Hi Wazuans,
I'd like to setup a business but, obviously, do require capital. My question is that amongst the local banks, who is the most business friendly? Do they require me to have already had a successful business? i am a begginer. I wanted to purchase an isuzu truck(5M) and walked into stanbic who said for such credit, via personal loan, my net has to be 500k. via an existing business, my turnover should be at least 2M per month. These requirements are way too high for me; yet i'd like to do business(buy a truck). Advice please...

loan ya 5m kubuy gari ya biashara is risky may be part of it

Banks and investors do not put their money in ideas. They invest in existing, viable ventures.

At the embryonic stage, best thing is to bootstrap till you at least get some tangible public interest in your biz, then go with concrete evidence of that interest to a bank or investor.

But it's also possible that you haven't listened to anything I've said because you have a 'capital is everything' mindset. In that case, look for your friends and family's money. They're the only ones who'll be willing to burn for your sake

Thanks guys for all the invaluable comments that you have all given. I seem to start "BIG" because the opportunity that i have requires a big lorry upcountry. The returns are handsome coz there are no guys doing that business. I plan to tranport sand or goods within 200km radius. A new isuzu seems a good option. Byheway a 2nd query i would ask is the differences between Isuzu and Mitsubishi Figther. I have quotations from the two and Fighter is higher on price. I have heared people say that Mitsubishi's are better that Isuzus. Anyone to confirm?

Banks are extremely important providers of credit to small businesses. A recent analysis by the Federal Reserve found that banks provided a little over 60 percent of small business credit

It's most difficult to obtain a loan without security. The truck might not be adequate security but if you can raise about 3m worth of security, plus the truck, might be possible.

Why don't you start by hiring a lorry and seeing how that works first?

Then you can evaluate if the business is good.

consider renting a truck with the money you have,then you can asses your ability to pay back the money should you get the anticipated loan, many people go to banks with emotions instead of facts.

....some yard around kariobangi!!!