Been a while, you’d say, but I never abandoned the entrepreneurship quest and I hope you haven’t as well. I’m still a firm believer in Buffetism’s mantra of “not having only a source of income“, especially so for nine-to-fivers like me, and/or you. I have explained severally the need for employees to have a side hustle in older blogs I’ve made on this series, and it would be redundant to once again do so here. Considering the harsh economic realities of our times, it’ll be foolhardy not to even contemplate such now.

Obviously, raising capital for a business, if you like, a side hustle is no mean feat. I have over time shared other means by which nine-to-fivers can do it, from using personal funds and savings, to borrowing or asking for non-refundable financial help from family and friends, to crowd-funding (online and offline), while blacklisting ponzi schemes and other fraudulent get-rich-quick schemes, that inundate and assault our persons per diem. I have kept the next option available to employees this long, because I take it to be the last option any budding entrepreneur should consider, except and unless absolutely necessary.

In Nigeria, it would be easier for a camel to pass through the eye of a needle, than for a young, struggling nine-to-fiver, intent on starting a small business to get a loan from any of the commercial banks available, regardless of what they might show or tell you on 📺 or in 📻 ads and jingles. The advent of Microfinance Banks created an avenue mainly for business people, especially in the informal sector to avail themselves of loans easily, without necessarily catering to the loan/financial needs of nine-to-fivers. That is why when I got wind of what RenMoney was doing in Nigeria, I was impressed, as it appears to be focused on that oft-neglected population of loan seekers, i.e. employees in the formal sector.

Indeed, the system at RenMoney is skewed largely in favour of nine-to-fivers, and small businesses duly registered with the Corporate Affairs Commission, CAC. I must confess that the interest rate could be lower, but the fact that one can easily access loans within forty-eight hours is a huge plus, that is difficult to turn the eye away from. This is one opportunity that any nine-to-fiver willing to start a side hustle shouldn’t miss, but rather seize, and exploit for all its worth. The fact that one can repeatedly apply for loans, once found to be credit worthy, with incentives for repeat loanees, is also another merit of the product, that’s become the highlight, possibly the endearing feature that RenMoney has brought to the Nigerian loan market.

So, without much ado, this is what I’ll ask of you. Call or Whatsapp Emma on 08180041368 (if you’re in Nigeria), to find out the terms and conditions attached to obtaining a loan from RenMoney, and while at it, get the following items ready:
👉 Employment Letter.
👉 Utility Bill.
👉 Six Months Bank Statement.
👉 Valid Worker Identification Card.
👉 Valid Identification (National Id, Drivers Licence, International PassportCard.
👉 One passport Photograph, With Filled Application Form (provided by RenMoney), and once approved, you should be on your way to bringing that side hustle or business idea of yours to fruition this year, while still keeping your job. I would love to hear of your experiences. Mazel Tov!

‘kovich 

 

https://madukovich.wordpress.com/2018/04/11/entrepreneurship-series-xx-loans/

Published by m'khail madukovich