What happens when a Nigeria Fashion Store gets new loan!

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Published on May 4, 2018 by

BattaBox finds out what happens when a Lagos fashion store gets a new loan to expand!

“We want every Nigerian to be able to walk and buy something if they want and need it,” says Uchechukwu Abiakam, a beneficiary of the Lagos State Employment Trust Fund. “I don’t want people thinking their salary cannot afford it.”

“I applied and in three months, they came to view the business, then an interview, and then it was all sorted,” explains Uchechukwu. “The emotion was disbelief that I could get such a loan so easily, and it’s 5-6% so if you have a business plan you will pay it back.”

ADANN fashion and accessories, making affordable and well made in Nigeria fashion wares. After the received the loan, they increased their product range, expanded more stores from 7 to 16 outlets, and hired more staff from 10 to 20 people directly.

The Lagos State in Nigeria is setting up a new fund to to tackle unemployment in Africa’s biggest Mega-City.

The aim of LSETF is not just to grant loans to potential businesses, but to build capacity and ensure they are running sustainable businesses that obey the law. The Lagos state government believes, when a business meets these requirements, they give themselves the best opportunity to grow sustainably. 

“The most important thing is about impact. We want to ensure that businesses have the right tools to succeed and grow, and therefore employ people,” explains Akin Oyebode, the Executive Secretary of the Lagos State Employment Trust Fund.

You can find out how to get loans to fund your made in Nigeria products and other business by the Lagos State Employment Trust Fund. Visit their website or office to learn about the requirement to bring your MADE IN NIGERIA business/idea to reality.

You can also be part of the initiative by going to any of your local Lagos councils, or head to www.lsetf.ng

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18 Comments

  • Precious Egbukwu 6 years ago

    Please where is this store located

    Reply
  • Obuks 6 years ago

    You guys are an inspiration! Well done

    Reply
  • Winzjay Se 6 years ago

    Nice 1 👍👍👍

    Reply
  • THE AMERICAN INVESTOR SHOW 6 years ago

    Guys seriously think about living in Nigeria. I was there last summer and Im going back in July. I was living like a KING on just $4000 a month. There was practically nothing I couldnt do. I even had a maid who cooked all my food, cleaned my clothes..everything. Africa is the life for real!

    Reply
    • buddy holland 6 years ago

      U NEED PROZAC FAST.

      Reply
    • Victoria Adeyemi 6 years ago

      buddy maybe he was living a luxury lifestyle.

      Reply
    • Tajudeen Adedotun 6 years ago

      $4000 seems too much..you must have stayed in somewhere like bannana island

      Reply
    • buddy holland 6 years ago

      AHAAHAH no place in nigeria is worth 4000 a month anyway..

      Reply
    • Maurice Watkins 5 years ago

      THE AMERICAN INVESTOR SHOW you could’ve lived like a king on even less

      Reply
  • IfyLove 6 years ago

    Where is the store located?

    Reply
    • Victoria Adeyemi 6 years ago

      circle and novare mall

      Reply
  • buddy holland 6 years ago

    WILL SHE JUST STICK TO NIGERIA , OTHER COUTRIES HAVE ENUF.

    Reply
  • brick gana 6 years ago

    First of all. Folly is pretty asf and on the behalf of Nigeria I wanna thank this lady for her work I mean Nigeria it’s bout time for real!. Let’s support our own thing👊🏾

    Reply
    • buddy holland 5 years ago

      SHE IS IMPRESSIVE..

      Reply
  • om mishra 6 years ago

    Nameste from india

    Reply
  • Tajudeen Adedotun 6 years ago

    it’s all nice and sweet now until they start asking for money back…good luck

    Reply
    • Maurice Watkins 5 years ago

      Tajudeen Adedotun I mean, it is a loan.

      Reply
  • Victoria johnson 6 years ago

    My name is Mrs. Victoria Johnson, i’m from Ohio, Columbus, USA. I will like to share my little experience to those seeking for a loan.
    Few years ago after I lost my husband in a fatal car accident, I never knew my husband was owing lot of money and as well from the bank. My life and that if my kids were threatened as I was forced to sell off all our properties just to pay off his debts and bank had to lay claim to others as collateral for the loan collected by my husband.
    Myself and my kids became stranded and low in cash, it was difficult getting money to feed them. I sourced for help but to no avail. I cried alone with my kids almost every night as we don’t have a dollar to our name.
    Fortunately for me after some years, I met with a friend of mine and she introduced me to this private loan company called WORLD CREDIT FUNDS. At first i was so scared of collecting a loan cause I never knew how it will be easy for me to pay back and with the debts my husband is owing as well.
    She helped me through it and to my greatest surprise, I was granted a loan of $50,000.00 at 2% interest rate with a duration of 7 years to pay back. The money was sent 24 hours after completing the loan terms.
    I am so grateful to God and to WORLD CREDIT FUNDS, for helping me and now I have been able to sort my husband’s debts and I now own a business of my own without pressure on me from anybody or the loan company. All I do is to make sure I pay monthly as agreed.
    You can feel free to reach them via email: [email protected]
    You can reach the customer care agent on WhatsApp or Call : +1 (631) 857-8905
    I promised to share the good work of God in my life to people and help guild anyone who intends getting a loan.
    You can reach me via: [email protected] for more info and guild.
    Believe you will be glad you did and they are always willing to help.
    God bless you

    Reply