Top 4 Essential Tips for Securing Your Family's Financial Future

Top 4 Essential Tips for Securing Your Family's Financial Future
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Too many a time people get caught up in the irrelevances of today, while for some others it's getting stuffed with plenty workload at the office and it's too easy to get caught in the net of unavailability.

Many people today make the mistake of working tirelessly and yet miss that flash message of why they need to secure their family's financial future.

It's no wonder their financial future at the moment is flashing red.

Failing to formidably secure your family financially is like walking in the rain without an umbrella or a raincoat on--it leaves you in ruins.

You can't anticipate what happens in your future, but you can plan ahead to save you from some of the worst embarrassing moments.

So what are the key tips for securing your family's financial future?

1.Live Simple

Life today has metamorphosed  into one where virtually everything is technologically done. And when these technologies are temporarily inavailable, it's handicap mode activated. Thus, it becomes difficult to adjust.

Mind you, I'm not against technology or the ever growing stride in its development, but it's time we remember how to appreciate the small things.
We have become accustomed to a lifestyle that requires little or no efforts yet demands a lot from us.
To lessen or avoid any pitfalls in the future, you need to gradually introduce the small, simple things. You need prioritise your needs and live below your means.
You need to start experiencing the life rid of materialistic lust.

2. Set Clear Financial Goals
Grab a seat, sit in a relaxing way. Next, take some time to analyse your current financial state. (including not only your income but also your assets, your debt, and your living expenses) and compare it with what you hope for your family’s future.
Look at where you're now and where you want your family to be. Whatever that is, have you made realistic goals to reach that climb?
You can begin by building an emergency fund. In the past, money experts have suggested stashing away six months of your salary is sufficient enough for those calamitous hours. Albeit I won't disprove this, but it's the size of your family that really determines how many months you need to save upfront.
More numbers means you have to save up beyond six months.
It doesn't mean saving your whole income, all you need do is save in bits.

3. Guard Your Home and Self
When planning for your family's financial future, it is important you protect yourself and your home from shortfalls and the unprecedented such as illness, injury, or premature death, that could jeopardize your family’s financial well being.

This is where you need to consider getting insured. Auto insurance, homeowner's insurance, life insurance, and yes, disability insurance.
Yet, not buying insurances continue to be one of the maladies faced by many families today.
And when some buy, they tend to go for the cheapest policy without looking at what it covers.
So do some research. Insurance companies are notorious for putting the important stuff in the fine print. So read your policy.

Read all of it and make sure you understand what you're buying.

4. Make a Will
If you die without leaving a valid will indicating who owns what, you leave your loved ones in a dangerously insecure position whereby what they receive, how and when they do is determined by powers outside of your and their control.

Don't leave your financial future to chance. Get your affairs in order. Make the first steps today. Start early rather than later.

Top Reasons You Should Make Up Your Mind About Joining Fiverr

Everybody in the blogging ministry must be very familiar with fiverr , you must have heard or read about Fiverr and how it has made life easy for many people. However, what you may not know is that Fiverr is still an unfamiliar place to many people because they don’t grasp the benefits it brings.

Sadly, Nigerians constitute one of those nationalities that are yet to take advantage of freelance as a whole. Other countries know about what they can they can gain from it and are joining freelance sites in droves. For instance, according to a survey conducted by Forbes, freelancers now make up over 35% of US workforce.

READ ALSO:6 Reasons Your Website Is Not Generating Traffic And How To Fix Them

That percentage represents about 55 million Americans. Don’t these people know something that you don’t?

The interesting part of all of these is that the population of people who go freelance does not indicate lesser chances for you. The reason is that the sky is big enough for everyone. In as much as you have a skill that you can sell, you will always find buyers who are willing to pay you for it. And as Nigerians, we are naturally good at anything we give our attention. So, you can be confident that you can earn better than many people from other countries if you give it your best.

Now consider the following reasons why you should join Fiverr.

1. You learn on the job yet get paid for it

Anybody who is a freelancer on Fiverr will agree to this fact. You don’t have to wait till you are perfect before you start selling your skills. As a matter of fact, what will bring you towards perfection is frequent practice of your skill. But what can be better than the fact that you are learning the ropes of the job but you are getting paid for it by different buyers? That’s the beauty of working on Fiverr. Other freelance platforms are not so encouraging to beginners like Fiverr.

2. It’s a cheap way to earn

If you are a worker, you are probably aware that a sizable part of your income goes into expenses surrounding your work such as transportation, dressing, feeding etc. If you go into freelance, you don’t have to worry about spending to ensure you keep earning. Aside your data, freelance costs almost nothing to start or operate!

=>How to Massively Accelerate Your Blog Conversions and Sales Via Awesome Social PROOF

3. You work only on what you can deliver

Any skill you have is an indication that it’s something you enjoy doing. Unlike scenarios where you get tasks that you don’t like; in freelance, you work based on your strengths. You pick a niche that you are comfortable in and then work as though you are having fun. You can as well punctuate work with making phone calls, checking your social media accounts, singing, or doing anything you like. Pure fun!

4. You don’t have to work from 8am-5pm

Who says you have to put in nine hours of work each day before you can make ends meet? Then that person hasn’t heard of Fiverr. As a freelancer on Fiverr, you have a flexible working schedule. Whether you work best at night or during the day is not a problem provided you meet deadlines. You can work from 8am-10am and have a long break only to resume work at 4pm-7pm. This is just an example all freelancers can relate to.

5. It’s a great way to earn full-time

So you are looking for a job and you’re yet to find any? Try Fiverr (after all, it costs nothing!). You can divert the data you use on the social media to an avenue you can earn from while you wait for one of your job applications “to click"...

Content Writer Job opportunity at Blasting News Inc

Job Type
Blog / Article Writing
Company Type


Being part of the largest social news magazine, the 200th most read site in the world, according to Alexa Rank, getting your news out to over 100 million active monthly users. Blasting News has just reached this size 44 months after its launch (growing faster than Facebook, which took 54 months to do the same).
  • Publish high quality news, having the chance to use a variety of formats (written articles, videos).
  • Share and promote the news through social networks to increase the number of the readers.
A variable compensation, up to $1000 per article.
The variable compensation may vary according to a number of factors, such as:
  • Readers reading the article (the more people read the content, the more money you can earn);
  • Type of topics and categories;
  • Source of the readers.
The compensation scheme is fully available on this page
  • Strong knowledge of publishing content on the web.
  • Ability to verify sources and fact-check articles.
  • Passionate about innovative online media paradigms, social journalism and democracy in the information system.
  • Interest and skills in SEO and in social media marketing.
  • Native speaker in English.
  • Job Location: Anywhere.
  • The Blaster is not required to check in at an office.
  • .Working hours: Flexible.
  • The Blaster can work on a flexible basis.
The HR team will evaluate the resume and will follow up with the candidate.
Launched in mid-2013, Blasting News is now the fastest growing global news publisher: the 200th most visited website in the world (Alexa Ranking), counting on 102+ million monthly unique visitors.
Blasting News has offices in London (headquarters), New York, Sao Paulo, Milan, Rome and Singapore.
Blasting News has an ambitious goal: to make our world a better place, giving everyone the possibility of sharing ideas with a global audience and enjoying truly independent information. Blasting News is made by the people, made for the people.
  • 100% Independent - Blasting News encourages a wide range of points of view. All blasters can freely choose the topic and the medium of their contents. Blasting News has adopted George Whitefield’s principle “We’ll just have to agree to disagree.”
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To Apply kindly click here

6 Reasons Your Website Is Not Generating Traffic And How To Fix Them

Over the last few years, generating quality has been a major concern for bloggers and lots of online entrepreneurs. It’s quite hard but 100% possible to drive massive traffic to your website!You probably believe you’ve done everything you think is the best already, from website design to daily content post yet the result says negative.

Obviously something is wrong, this is no brainer!

The billion dollar question is — what are the brain behind the poor traffic generation of your website?
Am quite sure most business owners especially start-ups have asked this question over and over again yet the answer seems to be lost in the wind.

Fortunately for you, Google has directed you to the right place.

In this piece, I‘ll tell you the ultimate possibilities WHY your website is not generating traffic and how to fix them.

Without much ado, here are the top 6 reasons why your website is not driving traffic and how you can fix them.

1st reason: Your SEO is weak:Are you aware that Google is the best open source for generating free traffic?
Getting your website on the first page of Google Search engine is tough but not impossible.
It take steady hard work and obedience to Google guidelines to rank high in Google search engine.
In the words, you need a superb content to begin with.

However, there are other factors that can help you skyrocket your Google ranking suchas;
- creating XML sitemap for you website
- Keywords optimization
- SEO plugin installation and so on

The absence of any of these factors might cause your website to be invisible on Google search by making your SEO appear weak.

Weak SEO will useless your effort to be found when people search for product related to your niche.
The bitter truth is that people hardly go to the second page on Google when they are searching for something.

Personally, when I’m searching for something on Google, once I can’t find what am looking for on the first page, I will enter another keywords instead of going to the next page.
You might even be surprised that most people doesn’t know that other pages aside the first one exist.

How to fix it:Install search console, Google Analytics and an XLM sitemap: these tools are essential in getting your website found by Google.

Google Search Console allows you to monitor your overall search presence.
While Google Analytics allows you to track your website’s traffic.
It is equally useful when you want to confirm your webpage with the Google Search Console formerly called Google Webmaster tool.

And then XML sitemaps makes it possible for Google bots to crawl through your site and of course read your website. You should also consider the installation and configuration of Yoast SEO.

Yoast SEO is known to be the best Wordpress SEO plugin. This plugin will also help
you boost your site SEO and drive traffic to your website.
This plugin is quite simple. Once you install it, use the configuration wizard to guide you
with the setup.

2nd reason: Your content is BoringAs far as blogging is concern, content remains the king in traffic generation.
How do you feel when you crawl through a blog with quality blog posts?

Am sure leaving almost became impossible? Why – the post is fleshy with quality content.
What then can you say about your own posts?

Can visitors get stuck as soon as they get into your site? Or do they jump in, hiss and left?
As long as you continue to write resistible, uninteresting, and boring content, nobody is going to waste his/her time clicking on your blog post.

So to generate traffic and get people stuck in your website, you need to write useful and compelling content, if not, you’re no closer to getting traffic to your website.

How to fix it:First you need to know your onus. What problem are you trying to solve with your website through your content.

Every content must have a target, so what’s yours?

Writing a quality content means understanding your audience and writing to suit their needs.
Find out what their problem is and then render a solution to that problem with a well–researched content ranging from keywords planning to the actual writing. You might consider using tools like Google keyword planner, SEMRush, etc to get exact keywords people are looking for.

Note: before writing a blog post, always place yourself in your audience’ shoes, by doing so, you’ll able to have a solution to their problems.

3rd reason: Your Headlines are Loose and resistible

What attracts you to click on a post?
I usually get attracted once I set my eyes on catchy headlines-I don’t even waste time hitting the click button-why? It’s compelling and irresistible. No one would even bother clicking if your headline is not interesting.

Eyes definitely eat first the before tongue get to taste the food.

So if you’ve spent all your time and energy writing quality content and then drops a boring headline, 90 out 100 people won’t even want to know if the content is superb or not. So headline is as much important as quality content- both go in handy.

How to fix it:You should know what your audience are looking for so you need to know exact keyword or something very close.

Thank goodness, you finally get an awesome keyword.
The next thing is to write something capable of arresting the attention of people looking for such keywords.

Examples of titles: Top 10 ways of getting your website rank no. 1 in Google
 5 best ways to make money on the internet
 How to overtake your competitors and rank no.1 in SEO
 How you can promote your sales to 70% through your website in 2018
Write something that is catchy. However, your titles should be related to your niche.

4th reason: You content lack promotionIt is one thing to write a quality content, and another to promote the content.
Do you just hit the publish button and relax while your content sink and sink until it can’t be found anymore.
As a startup business, you brand may not have been recognized by people-you need to get people to know about the services you offer.

Prospects only clicks links that are visible to them, and yours can only be found if promoted.
Even large businesses also promote their contents.
So your inability to generate enough traffic could be lack of promotion.

How to fix it:This absolutely has nothing to do with budget- in other words, even if you’re running a very tight budget you can as well promote your content and get people to know about your brand-HOW?
Social media marketing- It is free unless you want to subscribe to paid promotion campaign.

Social media (Facebook, Twitter, Instagram, LinkedIn, etc) is one the best ways you can promote your business, content and website as well-this is no brainer.

With good social media management you can get thousands of traffic in a matter of days.
All you need is create social media presence (I would recommend Facebook, Twitter and LinkedIn)
As long as you continue to promote your social media presence, you’ll definitely get visitors running through your website.

Note: You must be socially active to get the expected result.
5th reason: Your website has terrible user experienceThe poor site traffic you complained about could be as result of the terrible and horrible user experience of your website.
If your site is not user-friendly, I bet you won’t have enough traffic-in fact your site visitors will even decrease in number.

Nobody would want to have bad experience when he/she needed to surf for internet for something.
One thing you must know is that man (male and female) by nature is impatient. So if your site is not user friendly then generating traffic going to be almost impossible because people will not visit your site irrespective of your superb content.

Bad user experience will discourage those that wants to read your post.
It is good to have a site that’s user friendly.

How to fix it:When it comes to a user-friendly website, many things are involved.
Poor wed design, poor loading speed and many more.

So you have to modify your website and make it user-friendly, let visitors have the flexibility of navigating through your site without obstructions.

Optimize your website to load faster at least three second load. Optimize the images and videos on your page so that your website won’t spend years loading. No one has time for such terrible experience.

6th reason: Your website is not mobile friendlyYou might be wondering why your site is still not having much clicks. Check if your website is mobile friendly.

With the billions of people surfing the internet through their mobile phone, chances are that you won’t get much traffic. The portability of mobiles phone allows people to surf the internet anywhere and anytime provided there’s internet provider. So if your site in not generating enough traffic, the problem could be from non- friendliness of your

How to fix it:Use some of these tool to check if your website is mobile friendly then optimize your site to be compatible with mobile phones.

Now over to you, what other top reason (s) do you think can cause poor traffic generation of a website?

4 Sources Of Business Ideas You Need to Know

Have you for once envisaged where an entrepreneur comes up with the idea for his/her business? Basically, great sources of business ideas abound. And it is always required to conduct an Effective Business Research before embarking on any business quest.
Observation is one of the best way to identify viable business sources. You must be able to observe the environment in which you live. Think through what you see, hear, smell, touch or feel, and you will see before your eye business opportunities that cannot be seen by an untrained eye.

 “Even if you don’t have the perfect idea to begin with, you can likely adapt.”  –Victoria Ransom.

The benefit of owning your own business can’t be over stressed. A good business idea could be an invention, a new product or service or an original idea or solution. Below are some of the sources of business ideas for start-ups:

The idea can be a need not being satisfied by the market currently. If there is such a need, then a market or business opportunity exists. Unless a business fills a gap it cannot thrive.

Without doubts, there are so many gaps waiting to be filled. Once you have identified a market gap, it is left for you as an entrepreneur to formulate a plan of action to tap the opportunity with a good idea or products.

A new invention can create a good business idea by using a method no one has ever applied before. I believe this is where most young entrepreneurs should spend more time. Although it is not easy to craft and design new products and services. With all the stress and competition already existing, it can be extremely difficult to break into the market and stand out completely. But, I believe starting is the key, even if it’s small.
“There’s nothing wrong with staying small. You can do big things with a small team.” - Jason Fried.

Practically, a franchise business is the partnership between a franchisor who license trademarks and a tested system of doing business, and a franchisee who pays a fee to the franchisor for adopting the business model. Training and often, promotional materials are provided by the franchisor, this has lots of merits and one of them being the limitation of risks. As it is an already operating and proven system, it’s   harder to fail as opposed to when building a complete new business. A franchisee must follow the business model and has little space for creativity or innovation. A Franchise business can also be very expensive to start. So , be prudent when making a decision.

Some direct selling companies operates a multi-level system of sale where a sale person can recruit other sales people, then receive bonuses based on the performance of his/her recruits. This way of selling is called “network marketing” [networking] or “multi-level marketing” (MLM for short), and it account for about a quarter of total direct scales. It works like this: you sell the product to friends and contact. One or two of them might think he/she can sell it to his/her friend and so agree to become a distributor. Recruiting them, you earn bonuses that are dependent on these sales. If those new distributors recruits more people you get a share of their sales bonuses as well.

Whatever your idea is, you have to be sure that it fits your need as an individual, as well as a method no one has ever implemented before.

How to Massively Accelerate Your Blog Conversions and Sales Via Awesome Social PROOF

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I've tried all kinds of things - from graphically designed banners to auto-play videos. But there's been one add-on that was the easiest to do and had the biggest boost in conversions - adding Proof's real time social proof notification!

I ran a split test to see how effective it would be. One page didn't have Proof on it, the other did. That was the only difference and guess what... The page with Proof got x% more leads than the one without it!

Every product I share with my audience I have to full-heartedly believe in. I wouldn't be telling you about Proof if I didn't 100% believe it would help you get more leads and make you more sales online. I talked with the guys at Proof and they are hooking you up with a Free 14-Day Trial.

I'm by no means "techy" and I was still able to install it myself pretty quickly, and if you have any trouble their customer success team is AMAZING.

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Why You Need NordVPN

 Why You Need NordVPN

Due to increased monitoring, tracking and an ever-growing number of cyber threats, demand for VPN services has been growing steadily over recent years. As the importance of data security and privacy for both businesses and individuals is continuing to rise, more and more VPN providers join the cyber security market. As a result, privacy-focused Internet users can now choose from a wide range of available services, varying in speeds, security protocols, pricing and supported platforms.

By sending users’ Internet traffic through an encrypted tunnel, VPNs ensure your browsing activities remain private and safe from snoopers and hackers. Another useful thing about having a VPN is its ability to bypass geographic restrictions allowing you access any content online.

Some VPN providers, such as NordVPN, take basic VPN products to the next level by adding extra layers of functionality and investing in additional security. Among its many features, NordVPN customers can find an ever-growing network of servers, an automatic kill switch in case of unexpected connection interruptions, a double encryption option, and lightweight proxy extensions for Google Chrome and Mozilla Firefox. The fact that NordVPN is based in Panama, which has no mandatory data retention laws, definitely helps this provider to stand out from the crowd.

Pros: Lots of servers, optimized for different needs. 3200+ servers in more than 60 worldwide locations. P2P allowed. Six simultaneous connections. Blocks ads and various online threats. Easy-to-use apps for major operating systems.

Cons: A bit slower than some other VPNs.


Pricing and plans

 A two-year subscription to NordVPN costs $79, which is only $3.29 per month. This is arguably one of the best deals on the market, given all the advanced security features and service reliability. However, if you are not into long-lasting commitments, you can choose monthly billing, which will cost you $11.95 per month. A reasonable compromise between these two is a one-year subscription for $69 ($5.75 per month).

All NordVPN plans include unlimited bandwidth on up to six different devices, so you can secure your smartphone, tablet, laptop and router, protecting all devices on your home network for as low as $3.29 per month. What’s more - NordVPN offers a 30-day money-back guarantee, so you can try it and see if it is the type of service you are looking for.

NordVPN accepts major credit cards, PayPal, anonymous Bitcoin payments, and offers other alternative payment methods processed by their partner, Paymentwall. Once you go to NordVPN’s order page and start following the steps to make a payment for the subscription, you will see all the available payment methods listed down below the subscription plans.

Alternatively, you can purchase a subscription directly through iTunes or Google Play.

NordVPN’s features:

     3276 servers in 60 countries (updated regularly)
     No logs policy
     Up to 6 simultaneous connections
     Automatic kill switch
     Military-grade data encryption
     User-friendly apps for Windows, macOS, iOS, Android
     Proxy extensions for Google Chrome and Mozilla Firefox
     P2P friendly
     Double data encryption for increased anonymity
     Onion Over VPN servers
     Unlimited bandwidth
     24/7 friendly customer support
     Accepts payments via credit card, PayPal, Bitcoin. Other payment methods also available
     Dedicated IPs on request
     CyberSec feature blocks ads and malware-hosting sites
     30-day money-back guarantee

Privacy & security

NordVPN is based in Panama, which means that the company is not legally obliged to collect and save any of their customers’ data. NordVPN accepts payments via Bitcoin and keeps no logs at all, so they would not be able to provide any details about you even if they were asked to.

On top of that, the service is packed with top-end security features, such as DNS leak protection, malware blocking, an automatic killswitch and double VPN, and provides 256-bit AES encryption, allowing even the most security-conscious users to feel thoroughly protected.

NordVPN employs two encryption protocols. OpenVPN with 2048-bit SSL encryption is the default option in NordVPN’s Windows and Android apps. The 3072-bit IKEv2/IPsec is the latest addition to the NordVPN security protocol family, set as default for iOS and macOS. By far it is the most secure protocol, that meets military-grade encryption standards, provides stability and high-performance.


It’s true that using a VPN always affects your connection speed at some level. The only question is: how much? To measure the effect, we used the Ookla speed-testing tool while connected to a Wi-Fi network.

First, we chose the server closest to us geographically. The test showed a rather insignificant drop in the download and upload speeds.

Then we tried connecting to a couple of random European servers, getting rather mixed results, ranging from around 5 Mbps to the record 50.14 Mbps on one of the Swiss servers, which was even higher than the download speed we got with no VPN in use.

As we expected, in the US VPN test the download speed was reduced to approximately 2 Mbps.

However, if you use the Internet for daily browsing, reading the news or checking your email, you probably won’t feel the difference. For those who use a VPN for video streaming or P2P, NordVPN offers a selection of faster servers optimized for these particular activities. Adjusting your encryption level or using a wired connection instead of Wi-Fi can also help increase the VPN speed.

Servers & locations

NordVPN boasts a large server network, which currently includes 2642 servers in 56 countries around the world. Some of these locations include the United States, Canada, Brazil, the United Kingdom, France, Spain, the Netherlands, Sweden, Switzerland, Russia, South Africa, Singapore, and Australia. As far as we see, the company is constantly adding new servers and locations, so the next time you open the app, you will likely find even more options to choose from.

Depending on your needs and preferences, you can choose ultrafast servers for; Double VPN or Onion Over VPN connections for enhanced anonymity; Anti DDoS for staying safe from denial-of-service attacks. Or pick any regular server to hide your IP address, encrypt your communications and to watch your favorite shows online - all NordVPN servers are now optimized for video streaming.

Customer support

NordVPN has a nice-looking and well-designed website, providing all the information you need in one place: product features, pricing plans, available servers, downloads section and, of course - customer support. You can get in touch with NordVPN’s technical support team 24/7 via live chat, email or fill the contact form available online. Their agents respond pretty quick, so you can get your problem solved in no time.

However, if you prefer to find all the answers by yourself, there is also a pretty comprehensive knowledge base, that you will find by clicking Help at the top right of the website.


To wrap up, we are truly impressed with the reliability and efficiency of NordVPN’s services. User-friendly and straightforward enough for beginners, offering a bunch of thought-out features for security-focused users, it is arguably one of the best products on the VPN market.


How to Get a Loan from a Bank

Getting a loan for a proposed business has always been a problem. One of the major reason for this is due to  poor feasibility report from the entrepreneur. Preparing a good feasibility report is undoubtedly a significant steps you should take if you need your bank to  finance your proposed business. 

The same is true if you are planning to expand your existing business. Presenting a good feasibility report to your banker will make a good impression and can facilitate your getting a loan.

General requirement for a bank loan:

Generally, if you need a loan from your bank to help finance an existing or new business, it is most likely your bank will require the following information:

1.      A clear statement of the amount of the loan required
2.      A clear statement of the purpose of the loan
3.      The period or term of the loan
4.      Your feasibility report (if is a new enterprise or expansion of an existing one), plus an authentic financial report of the performance of your business, if is an already existing one.

5.      Your management background and competence. 

The bank is very much interested in learning about your management background, because without competent management background the business will run into trouble and the repayment of the loan becomes difficult.

6.      Your repayment arrangement. The bank will be keenly interested in knowing how you plan to repay the loan. Hence, they will to evaluate your cash flow forecast. Remember the cash flow forecast or cash budget that we talked about in the previous chapter.

7.      Any security you can pledge. Banks in general, and in Nigeria in particular, want all sorts of security. You are advised to find out from your account officer what kind of security will be required before filing your proposal.

Banks generally prefer a security that can be quickly turned into cash. Examples of such securities are Government Bonds, share certificate and insurance policies. Other kinds of securities that can be pledged to a bank are equipment, real estate like building, and your other property of value.
The examples given above do not exhaust the list of securities that can be offered to your bank to enable you obtain a loan for business. Likewise, the list does not exhaust all options open to a borrower in obtaining a loan. 

You may still be able to obtain a loan even without security, if you can get a guarantor acceptable to the bank. Members of your family, friends and relations can also be of assistance in raising loans for you. You can also raise finance through the popular esusu or through thrift and co-operative societies.
It is not likely, however, that any financial institution will be willing to provide more than two-thirds to the cost of your proposed project. In other words, banks and other financiers watch the debt-equity ratio in appropriate cases in deciding whether to approve a loan or deny it.

Why banks insist on high credit standards:
Banks usually require high credit standards in order to be able to get back their money. They do not actually own the monies they lend to borrowers. They give from the monies deposited with them by other customers, meaning that they are entrusted with public money. 

A bank or any other financial institution acting in this capacity of trust must, therefore, jealousy guard the money so entrusted do it, if it must maintain its reputation.

Banks in Nigeria are under the supervision of the central bank of Nigeria. (CBN). Thus, a banker’s decision on a loan application will be influenced by the following factors:

1. Government policy

2. Bank policy

3. Customer’s interest

4. Government policy:

The government regulates the activities of banks in this country through the Banking Act of 1969 and the Banks and other financial institutions Decree of 1991. Apart from regulating, the Government implements the economic and industrial policies of the country. Besides, banks in Nigeria must comply with the relevant provisions of the companies & Allied Matters Decree, 1990 and operate within its framework. In the final analysis, Government is the regulator of the economic and financial system of the country.

Agriculture receives the highest priority, followed by the manufacturing and construction industries. In giving loans, therefore, banks have to reflect Government policy as contained in the Central Bank guidelines. 

This is so because the CBN acts as Government agent in the implementation of Government directives and regulation of the banks.

Bank policy:
Each bank has its guidelines on lending by which it guides its lending department. Such guidelines must, of course, be consistent with the central bank guidelines. Each bank evaluates the loan application, taking into consideration the standing of the customer and his past performance, the purpose and amount of the loan, the period and the source of repayment.

The purpose of the loan must be acceptable and the amount sought must be reasonable. No bank will be willing to finance the whole cost of a project. The borrower must have a stake in the business by also risking his own money in the project. The period by which the money will be repaid must be quite reasonable and the source of repayment must be certain. This is where your feasibility report and the past financial performance of your business become particularly useful. A business should repay its debts out of it profits.

Customer’s interest:
Sometimes a customer may be denied a loan or an advance in his own interest. It is common for a customer to be overly optimistic about the profitability of his project by under-estimating the possible difficulties he might encounter. As a result of these considerations, the banker tries to make sure the loan request is viable and not one that will land the customer in disaster and make repayment difficult or impossible.

Bearing all the preceding considerations in mind the bank subjects your feasibility report to the following appraisals:

1.      Market Analysis or Appraisal

Here he wants to make sure that proper market research was done and that there is a market for your product or service.
2.      Technical Appraisal
Here the banker wants to be sure that the production technology or process is feasible and that adequate technical arrangements have been made to ensure a successful implementation of the project.

3.      Managerial Appraisal
Here the bank tries to satisfy himself that the management team is competent.

4.      Commercial Appraisal
In evaluating the commercial arrangement in your proposal, the bank evaluates your marketing plan to be sure that you have made proper arrangement for the marketing of the product or service, and that adequate arrangement has been made for a steady supply of raw materials relevant.

5.      Financial Appraisal
Under this heading the bank evaluates your financial projections or forecasts, not only to ascertain their accuracy but also to determine the profitability of the project. He also wants to determine whether adequate arrangements have been made for financial the project and that there is a proper balance between debt (borrowed capital ) and equity (owner’s capital).

6.      Economic Appraisal
The bank would also like to determine what contribution your project will be making to the economy in terms of saving foreign exchange and employment generation.

7.      Legal Appraisal
The legal department of the bank would like to make sure that your business is in accordance with the Nigerian law, particularly if it is a joint venture.

You can see from the above the importance of your doing a good feasibility study before submitting your loan application to your banker.

With a good feasibility report, your chances of getting a loan are high if your project is feasible.