"I Don't Know How You Sleep At Night With So Much Debt" | Lions Den Nigeria
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- Опубликовано: 27 сен 2024
- Daniel, founder of SRG Global, water transport and tourism company, is requesting for an equity investment of 70 million in exchange for 10% equity...But his debt profile doesn't leave the Lions feeling confident.
#ultimalionsden
The Lion's Den is a Real Deal. Programs like this should be encouraged by all means. Who wants to be a millionaire and other programs that build Human capacity should be encouraged.
.....but, I will vote and advocate that shows like BBNaija be taken off the Nigerian Media Space. wasting lives and resources to enrich very few with obscenity and immorality.
I wish I can like this comment 100x
True talk...
YOU DESERVE ACCOLADES FOR THIS AWESOME INPUT!
MUCH RESPECT.
I agree
I agree💯💯
Investor Lesson - No matter how bad it looks, it's worth something. Respect to Dan.
Dan is a Don
Dl صدك ذ
Kp.
I like how he took a chance on the guy, everyone deserves a second chance no ?
Mr. Dan's deal is better than what the man has been facing. At least he can now sleep 4.5 hours every night 😂😂 but not 8 hours
"You have to decide if you're a service company or an asset company"
Really good clarification
These men has been giving me assignment
Omo this Lion Dan is so smart. He owns 50% of the company for 20m and he will still be paid back his 50m loan with 40% interest. So he will get his 70m back but still own 50% of this company. The brilliance of this deal and the sheer fact that he thought of this in minutes is mind blowing. All hail boss!!! Love it
But then, what will the 20million do in the business? He said, a boat cost 40-50million and he will repair the dilapidated one with the remain cash.... Don't you think he will fall back to borrowing in other to pay Dan his money? Just thinking
He wont get 70m in cash back bro.. if at all there is that much liquidity lying around then it will be going into improving the company so his 50% shares can have some value.. he is a bad company owner, he needs a good manager and risk assessment officers.. he can literally pay for one easily.. his accounts looks messy and starting to resemble a ponzi scheme, it might land him in jail at the end if a pro doesnt intervene
@@RomeCity4you the investor doesn’t care how he makes the money
The investor is a life saver at this point and a good negotiator too.The debt is killing and having him take 50% ownership is tantamount to taking 50 % risk .He may eventually buy him out of the business if he finds it difficult to pay the loan at 40% interest rate
Literally buying off the company with 70million
Title : how to trade 50% of your business for peace of mind and mentorship
plus good night sleep
I will galdly do it. That offer not just a business offer but a Life saver abd hope giver. I beleive the Lion saw beyond the business but chose to lend a hand
😹😹😹 spot on
@@chukstheanalyst The business is lucrative he just need a little review on the structure and that deal was a great one for the lion simply put, he bought time with his money I believe other lion's focused more on the ugly side rather than pay attention to the brighter side of he business if they could get around the debt. Mr Dan is the real deal with 2 years he'll get his 70m back and still own 50% of the company that's so huge a deal, so huge.
@@josiahramseyokeleye3370 He owns 50% of the company for 20m and he will get paid back his 50m loan with a 40% interest.
I love this.. one man still believed.. despite all the negative numbers, one man saw the potential in the business.. not the numbers..the business itself... Mr. Dan, I hail oo
Visionary
The guy who made the offer is a good man
I love this narrator. he makes beautiful punchline
Exactly
IKR 😅. The puns and punchlines are always on point.
@@MykelOkuboyejo for real.. The kitchen episode especially 😂😂
that's uncle Ben of project fame
He shouldn't even debate with Dan Ngarem. He should have jumped at the offer. I would with that debt.
Amazing!
I have learnt so much about business just watching your shows, than I probably would have in months!
A MILLION THANKS TO THE HOSTS, ORGANIZERS OF SPONSORS OF LIONS' DEN.
Servicing debt at 90% is such a horrendous mistake, you have to be in such a tight spot to accept that kinda deal in the first place . Anyways clearing it and starting all over again will help him with some traction , moreover he didn’t really need a new boat, he need more revenue to clear debt. Now he can grow organically . Weldone lions
He said
They are loan sharks
They were the only ones willing to lend him money
He borrowed to repay previous debt
@@BILLIONAIREGH regardless. Just because they are willing to give is not a reason to accept 90%. Great business idea, just needs some expert’s handling.
Sometimes I wonder how entrepreneurs get so neck deep into such level of debts. I can't trade my sleep biko
@@leonardezuruike485 you’re not an entrepreneur
Dan will be like... Thank you Jesus for clearing my N50m debt, I shall go and sin no more
“This is a Ponzi scheme “🤣
Just like the Queen said he's not making intelligent decision. Thanks for the Lion who helped write off his debt
A good man, helped him out
The lion too just dipped him into more debt.
@@olaniyiexplore6420 nope. 96% with two years left is gonna be a steep one. At least refinancing to 40% for 50% equity allows him to have more of his revenue to reinvest and increase profit. It's still a gamble but not as sure sudden death as his initial situation
Temporary reprieve. To last in business, 'low cost' money or capital is the way to go . That means percentage of indebtedness should be near zero or zero. This is true for both personal and business finance. 40% is still a princely sum. (Ask anyone who has ever had to service a loan. ) The major win I see for him here is the mentorship, and a little more time to turn things around. Wish him all the best.
This entrepreneur is into the Lions to invest in young bold and dynamic businessmen. I love him to bits. Very futuristic and legacy investor. Kudos to him.
This Mr Dan is so wise and humble❤❤❤❤
This is what entrepreneurs go through daily. Congrats to him. I love this show
I have learnt a lot from watching these lions. The didnt get where they are by chance.
So satisfying to watch this.. Lessons learnt
Taking advantage in any situation is what gives you the edge in business
Its a good deal, Now they can also begin to work on redesigning the company and explore opportunities on leasing and App booking. Nice one
Gbam!!! That why he shouldn't go public at embryonic stage
The model should have been strictly a service based based business. He simply bit more than he could chew ay the early stage.
That was very strategic Dan.
this is a very smart offer that is very hard to reject or accept. then this is a win win on both side
Shows like this should be widely encouraged across our media sphere, while the likes of BBNaija be shoved off our view.
Organizers should pls work towards promoting this show across boards.
The youths need to align with this kind of program for Nigeria to move forward.
Thank You.
@Ayoki vibe THANK YOU SO MUCH!!!
I can't watch this for entertainment, I watch this for education....
Education and entertainment are two different things, I believe.
This program is superb
Dan God bless you,for given this guy opportunity to stay alive.
What Daniel just did was simply give him 70 million and asked him to pay 70 million and still get half of the company. Daniel is smart, he's getting back his money, whether the company thrives or not. wow!
Dan is GENEROUS!
If you check, he's owning FairMoney.
Those people are ruthless.
I just found my favourite Lion. When God is for you no one can be against you.
He is my mentor a very great man
I heard 96% and I actually screamed!
What?!!
I was wondering what sort of desperation will make a business man take out such loans. It's outrageous. 96% interest. That in my opinion is the fastest way to kill a business.
It’s accumulated debt. Microfinance typically charge 7% a month. That’s 84% already. Since he’s not repaying principal, they kept rolling the debt over. Microfinance debt is not designed for a company like this. It’s for market women. He used it to go buy boats.
@@Relevance4life With the way you put it, it makes more sense than just financing a big loan at 96% interest rate.
it didn't make any sense. i started to feel like the entire show was scripted because it sounded surreal
I also screamed like what!!!!
He’s giving him 70M and getting back 70M + 50% of the company. Omooo
Dan is a super intelligent man
This show is superb... learning more
People are only looking at the money, if you look at the connections, you would realize in his condition, this is not the worst of deals
I too yelled "what?" and then thought he probably didn't understand the question! Never heard such an interest rate in my life before. Still, I can't shake the feeling he misunderstood the question and gave a misleading response.
I'm with you on this, I still believe the communication wasn't clear as regards the debt.
My thought exactly
He actually understood the question. Those are the kind of extreme interest rates you get when you use those “Quick loan” financial services. They are the modern day loan sharks. Their rates are crippling. He’s lucky to have gotten this deal from Mr Dan
Entrepreneur are monsters, just imagine 96% interest rate on loan of N50m...The best deal have seen so far. Thanks Lions
Daniel is intelligent, i have met him on many occassions innthe course of doing business.
He is smart, only that i didn't know this part of him been in debt.
I believe he will bounce back.
Thanks to the Lion that gave him a hand and saw beyond his mistakes/errors.
I need to seat down with Paul. He doesn't take chances. Super straight guy😁
With that amount of debt and interest rate, breaking even is not going to happen anytime soon. Great idea, worrisome way to execute.
Lions den should pls travel across Nigeria and see d full potential of our youth
96% interest rate in this Nigeria 😭 I thought he would correct himself and say 9.6 😭
This made me laugh 🤣🤣🤣🤣🤣
Have never hear of 96% debt 🙄 crazy number
Azin
Those numbers don't tell a good story... honestly I didn't believe him when he said 96%... I'm glad he got fresh start
The main issue is the debt and the HUGE interest rate... but just like Dan said no matter how bad it looks its worth something and if it is worth something then you try.
So no one picked up on the fact that he just got half of this guys company for free? Smh 🤦🏾♂️. 40% of 50M is 20M. Meaning he’s going to pay back 70M to the investor and he will still own half of his company for 0 naira. Crazyyy
My goodness!
@@theigbotruth all while making profits from the business. If he can’t pay. He has assets to sell to recoup investment which are the two boats that already exists. People are hailing the guy. It’s important to think properly! About everything!
When the debt is cleared from a business... it gives the principal a edge to start on a clean record ! 96% got me screaming 😱
I observed that the relief from the debt, worth a big deal for daniel that's why he accepted the deal...
You have a healthy functional, 6th sense brain.... nice one
God bless you sir
this is what having a good business idea with poor business acumen would do to you.
Wonderful idea but very poor execution
This show is a real deal..
It's knowledge filled and inspiring at the same time.
Thank you very much..
Paul is nownin debit😂 God has a way of paying back 🙏
For the next 50 million in revenue, Dan will take 90% of it, 50% equity, 40% interest on loan. Hopefully he can ride this out within a year
Better use like 3million of that money to set up a “boat Uber service"
There's something “off" about people who are comfortable in such debts without a clear path out that I don't fancy.
That lion really did u a solid with such an offer.
The best decision a lion ever, though I didn't see that coming
They should help him take care of that debt. He is currently in the hands of loan sharks
These valuations are crazy! He's valuing the company at 700m.
I love the #premium Lion partner part.
I want twenty dollars for a lemonade
I would not need a call if truly the company is fully mine! I am so glad he took the deal!
Not necessarily ... It's wise to have business advisors or mentors, it's always wise to have people who you can consult
@@ty9537 I do understand that, but with this kind of debt and an offer to knock it off with extra money to push again? I wouldn't need to make a call. What if the adviser asked him to reject it?
God bless you Dan
He said 96% and I said what, then thought he did not hear the question
Of the opinion he must not have had any choice than to pick up that interest but it's all good he is on a clean slate.
I never knew we had this!
Apart from the fact that he starts most of his financials with "roughly", did he really mean 96% interest on debt or I didn't just hear clearly? Guy spends that much servicing debts and expects to still make his projected margins?
Wow respect to Dan
I would like to invest in stretch sandals
This is good stuff I am definitely doing this
Those loan sharks should be ashamed of themselves
Has someone tried to ask for investment in stretch-sandals?
I haven't seen yet...
Got a pitch?
Mr Paul is also known as I'm out in Lion's Den.😊
Where's the stretch sandals?
Quite interesting program keep it up
I don't think he understands the offer... But then it leaves him in a better position than he was before he came. 40% debt servicing will always beat over 90%
How does he sleep at night with a debt of 50 million with 96% interest, that’s too Much!
What about a door on wheels
N50M in debt??? Damn!!!
It's a good deal.
That 96% was a very blind move.
I think that this is a bad deal for the entrepreneur. 40% for 70,000,000 and a 50% share of the business is highway robery! Not only does he have to give away 50% of the business, his dividend policy is being dictated to him. I guess his initial position was so bad, that this seems reasonable. Also his revenue projections dont support 28m debt servicing!
But look at the 50% knockoff of his current debt servicing rate.
@@chineduokwarac Yes. Relatively speaking it looks like a good deal, but if he started from a stronger position he would have gotten better terms.
Pls how do I attend this show
Huge mistake to ever borrow at such a rate. You can't grow like that.
An interest rate of 96 percent on a debt is ridiculous. It is either he doesnt know his numbers or he is just stupid....
Nawaoo, this guy took a loan at 96% interest rate. Chaii. Even at 40% interest rate is huge, but better than 96%
I'm not sure this guy understands the offer.
The offer is actually #20M for 50% equity of the company and another #50M loan at 40% interest rate.
That puts the company at a valuation of #40M as opposed to the #700M the entrepreneur originally puts it.
Lol 😆
He obviously doesn't
He got swallowed alive by a lion 🦁 😳 😭
He is quite naive
When he started the business he started with 15m so the investor is clearing his debt for 20% interest and also owning 50% of the company not bad though... Compare to him paying an interest of 96% on 50m
Came with a vluation of 700m, left with a valuation of 40m
And his debt interest was reduced to 40% from the 96% he came in with.
His initial valuation is stupid and overly optimistic
@@einsteinesegbue918 isn’t that what Silicon Valley is based on? Sell dog food, make 100naira a month, say you’re valued at 100billion
Kuddos to the last lion for giving him that offer , but im 100% sure he is gonna be doing his Due deligience before giving him that cash
The Lion have actually declined the Business
For real 😳😳
@@charlesgeorge7649, are you serious?! 😱
I didn't see it as a good deal.
He does not know his numbers...so very off...I am not sure he prepared very well for ..Accepting that offer for me seems how desperate he is.. Too many things do not add up.
I was surprised the Lion made the offer, though given the information Dan provided... it seems like the Last lion was giving a generous offer...but it is not...however better than nothing.
I wish Dan all the best though...He needs to get his number right...and honestly review his business model...
i know the ruff n tumble woman well met her few time nd shes so nice
Dan is ballzy I like that
So how does he intend on paying back the 50m at 40% interest rate if he only has 20m to invest? That would only be able to refurbish one boat.
In the end, he might end up borrowing to pay Dan and the cycle will start all over again
Well I don't think it works like that, if he can service his debt, then he stands a chance of going into debt again. Sounds funny right?
And then remember he mentioned family, friends and a couple sharks. Some of them will not when to get the money back from him at an instance while some will.
But business is all about managing long term debts so he will definitely find his way around it. I believe a lot of these lions are also in some debts not because they can stay debt free but because it's better. Debt is tax free, it's depreciates with time especially if it's in a local currency imagine borrowing 50million naira and convert to dollars(not really good though, it's better to buy assets) and wait three years😂
I doubt if Dan would actually honor his offer.
A new business with such a top debt?
The deal this brother accepts doesn't make sense at alll. This man literally just buys off his company without him even thinking it through at all..
1 - His desperate
2 - having 50% of a functional and profitable business is better than having 💯 that is literally own b the loan sharks
3- his is lucky to have an investor that is willing to inject that amount of cash into a business that is literally sinking into the ocean
Good deal if you has me based on the circumstances around the business.
Eeeii my first time watching this..... Business moguls hmmmm. God help us
I hope these lions don't steal Daniel's idea.
They taking over the business, that is investor for you
Daniel just have to go with the deal at least he can sleep with his two eyes closed.
Where are these business located
His numbers and decisions really dont add up which makes me want to know what strategies and ideas may be playing in Mr. Dan's head to consider his proposal. This is just out of curiosity
Well, see it this way, Mr. Dan just bought 50% of viable business that has a cashflow problem. Brought off the loan to earn interest. Soon, He will buy him off the business.
@@sherifhamzat7802 Ok I see. So the idea is not throwing away a business that has potentials to thrive because of huge debts rather, clear it all off and with proper management, the ship sails much better
He had earlier stated, this is a good business that if he didn't do it properly someone else will do it right, he acted on that note and he his willing to do it right, in the long run it ill be profitable.
Brilliant contribution from your comments!
These comments make Mr. Dan's decision clear, I was also wondering why he had to take such a risky step.
Thank you all for your comments.
96%.... WHAT?????
Wow
96% interest rate possible which business would delve into that ? Do not think he knows what he’s saying or is this staged?
Brilliant
This guy na thief 😂 😂 😂
Is this licensed from Dragons Den in the UK? Or just a rip off? Either way, I love it.
The UK does not have monopoly over this kind of show.
The last old man made a mistake. You're investing into something because of great gain under the control of an intelligent debtor.
lol you dont know who Daniel is probably he was the least expected lion to hop on that deal but he saw the prospect tho
He didn't really make a mistake , the business has a huge prospect ,and he got a great deal of it 50% equity is not a mistake into such a business with good prospects ,
The only issue with the business was the huge debt but without the debt the business is doing well
Moreover he have 50m as loan with 40%interest , for now this man basically owns this business
For now though
And if this guy manages it well , in the next 2-3yrs he will be out of debt totally band bounce back
And with 50% of the business he can actually kick him out at some point if he does not start making intelligent decisions
96%
Whaatt?
E shock me o
I can't even image that, and he is calling relaxing the Det with another debt of 40% a clean slate.
That's not a clean slate, it just a less muddy water
The strategy he used: he just bought him as a slave from another slave master. So, officially the guy is now his slave.
I don't believe that's the average interest rate. Bros must have added up all the interest rate he is paying on the several loan
@@ugochukwuuche778 but at 40% he will still sleep well and pay up on time compared to 96 freaking percent
cumtown reference