With the effects of government policies on subsidy removal biting harder on many Nigerians, the ability to raise funds to invest in profitable portfolios is diminishing for quite a lot of people. Because of that, many are resorting to taking loans to either fund personal projects, businesses or even meet their regular needs.

This is compounded by the proliferation of loan sharks through loan Apps and even banks offering loans to people. As a result, many are falling into loan traps that often end up embarrassing them when they cannot meet the repayment obligations.

Are you in need of cash to invest in a property or other portfolios and thinking of taking a loan, pause. There are other alternatives that you can consider to raise funds to buy a property or invest in a portfolio.

Let us share five options with you.

1. Save more through financial discipline: Sometimes, all you need to achieve a financial goal is discipline. Many people lack the financial discipline to save enough to achieve their goals. This means making budgets, sticking to your budget and not dipping into your savings for non-essential purchases. It also means being patient and not selling investments when they go down in value.  It might look difficult to save enough to invest or purchase a property. But with a little assessment, you can discover how your money is spent each month and redirect it to your savings. Set aside some time to review recurring subscriptions and bills, credit cards and non-essential items in your monthly expenses.

2. Look for cheaper alternatives: For everything you want to spend money to buy, there are cheaper alternatives.  If you want to buy a property for example, with a little patience and search, you can find someone who is desperate to sell at a cheaper cost. Same for things as common as groceries or even subscriptions. You cannot imagine how much you can save by simply looking out for good yet cheaper versions of that thing you want to buy.

3. Family and Friends: One area of raising funds that are often less exploited is from family and friends. If you want to buy a property, you can borrow interest-free loans from your family members and friends or even get financial gifts from them. In other words, explore your networks provided you have the goodwill and integrity capital with them.

4. Grants and Subsidies: Explore government grants and subsidies available for entrepreneurs and businesses in Nigeria. Visit official websites, engage with relevant government agencies, and apply for grants or subsidies that align with your investment goals. If you want to invest in a property for example, you can even explore the option of government mortgage which provides low interest loan over a long period of time. Ensure you meet the eligibility criteria and provide a compelling case for why your project deserves funding.

5. Business partnerships and Joint Ventures: Seek out potential business partners or companies interested in collaborating on your investment project. Look for complementary businesses or individuals with aligned goals and negotiate a partnership or joint venture agreement, where both parties contribute funds and resources to the project. In need of professional guidance for your investments or properties, contact us

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