Five myths about Personal Loans.

Five myths about Personal Loans.

A personal loan is especially a sum of money that is expected to be paid back with interest.
A personal loan provides funding for individuals and business owners and can be repaid in installments and can be used for any purpose such as business, start up ideas ,building projects etc
There are many false myths associated with personal loans, and this makes individuals refrain from applying for them.
Let’s look at some of these misconceptions regarding personal loans.
Here are some false reasons borrowers refrain from loans.
1. Only banks give Loans:
Many Borrowers believe that only banks and financial institutions give loans, however Loans are not only credited by banks but by other empowering institutions such as Chinmark Group.
 #ChinmarkLoans has created flexible repayment plans for individuals and businesses who are willing to take advantage of her loan services.
2. All loans have high interest rate.
Another false belief that makes borrowers avoid loans is that they believe, all loans attract high interest rate.
Repayment of loans has been made easy,
At #ChinmarkLoans you have the opportunity to enjoy the lowest interest rates on our loan facilities.
3. Loans involve long procedures
People tend to believe that loans take a very long time to process and involves complicated procedures. The truth is, personal loans can actually have a quick approval cycle, with the right documentation and evaluation process.
At #ChinmarkLoans, our loan process and approval is convenient and smooth. From loan application to approval,  once all documents have been submitted and verified, you can be sure of a credit disbursement in hours.
4. Those with existing loans are not eligible for personal loan
If you have an existing loan that you are servicing, you can qualify for another loan, as long as you meet up to the requirements of the lender.
You can apply for a new loan with ChinmarkLoans even when you have an existing loan, provided you meet the eligibility criterion, you can be guaranteed a financial support for your business or project.
5. Borrowers don’t get credited the amount they requested
This is another false reason why personal loans are not embraced, borrowers believe their requested amount may not be credited by the lender, some people also believe the amount of funding they need may be too much for the lender to provide.
At ChinmarkLoans, we encourage applicants to apply for the financial assistance they  need, and once all documents and verification checks out, the borrower is credited according to his request.
Applying for a loan is really that simple.
To apply for a facility with us at Chinmark Group,  all you have to do is fill in a short application form to answer some personal questions and submit your Collateral documents for verification and evaluation.
Acceptable Collateral are Landed properties, Buildings or Vehicle.
so we can determine how we can help you. Decisions are made quickly and
Swift procedure is guaranteed.
If you make your monthly repayments and pay off the loan on time, it will end up improving your credit score, and financial integrity with us at Chinmark Group.
Why haven’t you taken a loan with #ChinmarkLoans ?
Reach out to us and let’s guide you directly on how you can secure your future through the financial opportunities we offer.


  • Am a private school teacher and it as not been easy, I need loan to start drinks business in my area.
    Thank you

  • I am a fashion designer looking for a loan to start up my own, I hope to get it here

  • I need a loan to start up my auto base car paint business, I sell and mix all colors of auto base car paint and it’s accessories .
    Have been working for someone since so I think is time to be a shop and business owner myself and I wish I will able to fulfill this through chinmark . Thanks 🙏

    • I would like to invest and also am looking to buy a house, am
      Hoping i het both here

  • I’ve heard of how good you are and I hope to meet you someday

    • I really need this loan. I’ve tried applying for a loan from different sites but after filling their online form and the long process they end up giving me the maximum loan option of 5k. It’s really frustrating. I need enough money to support my business. At least 20k and above. Thank you sir. I’ll definitely pay back on time.

  • I need a loan to enable me start food stuff business for now.

  • Good evening. I will like a personal loan. I deal in food stuff. May I know the payment modalities and plan and interest rate?

  • Please I’m a fashion designer I need loan to start my own

  • Am a Student and training my self and two sisters has not been easy, and I need a Loan to start Supplements online and in school, also girls foot wears in school I just wish it’s possible. But my challenge is that I don’t have any landed property I would have used as a collateral… Any chances for people like me?

  • I want to apply for personal loan.

  • Please I need a loan for my business, Internet business and phone accessories and phones.

  • Please I need a loan to start my own business

  • Pls am interested in the loan but I based at asaba Delta State .
    Am I qualified for it. thanks

  • Good afternoon sir/ma I am promise amachukwu the C.E.O of promax paints..
    We want to apply to CHINMARK GROUP to ask ur company to consider promax paints as one of the best paints to be using on ur house projects and promise to give you durable paints at affordable prices.
    We hopefully waiting to hear from you.

    Thanks for your maximum co-operation
    Promax paints company
    08033723830/ 08022072151

  • My name is Uko Kalu Uko I lost my job early this year January 3rd worked in a bank and we were just asked to resign without no just course and since then have been trying to start something especially in agriculture either Fishery or Piggery, I have the land two plots but my major issue is funding. I don’t mind to the modalities of access a loan for your organization.

  • Please I need a loan 50,000 to stock add to my provision store, I promise to pay back within six months.

    Thank you sir.

  • My name is Christopher Nweke, Am into block production and precast but the business needs money to strive now,so I need a loan

  • Hello!
    I am delighted to write to you for enquiries about the different requirements for your loans.
    I don’t have some of the items required but I have some relatives that are civil servants and that will be willing to guaranty my integrity. I want to know if that criteria is sufficient fo r me to apply for the loan.
    Thank you.

  • I need a loan , what ar the procedures. Pls reply via mail.

  • I need a loan to enable me invest in Agriculture

  • Need a loan of 100- 150k.

  • Please I need loan for my already existing bookshop pls how do I go about it

  • I have to understand that with all these reasons people run away from taking up loans or applying for one,you guys don’t give loans without collateral.
    Loans in Nigeria are meant for certain group of people and that’s how it is.

    There are many who have brand new ideas but no fund,then you request for these items: Landed property,and or vehicles as collateral. What about those who don’t have the aforementioned requirements? Maybe,you guys can look into such group of people too.


  • I want to know if you help complete building for individuals? If yes what is the method of repayment.

  • I am into event planning and catering services I need a loan to equipt my business for a better service.

  • Pls I need loan for expansion of my business

  • I am into printing and I need a loan to start a my own company.

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