Entries Categorized as 'Micro-lender / microloan'

India- Srijan Microfinance Business Plan Competition

February 15, 2008

Purpose of Competition

This business plan competition is specific to India. The competition is a search for entrepreneurs that have an innovative plan to address challenges faced by the microfinance movement in India which prevents micro-finance from becoming a major player in the financial sector and entrepreneurs capable of building companies that will accelerate microfinance into mainstream financial services there.

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Microlenders only source of funding for many small business owners

June 19, 2007

Prospective business owners are always concerned about where they will find money to start their business. Consider this…

Several years ago after Merlinda Sedillo Welch’s chile and salsa both won blue ribbons at the New Mexico State Fair, she decided to turn her grandmother’s secret recipe into a business venture. But when she approached the bank where she had maintained all her financial relationships for close to twenty-five years with a loan request, they turned her down flat.

“I still remember how devastated I was after that experience,” Ms Sedillo Welch said during a recent telephone interview. Today, Merlinda’s chile and salsa products are sold in many stores throughout Albuquerque, New Mexico and via her web site. How did she do it?

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