Small business loan from MFIs or NGOs
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Small business loan from MFIs or NGOs
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 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?
Re: Small business loan from MFIs or NGOs
I don't think $100 is considered a small business loan
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Re: Micro business loan from MFIs or NGOs
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
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.)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?
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Re: Small business loan from MFIs or NGOs
Spean luy specializes in micro loans like this. https://spean-kh.com/
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Re: Small business loan from MFIs or NGOs
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.
Re: Small business loan from MFIs or NGOs
Even so, that's a small hint.Cam.O'Dear wrote: ↑Sun Feb 28, 2021 4:53 amdaeum_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.
Always "hope" but never "expect".
Re: Small business loan from MFIs or NGOs
Loads of Cambodian wrongly call MFI's NGO's (while paying 13-14-15% interest rates to them).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?
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Re: Small business loan from MFIs or NGOs
Actually I told her that one of my relatives lends money and she seemed interested.Cam.O'Dear wrote: ↑Sun Feb 28, 2021 4:53 amdaeum_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.
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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