📄 Research Article
AJCR Vol. 9, No. 8 (2022)
ASSESSMENT OF THE LIMITATIONS AFFECTING ACCESSIBILITY OF FINANCE BY PRIVATE DEVELOPERS IN ANAMBRA STATE.
Okafor Johnbosco Ikenna & Ndeche Chinenye Blessing & Sado Raphael Oshiobugie
Department of Estate Management, Nnamdi Azikiwe University, Awka
Open Access
Peer Reviewed
Research Article
Abstract
Real property development is an aspect of human endeavor which provides shelter for mankind for various purposes such as residential, commercial, industrial, agricultural and recreational. This property development is such that requires huge capital outlay such that most often equity capital may not be enough to embark on this project. Private developers in Anambra state often faces a lot of limitations in a quest to access loan from financial institutions to embark on property development. The major thrust of this research is to assess the limitations affecting accessibility of finance by private developers in Anambra state so as to make recommendation(s) on the way forward. This study made use of survey research design. Questionnaire was distributed to 286 professionals in the property development industry out of which 250 were returned. The opinion of the respondents was presented with the use of tables and analysed using simple percentage and mean ranking. The hypothesis was tested with the use of One-way ANOVA with the decision to accept the null hypothesis (H0) if p-value is greater than 0.05. The study found that high interest rate is a major constraint faced by private developers in accessing finance from commercial banks. This is followed by difficult requirements and excessive protocols. The study thereby recommends reduction in bureaucratic procedures and protocols to make finance easily accessible
Keywords:
Limitations, Accessibility, Finance, Private Developers
📑 How to Cite This Article
APA 7th Edition:
Okafor Johnbosco Ikenna, Ndeche Chinenye Blessing, Sado Raphael Oshiobugie (2022). ASSESSMENT OF THE LIMITATIONS AFFECTING ACCESSIBILITY OF FINANCE BY PRIVATE DEVELOPERS IN ANAMBRA STATE.. Academic Journal of Current Research, 9(8), 37-44. https://doi.org/
Okafor Johnbosco Ikenna, Ndeche Chinenye Blessing, Sado Raphael Oshiobugie (2022). ASSESSMENT OF THE LIMITATIONS AFFECTING ACCESSIBILITY OF FINANCE BY PRIVATE DEVELOPERS IN ANAMBRA STATE.. Academic Journal of Current Research, 9(8), 37-44. https://doi.org/
Vancouver Style:
Okafor Johnbosco Ikenna, Ndeche Chinenye Blessing, Sado Raphael Oshiobugie. ASSESSMENT OF THE LIMITATIONS AFFECTING ACCESSIBILITY OF FINANCE BY PRIVATE DEVELOPERS IN ANAMBRA STATE.. Acad. J. Curr. Res.. 2022;9(8):37-44. DOI:
Okafor Johnbosco Ikenna, Ndeche Chinenye Blessing, Sado Raphael Oshiobugie. ASSESSMENT OF THE LIMITATIONS AFFECTING ACCESSIBILITY OF FINANCE BY PRIVATE DEVELOPERS IN ANAMBRA STATE.. Acad. J. Curr. Res.. 2022;9(8):37-44. DOI:
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