Good day Nairalanders. Please I want to start a business online but I don't have any money. This is because I have a health issue that hasn't enabled me to save. I need a loan and I would be able to pay back. Please I need your advice and suggestions

Don't start a business with bank loans.

Raise funds from friends, family, or co investors. Let them take up equity

Only child and no friends. It's an internet business and it's a sure one. I will be able to pay back

DisLifeSha:
Only child and no friends. It's an internet business and it's a sure one. I will be able to pay back

What business.

E-commerce

Elxandre:

What business.

DisLifeSha:
Only child and no friends. It's an internet business and it's a sure one. I will be able to pay back

I can understand your being an only child but having no friends you can call on is an indication of a serious character flaw on your part.

Besides that the fact that you have not been able to save even a small proportions of the capital for the business is a red flag!

The problem here is that I have Type 1 Diabetes and all the menial jobs I've been doing for years now has been used to fund the expensive drugs I take to survive on a daily basis. This drug is called Humulin 70/30 100iu.

The only business that can help me well is an Internet Marketing business. Type 1 Diabetes is a money spinner. And am not from a rich family

SavageResponse:


I can understand your being an only child but having no friends you can call on is an indication of a serious character flaw on your part.

Besides that the fact that you have not been able to save even a small proportions of the capital for the business is a red flag!

DisLifeSha:
The problem here is that I have Type 1 Diabetes and all the menial jobs I've been doing for years now has been used to fund the expensive drugs I take to survive on a daily basis. This drug is called Humulin 70/30 100iu.

The only business that can help me well is an Internet Marketing business. Type 1 Diabetes is a money spinner. And am not from a rich family

I can understand your health challenge and I sympathise with you however you must also bear in mind that banks are in business to make profit therefore before they give a loan they will properly weigh their options. If there is any indication that the loan may not be paid back the bank will not grant the loan.

This is the hard truth!

For a new business the best form of initial capital is usually personal savings and soft loans from family and friends.

No family members wey get o. My mom is the only child of her mother too

SavageResponse:


I can understand your health challenge and I sympathise with you however you must also bear in mind that banks are in business to make profit therefore before they give a loan they will properly weigh their options. If there is any indication that the loan may not be paid back the bank will not grant the loan.

This is the hard truth!

For a new business the best form of initial capital is usually personal savings and soft loans from family and friends.