Microfinancing

jrf

Bronze
Jan 9, 2005
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Anyone know of any organizations that deal in small to medium sized loans for locals needing financial assistance for business start up?

I know of Fundaci?n Dominicana de Desarrollo which has their office in the capital. If you are aware or familiar with them does anyone have any experience dealing with them or what the process might be? (their website
oddly enough doesnt explain that).
 

Chirimoya

Well-known member
Dec 9, 2002
17,850
982
113
Yes there are several lenders like Ademi and Banco de la Mujer. The government's Promipyme office will also provide info and advice.

IIRC Fundaci?n Dominicana de Desarrollo have a series of training courses for small initiatives, it depends if what they offer is relevant to the business and whether the person in question qualifies for support. In some cases they might have to be members of a community group/organisation to be eligible.

Consejo Nacional de Promoci?n y Apoyo a la Micro, Peque?a y Mediana Empresa > Inicio
Banco Ademi
BANCO ADOPEM
 

jrf

Bronze
Jan 9, 2005
1,020
12
38
Thanks very much for the response.

Do you know if any of these organizations, or know of any, that work without charging interest or how flexible they are regarding payment?
 
May 29, 2006
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Check out FindTheMoney.com. It's a match-maker service for investors and entrepreneurs. Because each investor is independent, the terms are different for each one. Some are good, some are terrible. As for finding money that is 100% free, good luck with that. They do projects all over the world.

You post a short ad with a pitch for your business idea and what kind of money you need. Then you get hits from investors by email. From there you talk about a business plan and what terms are offered. They fund anything from about $10,000 to ten's of millions. It's about $125/year membership, but it's looks pretty legit.
 

jrf

Bronze
Jan 9, 2005
1,020
12
38
Thanks again. Will contact the agencies and see what kind of terms there might be.
One said 8-10% interest but not too long term.