Category Archives: DIAMOND

Diamond Bank is one of the leading banks in Nigeria – driven by innovation and operating on the most advanced banking technology platform in the market.

Conditions for lending to SMEs unveiled by Diamond Bank

Conditions for lending to SMEs unveiled by Diamond Bank

DIAMOND Bank Plc has given insight into one of the requirements commercial banks consider before granting loan to Small and Medium Enterprises (SMEs) in the country.

Njideka Esomeju, Head Emerging Market, Diamond Bank Plc, gave the insight in her presentation on ‘Growth Financing for SMEs,’ delivered recently at the Vconnect and Facebook SME conference in Lagos.

She said: “I found out that so many business operators dwells so much on cash flow. I don’t think cash flow is the challenge for SMEs; rather it is your cash cycle that is a challenge.

Cash cycle is that your banker wants to know how you would turn N5 to N50; what you are going to do, your production cost, how you are going to sell, the market you are going to sell and at the end of the day, you make N50; you can give your banker N2 for debt servicing. So you need to understand your cash cycle. Cash cycle is not the same as cash flow that an accountant prepares for you. You should be able to explain that cash cycle to your banker in your own words.”

According to Esomeju, another thing is that for a banker to accept to fund your business, he is interested in the value your business would add to the economy, in terms of job creation. “So, whatever business you are doing, you need to get your house in order by understanding the nature of the business, understand your customers and being able to communicate with your banker,” she said.

On financing options other than bank loans, she noted: “Basically, we talked about equity financing and debt financing. SMEs can raise share capital through family and friends. This should be your first point of call- also we have angel investors, venture capitals and incubators. It is very important to explore all these options than to borrow from banks. Most times, their services are cheaper.

The whole thing is, for start-ups, I would never advise that you borrow from bank. I would advise you do family and friends option, so that you are not saddled with debt financing when the business has not been firmly established.”


Capital, Capital, Capital! That’s all I need to just start….

It’s safe to say that we can all relate.


Kemi is the most talented girl you’ll ever meet. She’s a designer, make-up pro and even recently she picked an interest in bead making. Her designs are one of a kind. With all these talents, Kemi works as a junior staff in a mid-size IT company in Lagos and earns the sum of 98,000 naira, every month. Like that is not enough, she has to send half of the salary to her mother back home and her siblings in school.

Half of the time, Kemi is daydreaming about starting her own business but the light at the end of the tunnel doesn’t seem so bright.

On one of her many boring days, Kemi settled down to enjoy her dose of daydream. This time It didn’t last. This is because she was startled by an old classmate who snapped her back into reality. They exchanged pleasantries then this old classmate asked the almighty question, “What do you do now?’ Kemi almost took to her heels. How could she admit that this was her one and only job? It took a while, but finally she found her voice and responded thus,‘Well this is my job for now. I’m trying to source for funds to start my own business.”

To her surprise, the old classmate was impressed and probed further. The old classmate didn’t just praise Kemi’s many skills, she shared details of some enticing offers Kemi could jump on, to get a loan. The one that stuck with Kemi was the Personal Loan offered by Diamond bank. Fortunately, Kemi’s salary is paid through Diamond Bank by her employer.  To cut the long story short, Kemi got her loan and started her business. She hasn’t quit her job yet but now she puts her free time into good use, and is making some extra cool cash.  

Did you know that Diamond bank is offering 2% discount on interest rates to any woman that collects a loan in this month of March? This is just one of Diamond banks exciting deals, lined up specially for the ladies this month. Are you excited already, click  to learn more about the Personal Loan.


The reason for Private Banking Group is to create, maximize and protect wealth, as well as preserve value for select clientele of reputable high net-worth individuals with established wealth and easily identifiable sources and means.

The hallmark of this business segment is the use of dedicated staff who provide tailored products and service offerings based on a comprehensive understanding of each client’s financial requirements.

The Group has multi-skilled and well-motivated relationship managers who will deliver private services that will exceed client expectations.

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