I am running a money lending business called Insight Money Lenders which i started in April 2018 with my gratuity from my former employer.
I noticed that Marketeers (80% women) with smaller business are overlooked by many lending institutions and they do not have where to borrow funds that suit their business capacity. I started my own money lending business that will focus on these people. People operating in markets with an existing business. E.g. groceries kiosks, vegetable stands, saloons, barber shops, hardware, second hand clothes and other traders making daily sales.
Currently, i have over 220 marketeers benefiting from our services but the working capital is not enough to meet the demand and increase funding for the well deserving clients i currently have.
I currently have 7 workers who are well trained and ensure marketeers are punting these funds to good use.
We are currently managing about $15,000.
The minimum loan amount i give to each marketeer is $50 and the maximum is $500.
I have over 60 people as at 14/01/2018 waiting for us to raise funds for them including repeat clients who want to increase the amounts they borrow.