Financing a new business or obtaining start-up capital whether you’re a large or small business can sometimes be difficult. Business financing options even for well-established small businesses depending on your credit history may be limited.
Small businesses requiring equipment financing have experienced the frustration of applying for a bank loan. Many banks advertise they are friendly to small businesses, but without tangible security the friendship quickly fades. Furthermore, small business people have found that banks tend to be very time consuming with an almost endless sea of paperwork. After spending sometimes weeks trying to obtain a loan, the bank may simply decline the application. For those businesses that do pass the test, many businesses discover the bank rates are not as “cheap” as they first thought. Not to mention the additional costs incurred such as the business plan for financing and the bank’s application fee.
Obtaining Start Up Capital Through M.I.S.S
Most new businesses have no commercial credit or financial history. Therefore, in order to approve your financing we must rely on the owners of the business and their personal credit and financial history. Assuming the principal(s) of the business have acceptable credit (to us) most transactions will be approved. For larger lease requests we may look for the owners to have some prior industry experience. And if you’ve personally been successful over the years and have accumulated some assets or you have ongoing employment income, feel free to tell us.
Our Small and Medium Enterprise lease targets the following category of clients: Registered or Unregistered economically active persons or businesses with adequate and acceptable cash flow who need lease facility as much as N5, 000,000 to expand their business activities.
BUSINESSES THAT CAN BE FUNDED
– Commercial Transporter: Vehicles; Buses, Cars etc.
– Educational Services such as Schools, Vocational/ skill acquisition Centers and Bookshops.
– Health and Medical Services (Hospitals, Pharmacies, Laboratories).
– Agricultural Value Chain: Fish feeds processing machine, chicken feeds processing Machine, Cassava Peeling and Watering Machine, processors of agricultural products mainly for local consumption, bakery, and confectioneries.
– Professional Services: Medium and Large Laundry Business
– Cooking gas retailers and accessories dealers
– Hospitality Business such as hotels, Restaurant, and spot bar.