Home » Debo Adejana » How To Access An Estate Developer’s loan
Estate Developer's loan

How To Access An Estate Developer’s loan

This article tells you what you should know and subsequently do to access an estate developer’s loan in Nigeria. It is a long process in gaining access to funds for that estate development project. 

Estate developers in Nigeria have one major constraint and that is the cost of acquiring land which is the first stage on a somewhat tumultuous path to what should ordinarily turn out to be a worthy investment.  Hence, money plays a huge and vital role in any estate development project. This article reveals steps to take in obtaining an estate developer’s loan.

There is no gainsaying that the cost of land in Nigeria is unusually high especially in cities like Lagos, Port Harcourt, Abuja and Enugu. How about the problem of accessing funds for estate developers which is a must for most if not all estate developers? Developing an estate is not child’s play, there’s a lot that goes into it, neither is obtaining an estate’s developer’s loan.

However, if a developer can have access to funds, he may be on his way to solving a myriad of problems. You know that saying about money making the world go round right?

Read also: How To Access A Mortgage

Albeit, some estate developers don’t even know the procedural processes involved in accessing these funds; they are unaware of what it takes to access an estate developer’s loan in Nigeria for their estate development project

Here is a checklist of what you should do to access an estate developer’s loan in Nigeria.

  1. Application form with 2 passport photographs of the signatories to the credit
  2. Application letter addressed to the Managing Director of the Bank/Mortgage Bank granting the loan
  3. Certificate of Incorporation
  4. Photocopy of article and memorandum of association of the company with certified true copy of form C02 and CO7.
  5. Detailed brochure and profile of the company including:
  • List of Board of Directors( Names, Position and Profession in tabular form)
  • List of shareholding profile of the Board of Directors and others
  • List of Management staff including rank, designation, profession, qualification and years of experience
  • Technical team if different from management staff
  • List of project executed by the developer indicating location, name of Estate, house type, number of housing units and cost
  1. Audited annual accounts with signature, seal and certification stamp of the auditors fpr the previous three years
  2. Photocopy of the tax clearance certificate for three yaers
  3. Approved building and layout plan
  4. Financial plan and budget including financial projections
  5. Copy of title document, deed of assignment
  6. Equity contribution
  7. Proposed collateral security
  8. The company’s board of Directors resolution to borrow signed by the chairman and company’s secretary.
  9. Valuation report signed by a registered estate surveyor on the proposed project, appointed and approved by the Mortgage bank
  10. Priced Bill of Quantities (BOQ)/Bill of completion signed by a registered quantity surveyor
  11. Feasibility and viability development report
  12. Cash flow projection stating the proposed periodic repayment
  13. Project work program/plan in addition to fund release plan
  14. Marketing pan
  15. List of intending buyers

Any other relevant information that may facilitate quick consideration of the estate developer’s loan would be welcomed.

These are a few of the criteria and lending guidelines a typical mortgage bank in Nigeria would look into before granting loan to an estate developer

The bottom line is that the overall business and  financial risk of your business is put  into consideration when evaluating your loan application.



  1. Michael Gbadamosi

    Micedes Design and construction Ltd is our company,
    We plan to go into real estate to contribute our quota to this industry.
    Engr Michael Gbadamosi


    Can I really buy now and pay later?I want to buy a two bedroom bungalow

Leave a Reply

Your email address will not be published. Required fields are marked *