JUST IN



Sunday, 29 January 2017

Bankers concern on export loans

Bankers concern on export loans
BANKERS’ CONCERNS ON EXPORT LOANS
Here are some questions banks expect you to answer before you apply for export loan:
1.       Have you done this before? How many times? What is your level of experience? It is difficult to give money to someone who has no experience.
2.       Do you have a buyer?

3.       Do you have a payment guarantee?
4.       Are you aware of the risks involved and how do you plan to mitigate them? Export business, like 


any business, carries some risks such as: transportation, fraud at the farm gate, delivery risks, post-shipment risks, documentation risks, etc. Banks would want to know if you are aware of these risks.
5.       Do you have the right quality for the commodity you plan to export?
If a bank is not satisfied with your answer to any of the above questions, it might be difficult to give you the loan assistance you seek.
The best way to raise money for your first export trade is your personal savings. It is your 



commitment to your own business and in the event of a loss, you only lose your own money as opposed to being neck deep in debt.
For your first time, you have better chances with micro-finance banks, cooperative societies and angel investors than commercial banks. There are so many of them. Just look around you or do a simple search on google. This article show you 5 places you can locate angel investors.
There are other options available for you to source capital, like family and friends, partnerships, 


joint venture, etc. Export business is much like any other business. It is very lucrative but it is not a stroll in the park. Read this article to learn how to raise capital to start your business.

Let me know your questions or contributions in the comment box.

Copyright firegain.com
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, rewritten or redistributed in whole or in part without prior express written permission from firegain.com

No comments:

Post a Comment

We love to hear from you!

Sign into the comment box, comment using your gmail account without entering verification text.

If you want to be notified when I reply your comment? Tick the Notify Me box.

any more question call us on phone +2348130676158 or email us using the links ozywin295@gmail.com and blazegain18@gmail.com

THANKS.