Hi N.landers....... am about to take a bold step in my life, but before venturing into it, am ready to let my plan out and i will also welcome more ideas and criticism from ppl....
i work with a local bank as a credit officer charged with d responsibility of disbursing loans (micro) to group of women who use it to trade hence pay a certain percentage while returning it within a frame of time... with this acquired idea, am planning to establish and create my own micro loan initiative, targeting d same market d bank targets. Though i don't have much capital to start this but am planning to start with a little bit above 500k....
Pls N.landers....is this really advisable...?

You intend starting a cooperative society or microfinance bank

I dont know how five hundred thousands can achieve any of the 2

You may start a private loan scheme

Or a heir purchase model of business pending the time you will have enough to start a coperative

pneumaticos:
You intend starting a cooperative society or microfinance bank

I dont know how five hundred thousands can achieve any of the 2

You may start a private loan scheme

Or a heir purchase model of business pending the time you will have enough to start a coperative

exactly what am talking about.... knda private loan scheme programme....
now d question is ..... must it be registered..? if Yes..... should it be registered as an NGO....? am only scared of loosing my hard saved money...
Though realistically..... it profits.. coz when u disburse d sum of 500# to 10 females @ 50# each...looking @ that d interest on it will be 10# on each 50# within d space of 16 weeks... what do u think

I understand, not that I have ran the business myself like that but it was something I did in 2008

If you big chested you may go ahead, on the private model,but in order to be liquid enough, I will suggest you register as a cooperative society,this will enable you to fall back on the big guys like bank of agriculture and co
These act I believe will also give some legal document for you to run the business

With your registration as a cooperative society the women wont see it as a one man business which may give them a chance to run away with your money

pneumaticos:
I understand, not that I have ran the business myself like that but it was something I did in 2008

If you big chested you may go ahead, on the private model,but in order to be liquid enough, I will suggest you register as a cooperative society,this will enable you to fall back on the big guys like bank of agriculture and co
These act I believe will also give some legal document for you to run the business

With your registration as a cooperative society the women wont see it as a one man business which may give them a chance to run away with your money

Thanks....i quite understand...
thought u said something like...u tried it in 2008...if i may ask, how was it when u tried it.... any success story..?

i kindly need much and better response to this... let's d advise/ criticism start coming in