Publication: 13:33, 22.07.2020No. of the advertisement: 3391
What is your idea / business and to whom is it addressed?
I have a great and wonderful opportunity for investors/partners who would want to see planet earth being a bearable place for every human being. I have a microfinance institution that deals basically with women only. These women are mostly in the rural areas .They are all in different sectors of business and mostly agribusiness being that they are in the rural areas where land is vast. We empower these women through trainings and accessible loans depending on ones size of business among other factors.The market for our services is usually quite huge as they mostly are not able to access loans from traditional banks due to inadequate securities which in our case we are flexible on the securities to be provided.This intern eradicates poverty by giving equal opportunities to these women hence creating financial inclusion. Why Women? We understand that it is easier to get to the innermost of a community through women.When you empower a woman,there will be food and education needs of children in that family will be met,hence the entire community. Our services grow through word of mouth mostly.For a woman to access our loans and services,she should be in a group of 10-15 such women in need of our services.They must be well knowledgeable to each other since we require them to co-guarantee one another for the loans.In case one member of the group fails to honor their weekly payments,then the whole group is obliged to contribute and repay for her.Our loans are repaid on weekly basis for a term not exceeding 1year.
How should the idea/business earn money?
Our loans are for profit.We charge an interest fee which is incorporated to the loan and also repaid on weekly basis. There is also a six weeks training prior to accessing the loan which the members pay a registration fees and once they qualify for the loans,we charge a loan processing fees depending on the amount of loan.
At what stage is the idea / business at the moment?
The business has been in operation for the last 1.5 years and we are at an expansion stage.We already have clients who are repaying the loans.We can say we are already making profits.
What do you need?
Our Market is quite huge.We are looking for either a partner or an investor.We need funds to be able to satisfy our clients and the need in the society.
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