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Diamond Bank lists loan conditions for SMEs

By Seyi Ogunbameru

Lagos, Nigeria, 13 March, 2013: Diamond Bank Plc, Nigeria's leading commercial bank has listed requirements that prospective and existing entrepreneurs in the micro, small and medium scale enterprises (MSME) sector of the Nigerian economy should possesses in order to attract loans.

Mr. Chima Nnadozie, Head, MSME Propositions of Diamond Bank disclosed this in Calabar, the Cross River state capital recently while addressing participants at the 28th Diamond BusinessXpress Enterprise Series.

He said for MSMEs to attract loans from the bank, the entrepreneur should have an account with the bank, invest in the business and have a location from which it operates, remarking that collateral security which used to be a big issue in loan consideration and approval was no longer the case.

Mr. Nnadozie said the Diamond BusinessXpress Account (DBXA) is a current account tailored to meet the needs of MSME such as hotels, supermarkets, businessmen, professionals, travel agencies, trading outfits, schools, churches, fast food outlets, restaurants, clubs and entertainment outfits.

He said DBXA account is available in three variants: Starter, growing and established; adding that it was designed to add value to micro, small and medium scale enterprises so that entrepreneurs could grow their business with smart banking.

The features and benefits of the account are zero COT, invitation to business development seminars, fixed monthly fee as low as N1,750, easy access to business loans, personal credit cards and access to a personal website at a discounted price amongst a host of others.

Earlier in a lecture titled “Starting Big with the Minimal”, Mr. John Bassey, chairman/CEO, Habitare Group, a design and building construction firm, listed seven steps to owning a business as: develop a product, package the product, write a business plan, bootstrap the business, moonlighting, get the best help for free and follow the money.

According to him, every great product started as an idea, but not every great idea became a great product, adding that the best product is that which is developed by research.

He defined an entrepreneur as a person who actively form or lead his or her own business and nurture it for growth and prosperity, adding that entrepreneurship is the process of creating something new of value by devoting the necessary time and effort.

He listed some of the qualities of an entrepreneur as initiative, ability see and seize the opportunity, persistence, risk taker, goal setter and goal getter, dedication, networking, driven by excellence, ability to research, planning and self-confidence.

Also speaking, Mr. John Ekpikhe, senior consultant with Mark-George Consultants who made a presentation on business planning explained that before an entrepreneur starts a business, there is need for him to do research on the business and set his goals. He said a business plan was imperative because it is the document that banks and other investors would look at to determine whether to invest in it or not.

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AKINOLA OLAOLUWA | 10/29/2013 9:48:00 AM
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b.O.c jantarmantar | 1/18/2015 8:55:00 PM
Is a very Good Ida
Francis | 1/31/2015 10:45:00 PM
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Justina Peter | 3/22/2015 4:20:00 PM
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Justina Peter | 3/22/2015 4:24:00 PM
I have business ideas, planning to get a restaurant but no money, please help me with lone under any condition I will gladly compromise, 08100090029
Justina Peter | 3/22/2015 4:29:00 PM
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Edidiong | 5/9/2015 9:39:00 AM
Pls How can I loan money from diamond bank, want to start a biz
JUDITH MICHAEL | 11/18/2015 10:40:00 AM
Want a loan for transport business,want to first start with a tricycle,how do i get loan for it? what are the requirements? thanks
dauda ayinde oguntoy | 12/9/2015 7:35:00 PM
I am one of ur customers at diamond bank ljebu ode branch. l ve run my account for some months and l approach ur bank for more funding cos am a business man into cement but ur staff refuse me owin to d fact dt my savings is not upto a million naira.pls what can l do cos l need more funding as in loan.tnx my numba is 08034053986
Abbakar saeed | 2/28/2016 11:18:00 AM
I have an existing businesses which I wish to expanded please help me
Destiny | 3/3/2016 7:40:00 AM
I need a loan for my business,what will I do?
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I need a loan for my business ,what will I do? 08069386553
Sylvia | 3/25/2016 5:58:00 PM
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Akinlabi David Oluwaseyi | 5/26/2016 1:46:00 PM
I need a loan for my poultry farm business
Akeem olakanmi | 6/1/2016 1:27:00 AM
How can I access a loan ,to expand my furniture business .I a business account with your bank. I base in kaduna.
Okey | 7/4/2016 11:38:00 PM
I have cooperate acc wit Diamond bnk i want to go into production of consumables, i need loan to start my production business . Tel. 08103747681.
Shamsuddeen | 7/5/2016 1:22:00 PM
I Need A loan to star a great business.that is selling of eggs. plz i base in kano.nd i am a student of ahmadu bello university,,,faculty of engineering,,,dapertment of water resources and environmental eng.thanks
Karen | 7/12/2016 8:09:00 PM
I need a loan to sale kerosene, do i do,I base in Enugu
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I need a loan to start up a footwear making business
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KALEJAYE OLUSOLA EMMANUEL 08025473388 | 7/24/2016 1:48:00 PM
I WANT TO OPEN DBXA ACCOUNT FOR CORPORATE AND YOUR BANKER SAID IS 250000 FOR THE OPENING AND I DON'T HAVE THE AMOUNT FOR NOW HOW YOU CAN HELP ME...08025473388
olagunju adeola | 7/25/2016 6:14:00 PM
Pleas I need a loan to support my business, I am one of your Costomer at Enugu branch.
Olagunju Adeola | 7/25/2016 6:18:00 PM
Please I need a loan to support my business, I am one of your Costomer at Enugu branch. My phone number is 08032149437.
NNADI KEVIN UZOMA | 7/29/2016 10:47:00 AM
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Michael Oghoghovwe | 8/9/2016 7:02:00 AM
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NNAMDI CHIBUEZE OBIEFULE | 8/30/2016 12:38:00 PM
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OBI christian | 9/14/2016 3:52:00 PM
Ple I need a loan from my bank Diamond to support my Business.
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Musa Muhammad Fagge | 9/21/2016 10:59:00 PM
How can I get a Loan from Diamond Bank when my Salary account is in UBA?
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simon Terkimbi Akase | 10/18/2016 2:21:00 PM
I need a loan for my interlocking business
Blessing Smart | 3/8/2017 4:44:00 PM
Please I need a loan of #500,000 to expand my Business. from Bayelsa State. Diamond Bank is my Bank.
Blessing Smart | 3/8/2017 4:50:00 PM
Here's my number 08135813230 or 09052635959
LAWRENCE AWAJI | 3/18/2017 11:31:00 AM
AS A STATER , CAN DIAMOND BANK HELP ME WITH LOAN TO TO BUY A TRICYCLE?
Hubert O Nwaeke | 3/31/2017 5:05:00 AM
Does Diamond bank support transport business? If yes how can I benefit from it. thanks.
sunusi | 5/25/2017 12:32:00 PM
l need the loan
Sunusi ado | 5/25/2017 12:36:00 PM
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I Need Loan Pl
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Mr Edet James | 9/20/2017 7:09:00 PM
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