Start-up finance/financial institutions

Banks or financial institutions are usually difficult to engage for financing in an early stage of business or for young entrepreneurs.

Tips:

• Start having your basic financial issues with a bank, it builds a track record and a relation for possible loans later on in business-live.

Experiences from your own community:

Possibility of getting support from financial institutions in Bolgatanga, Ghana

Banks in Ghana do give financial assistance (loans) but usually to established business people who have enough proof(Collateral) to be able to pay back. Loans are usually given to only clients of the bank who have made enough contributions with the bank. In fact the loan given is usually a fraction of your own contribution in the bank in some cases or a little more above your contributions. Applicants for bank loans do not only go through unnecessary delays for several weeks and months but have their requested amount reduced to what the bank considers reasonable.