How do i start a Micro finance business?
My brothers and i want to start a micro finance business in vietnam. I was wondering how could i find the software for the loans? also what would be the pros and cons on having this business.
Finance best answer:
Answer by dunwoodyguyfriend
MicroLoans are great business, see prosper.com
Software: you will need to find some locals to write you the code, no package out there.
what kind of banks do they have in vietnam,
how are people going to depoist the money into their account for other people to borrow.
or are you going to fund this our of your picket?
I find this prosper format looks great, and you take 2% of the loan and service the loan if people
do not pay up.
Pro: good for everyone, make a little money starting off, and you have to keep an accounting.
con: you will get losers who get loans and you have to chase them down, do not what your
website to get a bad rap, because of a few bad people.
Good Luck
Finance
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