Lions Shocked By Student Loan-Sharking Business | Lions Den Nigeria

[@alexlouis9424]

3 Things to consider before starting a business: 1. You must be solving a problem. There must be an existing problem you are solving or a need you're meeting. And there must be a demand for what you have to offer. 2. It must be scaleable. It must be able to grow beyond borders and boundaries. 3. You must be investable. Have a thorough knowledge of your business, know the laws surrounding the practice/industry, know what licenses you need to acquire to make it legal, understand your market, competitors and your usp (what makes you stand out). And be able to demonstrate a working knowledge of what you're doing, enough to convince potential investors.

[@opeserah7225]

One thing I love about this series is the constructive criticism from these wonderful Lions .. If he can jot all he was criticized for down and work on it , he’ll do better next time

[@simeonfgs]

"Is this not illegal?" I died😂😂😂😂😂

[@edoziengwu]

I love this show. It's a miracle that we get to watch this online.

[@Nkemnwagbara001]

This guy is going back to fight his graphic designer 😂

[@xervasong1474]

The graphic designer is done

[@gamingvirtualworldmultigam3557]

@nkem 🤣😂😁😃

[@dorcasorieh2336]

🤣

[@ropephilips7046]

😂🤣😂

[@onifadetaiwoemmanuel]

O dear!!! One graphic designer down!!! What a shipwreck...

[@fehimika]

Men! How did I miss this show on TV? It's well put together and educative. I love it❤️ Big thanks to the organizers, Lions and the guy running commentaries.

[@akintoyeakinsoladunamis5031]

For me Better watching this over and over than BBN

[@fehimika]

@@akintoyeakinsoladunamis5031 Absolutely.

[@preciousfires5088]

Lol.... Paul won't kill me, the way he slides in sarcasm. Talmabout ogun license covering you for every other place. Plus, the entrepreneurs facial expressions .....i laughed throughout this. But I wish them good luck. Kyari and Paul seem to play the same card on this show....

[@cynthiamoregbuniwe1803]

🤣🤣🤣🤣🤣🤣 shipmick on its way to become a shipwreck 😂😂

[@kingSway2d]

The Ogun State ministry of home affairs and tourism issued a license to financial institution?😮😂

[@davidrotimi]

WhatsApp? - That was the first red flag. Then not even spelling your business name well/not spelling enterprise correctly, I'm honestly speechless lol

[@phoenixtv8257]

Like WhatsApp ???

[@popsonjaiyesimi7670]

The whole episode is representation of Nigeria scenario and lots of banks are almost running on this scale. I thank the Lions that are calm and constructive in thorough taking these guys tru their calamity of over confidence 👏

[@johnabel2168]

⁰

[@joseph_oluwayomi]

I whispered Jesus when I saw the spelling of enterprise… I felt embarrassed 😞 for them. They aren’t ready. Not organized, too obvious mistake, probably they’ve not even had more than a few clients. Just 1 defaulter in a student environment, I doubt it. Same interest rate for any duration, this makes me think are they really running the business. There are lots of loan apps to model after or learn from. 30% is really high in a student environment, lots of better rates in the market. I’ve applied for a grant too with a vague business idea before, I was rejected but I learnt my lessons. I hope they learn from this if they really want to do business.

[@popsonjaiyesimi7670]

They are keen and very sharp taking advantage of the needies. No one will dare default the company. They are mafia coming for their share of the cake.

[@mcleotyrese2]

They both look like all these WhatsApp Yahoo boys.

[@bolaowoade]

I have watched the UK's Dragon's Den and I can this is definitely better. These dragons are very gracious and respectful. They also give a lot of great advice. If the guys going into the den can listen to what the dragons are saying they will learn a lot to move forward.

[@phoenixtv8257]

Like for real

[@taofikabass93]

Lol... Ideas presented here can't be compared to UK's lion den but the lions here are very gracious.

[@johnnyboy8147]

@@taofikabass93 The ideas presented here are tailored to solve problems in Nigeria. Why should they be the same as those in Europe?

[@abiolaolusegun.o]

STEPHMIC… SHIPMICK… SHIPWRECK But RICE still dey😃😁

[@morkporkporborniface2797]

😀😀😀😀😀😀😀😀

[@TheIyke4real]

😂😂

[@kingSway2d]

"Giving out money at a very high price and cannot spell enterprise" 😂. Bukar Kyari is a wrap.

[@franklinajaps7170]

I would have loved to hear their repsonse to questions around how they handle sitiuations where students default on loans.

[@asondubuisi5807]

The accountant will have a query after this

[@TheIyke4real]

😂😂😂

[@Hrhcoolshegs]

How did they get past the screening? Now that I have finished watching this episode, I have so many questions.

[@ayotundeoladipupo]

I think it takes boldness and courage to think you have a "business" to present before people like this... So kudos to them for daring... However, like Bolaji said... They are ill-equipped...

[@tourghanatv8423]

How can you give out over 300 loans and have only one default , especially with students? It doesn’t add up honestly

[@phyllisnkirote2753]

I love lion's den nigeria. I honestly watch it, because the investors give very good advice on business that you'll never learn in school.

[@princehardeyx5983]

😂 this guy is sacking the accountant when he get home

[@atio5491]

What’s your WACC. “We don’t know. We’ve kept things simple and the business just grew out of our hands. We didn’t do all the critical thinking or calculations at the start”.

[@PreciousJonah-w4r]

Lol🥲

[@PreciousJonah-w4r]

Lol😅

[@samuelegbayelo2631]

Graphic designer be running for his life😂😂😂

[@TheIyke4real]

😂😂😂

[@opeserah7225]

One thing I love about this series is the constructive criticism from these wonderful Lions .. If he can jot all he was criticized for down and work on it , he’ll do better next time ! Even if they failed this time, I hope they won’t be discouraged.. I hope they’ll fail forward instead

[@tolulopeajayi5857]

This designer go collect wotowoto 😂😂😂😂😂😂

[@kennethogbuisi9225]

I felt embarrassed watching this but then kudos to them for at least trying

[@byve]

They get no Kudos for jumping in blind into a lions Den.

[@taiwoabodunrin8000]

This is so embarrassing

[@oghenekparoboonokwakpor3051]

Doubt if that accountant is really an accountant, dude was the one who would have killed this, if he knew the numbers

[@preferjacker5369]

Exactly

[@Xtjiggzs]

Lol

[@kayusyussuf]

He probably was an excort

[@giovannajennifer6526]

I think he's still a student in accountancy

[@sundaynto3742]

A Shipmick on it's way to shipwreck! Gawd!

[@TheIyke4real]

😂😂😂

[@Tobidorcas]

Hmm, I would say welldone to the guys. But, please keep pushing and don't be discouraged! It takes a great courage to go out there!

[@prettsmedia]

Keep pushing you say for running an illegal business

[@oluwafunbiadewoyin_oex]

Ahahahahaha. Wetin be this? This Kyari eh! 🤣🤣🤣🤣🤣 Enterprise or Enterprice

[@SeunMaiye]

Graphics Designers also contributed to the ruining of this pitch 😂 😂 Beyond this, this is an illegal business and would probably be clamped down in no time.

[@johnayanyemi]

Nah, if you are serious about your business, you'd always make sure things are in order before shipping

[@SeunMaiye]

@@johnayanyemi Absolutely true

[@dorcasorieh2336]

Seriously

[@senne-ayamelvin4492]

Or they probably spelt it wrong for the designer

[@theigbotruth]

These are the scammers that spam whatsapp groups with 'Invest N20,000 and get N50,000 in 1 week'. Bloody thieves. LOL

[@abdullahzaki5763]

These are modern Sherlocks, legal authorities should take action against them.

[@mrbennett]

Shylocks.

[@akinakin4920]

When he mentioned conducting the business on Whatsapp, I knew this was not going to end well. Whatsapp for Christ sake. Can somebody help me with what the 'accountant' did in this pitch?

[@SINGFORJOY20]

He had one hand casually in his pocket lol

[@udonnambaji5298]

@@SINGFORJOY20 Two hands in two pockets actually.

[@SINGFORJOY20]

@@udonnambaji5298 😂😂Wow, for a whole business pitch. We definitely need to do and be better.

[@forexgeek1806]

This will kill his graphic designer😂😂😂😂

[@Chestalo-j8v]

Graphic designer is dead😂😂😂😂😂

[@abdulraheemolowoabdulrahee2959]

Many questions beg for answers. Didn't they check the graphics?

[@chibuezeedurumaraihe5343]

I'm super sure that banner design was a free job.

[@olumideadebayo1629]

Kudos to these guys............. I won't be surprised seeing these guys becoming trillionaire in future............ Although there was unpreparedness, I tell you rejections like these are often big catapults for some.....

[@dotsovertonesinging]

To be honest, they are not prepared enough. At least get someone to double check

[@thesower6577]

True. I mean, what’s the percentage of 400 level students in Nigeria that can take this kind of bold step. They might not have been successful now, but they’re definitely on a path towards it

[@investorsoft2356]

Graphics designer shop for don close by now 😂😂😂

[@Seeportharcourt]

😂😂😂 the funniest so far tbh

[@shantrexexperience6693]

Ministry of home affairs and tourism in Ogun State gave you licence to lend money, inukwam? God abeg oooo

[@AbuBakr1]

Please how do one participate in this

[@giovannajennifer6526]

What TV chanmels shows this program in real time

[@coks4486]

It would be difficult to have a WACC for this business though, finding out the cost of equity would be difficult for a startup. Lol.

[@ernesto8273]

Na this ones run all those WhatsApp ponzi schemes. Kwari came prepared for them

[@only1.sensei]

The graphic designer suppose collect 😅😅😅 his going straight to his house

[@oyeze]

Lol. Na these loan sharks suppose give the lions money sef.

[@afrobeatswithelixir8497]

Graphics designer in trouble

[@gabeonyeka4729]

I was embarrassed for them

[@joshuagbamwuan1174]

Thoroughly

[@izzu_100]

Me too. I felt so sorry for them but the Lions were absolutely right. I had to pause the video several times to mourn them. I totally don't support people doing things with money as the only end goal. They might have said they were helping students but because they thought about all the money to stand to gain they didn't adequately write a plan or even a strategy. Imagine valuing the business at 50 million naira

[@LMSTRADINGHUB]

The graphics designer made some error

[@yawmonte7707]

If you don’t pay back, they will beat u up

[@Officialchike_]

😂😂

[@kabirusani4411]

Ohh! 🤣😂 That graphic designer is dead.

[@Christopher53787]

Their business idea is a good one, but there are better ways to present it and measures to put into place to prevent default... and his accountant... well, I guess the dude hasn't graduated yet, so probably haven't gotten to the part where they learn how to calculate different cost of capital.

[@armstrongtamaestro3158]

Yeah WACC....if you don't know you don't know. Period!

[@sheilaneba668]

Mr accountant😅😅😅

[@giovannajennifer6526]

Enterprise vs Enterprice oh no Eh no go better for who printed that banner

[@Dr_Mind]

These dudes were not serious at all 😂😂😂😂

[@therealayodeji]

One year later Nigeria turns to student loan shark

[@dammyoshodi4279]

How will you not check your banner

[@johnogundele3651]

This is horrendous!

[@mcleotyrese2]

This is the funniest video I've watched on KZbin this year. Made for a huge comic relief. They both look like upcoming Yahoo boys, who are just honing their skills on Whatsapp. Poor grasp of the business and inordinate pitching. Like seriously, there's no business there. Nigerian students are the worst target to give out loans to. Aside from the issue of profiling and ascertaining genuineness of intent, there really is no serious leverage they can have. Kyari Buker is savage King 🤣🤣🤣.

[@tiktoklounge979]

If they had their numbers, interest payment because of inflation, website to access and verify their students, legalise their business. They should have a proper business models! I am sure the lions will invest because loan shark business is a big one!

[@EGBUOKPOROGodfrey]

What's the criteria for pitching? are these ideas scrutinize before invitation?

[@akinlonutobi6278]

What's the fun in that ..... its a show

[@adedaremayowa1347]

As in!!@!

[@BILLIONAIREGH]

They mix it up For entertainment

[@fegodaniels6459]

Lol the show needs entertainment. Not every one should come in correct. We need businesses and pitches like this to make us laugh.

[@albertsigodwane1303]

He will kill his designer as soon as he see him 😅

[@philipleke248]

This accountant be standing like a PES referee

[@aliyuauwal7297]

I am interested please how can I get your office please

[@starli2423]

They were not just prepared

[@debsicus]

Shame dey catch me 😭😭

[@isaac-stephensonkungu4346]

kudos to them for coming this far, though they did not get a bid they will learn some lessons and thanks to their mistakes i learnt a lot t😄

[@KSuave-um9yq]

Bolaji Balogun is such a gentleman.

[@OG.Entertainment]

🤣🤣🤣🤣🤣 wtf...that proposal is a good example of beautiful nonsense, this guy go fight the graphic designer o😅😅😅🤣🤣🤣

[@atosgraphix]

I think their problem is not understand the meaning of some terms in Business 😂… the English was too much for them 🤣

[@olumideoresegun5245]

Do they wish to Graduate? Operating students only business will keep them in sch for many years.

[@georgemawuliquist6201]

This guy certainly has a bone to pick with his graphic designer. He must refund all his money for such a poor job done.

[@dstri1]

Correct spelling = "hentaprieyes" 🤣

[@Christopher53787]

Omo the graphic designer go hear am 😅😅😅

[@samuelegbayelo2631]

Lol...they think it's an I.T school presentation

[@tesstrader5908]

Misspelled Enterprise

[@strend2833]

If Bolaji is out first it's almost impossible for any other Lion to invest.

[@debsthedoctor]

Yep! His analysis is impeccable.

[@skitsrecaps8414]

Wow 💔

[@RapidFlix]

The moment they said 30% regardless of the time duration i lost it. Plus you should do your due dilligence in any field you are going into. AN IDEA IS NOT A BUSINESS. you need to test your IDEA and bring proof of performance before you seek investments. Plus their graphic designer no try at all.

[@thebibletalesTV]

Omo!

[@adegbileemmanuel]

This shipwreck obviously lo😅

[@poshderyy2021]

Enterprise

[@pixelarc1381]

Ah ah.. inadequate preparation

[@jayjayden5549]

🤣🤣😂😂😂🤣🤣🤣🤣😂😂🤣🤣🤣 please he should go into the spelling business rather the loan business. Shipwreck and enterprise

[@kennyomodara]

embarrassingly incompetent

[@dstri1]

Cheap meek to shipwreck 🤣🤣🤣

[@kelechinweke4295]

Quite embarrassed for them. But I've got to ask, is no screening done before they get people on the live show. Because 🤷

[@cedarxeda2665]

Yes ooo nne quite embarrassing

[@ajibolaalibaloye4497]

That’s what the show wants drama

[@popsonjaiyesimi7670]

They might probably devalue the show if screening aren't done before live presentation

[@kennethirechukwu1075]

God abeg 😂😂😂😂

[@techteam3111]

I can develop a website or an app for your business.

[@asondubuisi5807]

ShipMich that will soon become a Ship Wreck

[@adrianroberts4174]

Try stretched/limousine sandals

[@suretech950]

Wow, this is so embarrassing. I hope they learn from this

[@giovannajennifer6526]

WACK keh for someone yet to graduate from accountancy

[@atio5491]

I have a similar business where I kept the interest percentage static too. I agree that time value of money means I’m unfair to people with shorter pay back periods but I’ll rather have that and only one loan defaults as these guys claim than have a structured % per month and have defaulters who agree to terms they just couldn’t sustain. Tell me when you can pay back this X + 30% and I’ll agree, just don’t fucking default. The business would grow and nobody would give a fuck about WACC, ROI, IRR, NPV or any other term finance professionals use in business. Who cares. I’m making a boatload of money, do you want to join and help us make more or not.

[@sundaynto3742]

It seems you don't understand the whole idea behind WACC, ROI, NPV etc. These are beyond making a profit. They are matters you must take into consideration once you are commercialising.

[@atio5491]

@@sundaynto3742 ‘…once you’re commercializing’ I like that phrase cause that’s the disconnect here. I have an MBA with a finance focus so I know those terms but when I saw an opportunity to make money in Nigeria, I didn’t use any of them. My analysis was very basic and more focused on human behavior than figures. Like these guys, not being in all the schools they trade in, I’m not in Nigeria so I focused more on individual agreements with my major players than rates and terms for the business, the same way they ask the loan recipient, what works for you. I agree that commercialization requires all these analyses but my point from the initial comment was simple, the business is good and you don’t need to throw the baby out with the bathwater.

[@sundaynto3742]

That's great! Thanks for the more insight.

[@sundaynto3742]

If you don't mind, I would love to connect with you. I'm a final year student of Economics, at the University of Nigeria and am currently enrolled on a Financial Modeling and Valuation course at CFI.

[@Asheri_Nsawir]

I dont see any business in his presentation

[@teslimxcv]

this messed up! it's giving scam feels

[@namprincewill7420]

Wicked!😂

[@Xtjiggzs]

This is pure comedy.

[@etosamuel7563]

I Dy tell you

[@amadidaniel961]

I swear🤣😂😂😂😂😂