What Is Microfinancing?
By: Aladin R. Intoy Jr.
No matter how small or big your business is, you will need enough money or financing to continue growing.

There are already several financing institutions in the Philippines. From the word “finance” itself, financing dwells on providing funds or financial support to businesses, institutions, and more. This may be in the form of external institutions investing in your venture or you, yourself, borrowing money from financing companies. To be more specific, here are some sources or financing:

●Personal - some business owners provide funding for their own businesses. This may be from their savings, personal income, and more.
●Investors - these are either individuals who provide funding from their own pockets or investing agencies who make a profit from funding businesses.
●Government - local, regional, or national governments have programs that aim to help different individuals, companies, or various types of businesses.
●Banks - these companies have several products or services that provide financial support to their customers. One example of this is loans.

But, not all business owners have access to most of these sources. Just like small businesses or business owners who have low incomes. Most of you can’t afford big loans or do not have collaterals to provide. That is why microfinancing is here to help you. This type of financing service is for small businesses that lack financial resources to proceed with your ventures.

One example of a microfinancing company is Kayamo. Through the help of Kayamo, small businesses are given a chance to have small loans with lower risks. In other words, repaying rate is high since it is inside the borrower’s capacity to return the money you borrowed, despite the tenure being short. In the present, it is not a problem to find lending companies or even a few banks that provide microfinancing services. The only challenge is to look for a company offering low interest rates, since they vary from one company to another. Luckily, Kayamo is here offering as low as 0% interest rate—the lowest interest rate ever. You can visit www.kayamo.ph to know more about them and the amazing services they offer.

In other words, money should not be used as an excuse to not start a business or even when failing one. Because several opportunities are already available even for small businesses like what you have. Thus, you should take advantage of these chances to grow your ventures and improve in other aspects of the business to continue operating. With microfinancing like what Kayamo provides, everybody is given a chance to take a stand and persevere in this challenging but very rewarding world of business.