Many individuals and businesses have great ideas for new and expansionist business ideas, but they are often incapable of turning their ideas into realities. The major reason which often kill the dreams of Nigerian entrepreneurs is their inability to meet the often stringent requirements of obtaining a bank loan.

However, the fact remains that banks are in the business of making money or preserving their initial capital in the worst-case scenario. Hence, banks use those stringent loan requirements to ensure that they are not pouring money down the drain. Nonetheless, some Nigerian banks have awakened to the reality that some entrepreneurs have only a solid idea and the clothes on their backs; hence, they are willing to offer you loans without collateral.