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About this project

My name is linus itimah, I am in business with a colleagues of mine who own and manage our venture Smartsave micro-thrift investment,collateral free loan will  to reduce unemployment and increase employment opportunities among the teeming youths and traders with me, but we all are Nigerians. We are aware of the bad image of our country especially in the business world, but we are certain that we are the change.

 
Our business involves majorly around lending. We are providing micro loan to traders with daily transaction. Nigeria Banks and micro finance home does not have a functioning commercial organization that reach out to traders.
 
We came in this very time to manage the situation and bring a solution that will be beneficial to both the government and the people.
 
We are looking for a loan/partner/sponsor/ who will come in with this need and we can share the profits or and continue as partners into the future. The Nigerian market is the largest in Africa, there is so much profit in the business in our country.
 

Daily loan :

The loan will be in ranges of NGN 27,000 and NGN 54,000 for a start, interest of 10% payable everyday,for NGN 27,000, NGN 990 daily for 30 days and NGN 120 for the account maintenance and sms alert ,for NGN 54,000,NGN 1,980 daily for 30 days, NGN 120 for the account maintenance and sms alert

Group micro-lending has been used successfully in some parts of the world to expand the reach of microcredit programs. This approach entails forming small informal groups consisting of co-opted members coming from the same background and trusting each other.

 

The Company Currently Provides Fund To Its Clients Through A System Called Group Lending.
With this Model, Clients Are Divided Into Groups. Each Group Has A Leader, And The Funds Is Made Available To Each Group Depending on The number Of Customers in the group.

A Group That Has 10 Members Receive A Loan Of N27,000 Each Bringing The Total Loan Portfolio For The Group To N270,000.00.

Each Member Is Expected To Pay Back a Certain Amount Daily Depending On The Amount Disbursed.
In Cases Of Default, Other Members of The Group Will Pay Back on Behalf Of The Defaulted Member.

A group’s 40 individual, the group can either be a circle of 10,20 or a single group of 40 individuals and a TELLER is assign to every group of 40 for creation of online account power by Smart Teller and  daily collection

Providing affordable capital is a business model that will allow the company to offer reliable financial returns and significant social returns to its investors, while providing a valuable service to its borrowers. "We believe in doing well by doing good."

 

Breakdown

4,000,000%27,000=148 clients

148*2,700=399,600

Teller circle is 40individuals maximum

500*148=74,000

399,600-74,000=325,600

Monthly running costs 40,000

 

325,600-60,000=256,600

Monthly profit 265,600

Yearly profit 3,187,200.

Starting capital 4,000,000+3,187,200=7,187,200.

 

Micro lending Business Proposal For Daily Transactions Traders.

Capacity 148 clients

Year of preparation 2017

Prepared by LINUS ITIMAH

address No22 osagiede Agho Road, off Benin Auchi RD. Benin City, Edo state.

Contact 07034883278 and 07038347564

 

This is our position and we are willing to pursue it.

 Best regards

 

linus itimah







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