Microfinance organization: how to open and where to start?

The microfinance market shows more than 30% growth per year, while the banking market – only 10%. Obvious prospects make this sector incredibly popular among experienced and not so investors.

We decided to ask Dmitry Erokhin, a successful MFI franchisee in Yaroslavl, about where to start and how to make a business profitable.

Dmitry, what does an MFI start with?

To start an MFI, you need to open an LLC and add it to the register of the Central Bank of the Russian Federation. Office space, repairs, hiring and employee training – all this is clear. Continue reading →