Looking for a Microﬁnance Bank Business plan in Nigeria for your new or existing enterprise?
Download this Microﬁnance Bank Business plan sample, which you can download to present to NIRSAL, BOI, BOA, and other investors.
Microﬁnance banks are small banks that offer loans, savings, and insurance to entrepreneurs and small business owners who can’t access traditional sources of capital, like banks or investors. The main objective of microﬁnance banks is to provide people with money to invest in themselves or their businesses.
Microﬁnance banks are different from commercial banks. For instance, funding to commercial banks usually takes place through public offers (stock markets) in the form of equity, while Microﬁnance banks usually receive their funding from individuals/private equity holders in the form of debt. Also, most of the services commercial banks offer are bank door services, which means the customers need to go to the banks to access the services provided. But most of the services provided by Microﬁnance banks are doorstep services, which means the staff of the banks delivers their ﬁnancial services at the client’s doorstep.
SAMPLE FEASIBILITY STUDIES FOR MICROFINANCE BANK
1.0. Executive Summary
Gateway Microﬁnance Bank, LLC is a new microﬁnance bank in Abeokuta, Ogun State, that will task itself with the provision of lending small funds and mortgage loan services to small businesses, real estate developers and other businesses alike. The establishment is poised to be accessible to a full range of microﬁnances which help us offer the right loans with the best rates, terms, and costs–to meet our client’s basic needs.
We are passionate about the pursuit of excellence and we hope to bring high-quality micro-lending services to business customers scattered all over the region.
Our plan is to enable a family-like ambiance to make customers feel at home and explain the kind of service they seek so we know the best solution to offer them.
GMB LLC is created as an L.L.C. in order to avoid double taxation found with a corporation yet realizing the beneﬁts of personal liability avoidance. We will be occupying a standard oﬃce facility in the business district of the city, giving us the suitable traﬃc to attract customers.
2.0. Products and Services
At GMB L.L.C, we plan to offer unique services limited to lending small funds. We have dissected how the industry operates and have chosen the services we can effectively offer our clients.
We have also employed a solid workforce with speciﬁc talents to help us offer these services. We plan to do everything in accordance with the law to reach our business goals. Our service offerings are listed below;
- Provide loans to small businesses
- Providing equipment loans
- Providing vehicle loans
3.0. SWOT Analysis
Our plan as a microﬁnance bank is to set up well-oriented microloan services that will be of great help to our clients. We are fully aware of the fact that it will take the right business concept, management, and organization structure to achieve our set goals.
The presence of other several companies that are in the same industry as we are present all around the region is why we are following the due process of establishing a business. This is the summary of the SWOT analysis that was conducted;
According to our SWOT analysis, our strength at AMB LLC rests on the capacity, vision, and experience of our team. We can boast of having a team that is prepared to offer our clients the very best; a team that is well placed, professional and ready to pay attention to details and to maximize ﬁnancial proﬁts for the business.
The fact that we are a new company is a weakness and this vulnerability will last pending the time we break into the market and gain acceptance since we are just a new microﬁnance bank.
A lot of people, startups, and corporate organizations are in need of microloans to help them achieve their goals. This fact is a huge opportunity with which the lending industry has presented us.
Threats in this business will comprise unfavorable government policies, the arrival of a competitor within our location of operation, and a global economic downturn. Also, huge losses can be incurred in the following situations; sharp and prolonged spikes in interest rates, accounting control fraud, or the collapse of inflated real estate bubbles.
4.0. Target Market
Our ﬁrst aim at GMB LLC is to serve small to medium-sized businesses, from new ventures to other bigger businesses and individual clients. We plan to offer the best possible micro-lending services, hence we’ve made sure all our employees are well trained and equipped to serve a diverse range of clientele base. Our target audience at GMB LLC will span across businesses of different scales and individuals. Listed below are businesses and organizations that we have specifically designed our services for;
- Small businesses
- Individuals and interested homeowners
- Real Estate companies and investors
- Non-governmental organizations
- House of worships and other religious organizations
- Educational institutions
- Corporate companies
How To Download Microfinance Bank Business plan Template PDF and Doc (With financial analysis)
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me)
P.S: We can also tailor the Microfinance Bank Business plan to your name, business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.