Microfin has long been the microfinance "industry standard" for planning and budgeting. Microfin allows you to develop detailed five-year financial projections and budgets for your institution, and to simulate the impact of key decisions on your institution. This fast-paced course is designed to be highly participatory, with a large amount of hands-on time working in groups at the computer, applying the software to a detailed case study. By the end of the workshop you will have a better understanding of:
This is the lending out of small amounts of cash, usually without collateral. The concept has been adopted successfully by both profit and non-profit organizations, especially cooperatives. Millions of people have benefited from access to the loans provided by micro lending companies.
Micro lending has caught on even with banks and other financial institutions that previously thought it was not feasible. It turned out that most of the small time borrowers were also good payers, and since the interest rates were higher than the usual mark-up of banks or financing companies, the practice became attractive to the large lenders.
For entrepreneurs who wish to go into this promising business, there many things to microfinance business plan download to be successful. Here are some pointers for those who plan to put up their own microlending business: For practical reasons, it is usually best to be located near your target market.
Security must also be a consideration because you will be handling cash, so being near a bank would lessen the risk of robbery in transit. Cooperatives, however, are registered with the Cooperative Development Authority.
The current law does not allow sole proprietorships or partnerships to go into the money lending business. There must be a minimum paid up capital of P1 million. In actual practice, how you allocate your capital will affect the viability of the business.
Conserve on expenses like renovation and expensive furnishings, as this will allow you to have more funds available for lending out.
You must know and comply with the laws pertaining to the micro lending business. The most important is the Lending Company Regulation Act of To be able to apply this, you must also read the implementing rules and regulations of the laws. This is important so that your customers will be billed correctly and you get the right margin.
Proper documentation of the loan is critical later on when you have to take legal action in order to collect. The best way to reduce losses due to bad debts is to avoid poor payers in the first place. To do this, there must be a thorough credit investigation to assess character.
Collateral must be treated only as a secondary remedy because of the long and difficult process of foreclosing. To minimize your collection expenses, you should pursue bad debtors in the small claims court. This court will save you money in legal expenses because lawyers are not allowed in the proceedings.
However, the court will only hear cases if the original principal amounts to not more than P,; but almost all loans in micro lending are below that amount anyway. There will always be a big demand for small loans, and the micro lending entrepreneur is well placed to cater this need.
Want to learn more about this business? Click here to view details of the seminar: Written by Ruben Anlacan, Jr. May not be reproduced or copied without express written permission of the copyright holders. Download Testimonials Testimonials The seminars of BusinessCoach are really informative and very educational.
They are worth your seminar fees.This course guides participants through a step-by-step process for developing a business plan and financial projections for a microfinance institution using Microfin , the sophisticated.
Nov 15, · How to File (Register) for a Business. Do it yourself by contacting a local government agency (e.g., a state office) Hire a lawyer; Microfinance addresses a variety of financial services which includes loans, reserve funds and insurance to make Plan.
November Development of Business Plan for the establishment of a greenfield commercial bank providing MSE and (home-collected) retail loans – Russian Federation, assistance in the elaboration of business plan.
Microfinance: An Overview we do not allow users to copy or download content from our website. However, you can always bookmark. Microfinance Ireland provides loans of up to €25, to small businesses based in Ireland. Register for a loan online in less than 2 minutes! By the new microfinance affiliate of Sogebank, Sogesol, opened its doors for business.
A year later it has 2, active clients and has extended over 4, loans. As expected Sogesol is incurring losses, but it had built a sound operational base with the help of Accion International, which is a part-owner and technical assistance provider. Download with Google Download with Facebook or download with email.
Microfinance Bussiness Plan. Download. Microfinance Bussiness Plan. Authors. Abdelrahman Hennawy + 3. Abdelrahman Hennawy. Interviewed underprivileged people and conveyed their needs to my microfinance business plan project.