
Reading Time: 3 mins read
10 Best Places To Get Grants in Nigeria For Your Business 2021 Easily
10
SHARES
FacebookShareTwitterShareWhatsappShareTelegramShare

Check out the Top 3 Small Business Loan and Grant in Nigeria for SMEs & Entrepreneurs

Getting a business loan is a major hurdle for most small business owners in Nigeria, mainly due to lack of proper credit facilities for small business owners and entrepreneurs in the country. But obtaining outside financing is often necessary to start or grow a business or cover day-to-day expenses, including payroll and inventory.

Although finding, applying for and getting approved for small-business loans can be difficult, the knowledge you have about it the easier it is.

READ ALSO

MBBS Scholarships for International Students 2023

Embassy of UK Scholarships 2023 | British Council Scholarships

Top 3 small business loan and grants programmes in Nigeria

On this article on on Top 3 small business loan and grant, it highlights the key ways, guide and steps you can take to secure a business loan or grant.

Banks and Financial Institutions

Individuals who wish to start their own business but do not have sufficient capital to developing your business can go to the bank or any financial institution to apply for a loan.

Banks and financial institutions provide financial assistance for businesses of all stages. Banks will lend even to a starter, if they are satisfied with the business model, projected returns from the business, the ability to pay back the loan (through business or otherwise), management experience and expertise and other security provided.

Though most bank loans come with a high-interest rate, it is important that you do your homework by comparing various business loan options available for small business by major banks in Nigeria. Before making your mind about which option to go for. Ensure you fully understand the terms of the loan agreement with an assurance that you can pay back within the stipulated duration. 

Governmental Loan / Grant Schemes

Government-sponsored loans are always a preferred choice for smaller and growing businesses as they are more affordable.

Government business loans/grants can help SMEs manage their day-to-day operational expenses, growth and expansion costs and to ramp up their infrastructure. Several banks and financial institutions in Nigeria are working with the government to provide business loans under government-aided funding programs such as YouWin, BOI, N-Power, etc.

Most times, these government-sponsored funds come in form of a grant or loan with little or no interest rate. This makes getting one very difficult because you will have to compete with other business entrepreneurs.

Loan Service Providers

FINTECH has opened its door to quick and easy short-term loans for small businesses and individuals in Nigeria. With major private organisations like Paylater (a subsidiary of OneFi), KiaKia, & Quick Loans taking the lead in providing short-term credit facilities. You can now apply for quick loans online and get paid within 24 hours.

This kind of loan is only provided for a very short period of time (at most 3 to 6 months) and is very limited in terms of how much funding that can be accessed but it could be your safest option in cases where you need quick cash to fulfill a client order or stock your inventory.

The key criteria for approval of any business loan are how profitable the business is and how the borrower will manage to repay. Depending on the lender, you’ll need to submit business documents such as a business plan, bank statements, tax return, legal document etc.

We believe this post on Top 3 small business loan and grant was helpful, kindly share to friends and family using any of the Social Media buttons below this post.

Related Posts

MBBS Scholarships for International Students 2023
Scholarship/ Opportunities

MBBS Scholarships for International Students 2023

Embassy of UK Scholarships 2023 | British Council Scholarships
Scholarship/ Opportunities

Embassy of UK Scholarships 2023 | British Council Scholarships

Nigerian Newspaper Headlines & Naija News Today, Tuesday 19 July 2022
News

Nigerian Newspaper Headlines & Naija News Today, Friday 12th August 2022

BREAKING: Naira Falls To N700/$1 At Black Market
business

Black Market Dollar To Naira Exchange Rate Today 12th August 2022

Latest Npower News For Today Tuesday August 9th 2022
Npower

Latest Npower News For Today Friday August 12th 2022

JAMB 2022 Approves Cut-off Marks For Universities, Polytechnics
Education

Latest 2022 UTME News, JAMB Result News For Today Friday, 12th August 2022

Next Post
NPower News Today | Latest News On Npower Stipend and Physical Verification

NPower News Today | Latest News On Npower Stipend and Physical Verification

Leave a Reply Cancel reply

JUST IN

MBBS Scholarships for International Students 2023

MBBS Scholarships for International Students 2023

Embassy of UK Scholarships 2023 | British Council Scholarships

Embassy of UK Scholarships 2023 | British Council Scholarships

Economy: Anything Else But Restructuring, Living In Denial – Prof Moghalu

2023 Election: Peter Obi Candidacy, A Welcome Dev, Moghalu Finally Supports

2023 Election: Muslim-Muslim Ticket, Shettima VP Unacceptable – Bishop Kukah

2023 Election: Muslim-Muslim Ticket, Shettima VP Unacceptable – Bishop Kukah

Uche Ogbodo Responds To Troll Who Says She Dresses Too Local (Video)

Uche Ogbodo Responds To Troll Who Says She Dresses Too Local (Video)

Stop Dating Broke Women, They Won’t Help You Grow – Writer Solomon Buchi

Stop Dating Broke Women, They Won’t Help You Grow – Writer Solomon Buchi

Envy Is Destroying Our People – Yul Edochie

Envy Is Destroying Our People – Yul Edochie

FG Cannot Intervene In Ekweremadu’s Case On Alleged Organ Harvesting – Malami

FG Cannot Intervene In Ekweremadu’s Case On Alleged Organ Harvesting – Malami

ASUU News Today 11th August 2022

Strike: Our Members Leaving Nigeria In Large Number – ASUU Laments

2023 Election: Rivers State APC Spokesman, Other Defect To PDP

2023 Election: Rivers State APC Spokesman, Other Defect To PDP

Follow us

Categories

  • Biafra
  • business
  • Crime
  • Education
  • Entertainment
  • Featured
  • General Information
  • Headline
  • Health
  • Insurance
  • Jobs
  • Lifestyle
  • LOAN & INVESTMENT
  • News
  • Npower
  • NYSC
  • Opinion
  • Politics
  • Relationship
  • Scholarship/ Opportunities
  • SPONSORED POST / GUEST POST
  • Sports
  • Technology
  • Tour
  • World News

Recent Posts

  • MBBS Scholarships for International Students 2023
  • Embassy of UK Scholarships 2023 | British Council Scholarships
  • 2023 Election: Peter Obi Candidacy, A Welcome Dev, Moghalu Finally Supports
  • 2023 Election: Muslim-Muslim Ticket, Shettima VP Unacceptable – Bishop Kukah

Newsletter

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions

© 2022 Golden News

No Result
View All Result
  • Home
  • News
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology

© 2022 Golden News

YOU WANT LATEST UPDATES?

JOIN OUR TELEGRAM CHANNEL NOW
X