Small business loan from MFIs or NGOs

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daeum_tnaot
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Small business loan from MFIs or NGOs

Post by daeum_tnaot »

Today I was talking to a street peddler and she said she couldn't get any capital to start a better business. I suggested that she go to an MFI but she claims to have gone to one and they told her that they don't do such small loans as what she wants (like $100). And that they also require a land title.

I was skeptical of this and that she may have just only gone to one place. Does anyone know if MFIs are still doing small loans for microbusinesses?

Or perhaps, since this isn't the most profitable sector, perhaps there are NGOs that are doing this kind of scheme?
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atst
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Re: Small business loan from MFIs or NGOs

Post by atst »

I don't think $100 is considered a small business loan
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Re: Micro business loan from MFIs or NGOs

Post by daeum_tnaot »

Sure, it should be micro business. Not sure if I can edit the original post title.
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Re: Small business loan from MFIs or NGOs

Post by CEOCambodiaNews »

daeum_tnaot wrote: Sat Feb 27, 2021 6:59 pm Today I was talking to a street peddler and she said she couldn't get any capital to start a better business. I suggested that she go to an MFI but she claims to have gone to one and they told her that they don't do such small loans as what she wants (like $100). And that they also require a land title.

I was skeptical of this and that she may have just only gone to one place. Does anyone know if MFIs are still doing small loans for microbusinesses?

Or perhaps, since this isn't the most profitable sector, perhaps there are NGOs that are doing this kind of scheme?
I have no personal knowledge of this NGO, (so this was a search on internet), but this looks legit, so perhaps check them out, and then contact them and see what they can propose to help this woman. (It's an NGO working with Cambodian government.)
https://www.chamroeun.com/page/mission- ... corevalues
https://camhr.com/pages/employer/index. ... erId=21844
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epidemiks
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Re: Small business loan from MFIs or NGOs

Post by epidemiks »

Spean luy specializes in micro loans like this. https://spean-kh.com/
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Re: Small business loan from MFIs or NGOs

Post by Tootsfriend »

daeum_tnaot wrote: Sat Feb 27, 2021 6:59 pm Today I was talking to a street peddler and she said she couldn't get any capital to start a better business. I suggested that she go to an MFI but she claims to have gone to one and they told her that they don't do such small loans as what she wants (like $100). And that they also require a land title.

I was skeptical of this and that she may have just only gone to one place. Does anyone know if MFIs are still doing small loans for microbusinesses?

Or perhaps, since this isn't the most profitable sector, perhaps there are NGOs that are doing this kind of scheme?

Only $100 and you missed the hint she gave you.
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AndyKK
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Re: Small business loan from MFIs or NGOs

Post by AndyKK »

Cam.O'Dear wrote: Sun Feb 28, 2021 4:53 am
daeum_tnaot wrote: Sat Feb 27, 2021 6:59 pm Today I was talking to a street peddler and she said she couldn't get any capital to start a better business. I suggested that she go to an MFI but she claims to have gone to one and they told her that they don't do such small loans as what she wants (like $100). And that they also require a land title.

I was skeptical of this and that she may have just only gone to one place. Does anyone know if MFIs are still doing small loans for microbusinesses?

Or perhaps, since this isn't the most profitable sector, perhaps there are NGOs that are doing this kind of scheme?

Only $100 and you missed the hint she gave you.
Even so, that's a small hint.
Always "hope" but never "expect".
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Re: Small business loan from MFIs or NGOs

Post by Kammekor »

daeum_tnaot wrote: Sat Feb 27, 2021 6:59 pm Today I was talking to a street peddler and she said she couldn't get any capital to start a better business. I suggested that she go to an MFI but she claims to have gone to one and they told her that they don't do such small loans as what she wants (like $100). And that they also require a land title.

I was skeptical of this and that she may have just only gone to one place. Does anyone know if MFIs are still doing small loans for microbusinesses?

Or perhaps, since this isn't the most profitable sector, perhaps there are NGOs that are doing this kind of scheme?
Loads of Cambodian wrongly call MFI's NGO's (while paying 13-14-15% interest rates to them).
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Re: Small business loan from MFIs or NGOs

Post by daeum_tnaot »

Cam.O'Dear wrote: Sun Feb 28, 2021 4:53 am
daeum_tnaot wrote: Sat Feb 27, 2021 6:59 pm Today I was talking to a street peddler and she said she couldn't get any capital to start a better business. I suggested that she go to an MFI but she claims to have gone to one and they told her that they don't do such small loans as what she wants (like $100). And that they also require a land title.

I was skeptical of this and that she may have just only gone to one place. Does anyone know if MFIs are still doing small loans for microbusinesses?

Or perhaps, since this isn't the most profitable sector, perhaps there are NGOs that are doing this kind of scheme?

Only $100 and you missed the hint she gave you.
Actually I told her that one of my relatives lends money and she seemed interested.

But I felt that her business concept was off. She had a small child with her, just over a year old. And rather than wanting to sell at the market she said she would buy papaya to walk around and sell it. Which seems quite uncomfortable and impractical for someone with such a small child.

Later I considered that it may have been one of those scams where the child is not really even their own child.
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