Financing dreams

  • 9351e0a9a0f1a804620cce1bae04a53b.jpg
Financing dreams

 Money is the seed of money, and the first guinea is sometimes more difficult to acquire than the second million,” said Jean Jacques Rousseau.Most entrepreneurs today understand all too well what Rousseau meant by that statement. They know that ultimately they’ll need to procure finances to work on their business idea. More often than not, the one financial source that they home in on is usually the bank. Nepali entrepreneurs are no different in how they regard banks in this regard either.

We wanted to know how our entrepreneurs view Nepal’s banking system vis-à-vis their ventures. Are the banks helping entrepreneurs materialise their dreams? Or are the banks refraining from coming on board with them? We caught up with Ashok Sherchan, CEO of Prabhu Bank, to get a lay of the land.

A lot has changed in the past decade in Nepal’s entrepreneurial ecosystem. But the environment has not been as robust as many would have wanted. Where do you think the problems lie?

Let me start by first commending those who have decided to become entrepreneurs. That’s a big thing in itself. For if you want to be an entrepreneur, you need to have a new, or an innovative, idea in the first place. But to materialise your idea, you need both money and a market for your product. You might have a market readily available, but most Nepali entrepreneurs face the difficult task of receiving financial backing. Furthermore, the political and the economic environment in Nepal have been largely inimical to entrepreneurs. It can be difficult for entrepreneurs to thrive in such an adverse environment.

But there are also other factors that come to play. We haven’t been able to accept change and have been dependent on the same few companies who made it big in the past decades and continue to do well today. We also lag behind technologically. And then of course, businessmen have to deal with a rather complex bureaucracy too. But all these challenges notwithstanding, finding financing has been the chief issue for entrepreneurs.

 

But there are currently around 29 commercial banks, over 70 development banks and over 80 finance companies and micro credit development banks in Nepal. What role have they played in helping the ecosystem?

It’s not that the banking system has not tried to bring reforms in the entrepreneurial ecosystem. But banks are guided by directions, procedures and policies established by the central bank. Banks do need to see that an entrepreneur has some sort of security— be it land or guarantees or any concrete entity that entrepreneurs can use as collateral. If entrepreneurs meet the requirements of all the policies and procedures for procuring a loan, commercial banks do provide loans, and they do even at times, provide investments for new ideas. Banks are essentially here to do business too. So it is difficult for any bank to take a risk on just an entrepreneur’s idea if the entrepreneur does not have some sort of security backing his proposal for a loan.

Some entrepreneurs have great ideas and business models, but they might not have any security to apply for loans or investments from banks. Wouldn’t the policies we have now still be a barrier?

In such cases, entrepreneurs need to be able to convince the banks. First, their past work must prove that they are genuine and honest. Besides presenting a sound idea, they need to prepare themselves in three core areas: proper market research and validating their idea, financial viability and management soundness. Apart from these, entrepreneurs must also have comprehensive knowledge about business legalities and be able to vouch for the accounts of every other stakeholder in their venture. They also need to show that they understand their competitors.

Because most banks have already worked on thousands of projects, they are familiar with the ideas that are pushed in different industries and understand which ideas work and which do not. So the entrepreneurs need to make their idea and business model saleable to the analysts in banks. For startups, initial funds usually would not amount to much, so if the entrepreneurs’ ideas are saleable, banks might be able to provide the funds.

 

What roles has Prabhu Bank played in developing the entrepreneurial ecosystem?

We have played some part in creating new entrepreneurs. Our major investments have been in hydropower, agriculture and tourism. It’s not only big projects that we focus on; we also do look into small projects. Some of the small projects have been successful, and some have failed. But we have been able to boost the confidence of entrepreneurs by providing financial backing. We also give out loans to small and medium enterprises.

For instance, we have provided loans to farmers in Bara district—by initiating a three-party agreement with farmers, a sugar mill and Prabhu Bank. There was a guarantee that the sugar mill would buy sugarcanes from the farmers. The farmers were confident that the sugar mills would buy their products, we were confident the farmers would be able to pay back the loans, and the sugar mills were confident that the farmers would provide them their products because they were accountable for their loan. Having said that, there have been cases where we weren’t been able to provide monetary support to back ideas that were saleable because the entrepreneurs weren’t able to fulfil all the procedures and criteria.

 

Even with such provisions, startups still find it hard to finance their ventures through banks. What can be done to improve things?

To change things for the short term, the government needs to take on most of the responsibility. Right now, more than anything, there is a need to build confidence among entrepreneurs. So the government needs to help create an environment that’s conducive for doing business. Let’s say someone comes up with an idea of setting up an organic farm somewhere; the government should do what it can to help them during the initial phase. Protection is needed in the initial phase. If the venture makes it past the first phase, two benefits will accrue from that: one, the farmers will have refined their knowledge of producing and selling their products; and two, seeing these entrepreneurs finding their feet, other entrepreneurs too might want to start a business. When that happens, banks will also be more confident about financing new ideas. But that does not mean the protection must continue forever; it just needs to be instituted in the initial phase.

 

How can banks and the government play a part in financing startups in the future?

The government has also started to make things easier for startups. In the recent national budget, Rs 500 million has been allocated as a startup fund to support entrepreneurs with innovative ideas. But these sort of efforts will be in vain if we don’t have a plan. We must be careful in choosing the sector that we need to support. I think we should look for financing startups that foster technological development because that is where the market is and that is where progress lies.

Further, to ease financing, banks must work with the private sector. Just as with the tri-party agreement, we can come up with many other ways to assure returns on the investment banks make. In such a milieu, entrepreneurs will have ample opportunities to do their thing.

 *Photo Credits: Nirnaya Tandukar, M&S VMAG

Comments

  • Guest
    BLANK ATM CARD Tuesday, 01 March 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(darkwebcyberhackers@gmail.com) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer Hack

    * Bank Transfer Hack

    * PayPal / Skrill Transfer Hack

    * Crypto Mining Hack

    * CashApp Transfer Hack

    Email: darkwebcyberhackers@gmail.com

    Text & Call or WhatsApp: +18033921735

    Visit: https://darkwebcycberhackers.com/

  • Guest
    BLANK ATM CARD Tuesday, 15 March 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(dwchzone@gmail.com) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer Hack

    * Bank Transfer Hack

    * PayPal / Skrill Transfer Hack

    * Crypto Mining Hack

    * CashApp Transfer Hack

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    Visit: https://darkwebcycberhackers.com/

  • Guest
    BLANK ATM CARD Tuesday, 05 April 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(dwchzone@gmail.com) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer Hack

    * Bank Transfer Hack

    * PayPal / Skrill Transfer Hack

    * Crypto Mining Hack

    * CashApp Transfer Hack

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    Visit: https://darkwebcycberhackers.com

  • Guest
    Isabella Elena Monday, 02 May 2022

    Never met any hacker as discreet and fast like this WIZARD BRIXTON Hacker. He’s called BRIXTON and he has helped me in multiple ways first was when my ex wife cheated on me and now he’s helping me paying my credit cards debts plus he helped me gain access to my spouse phone remotely and I was able to use that against her in court. I must say he’s the best at what he do and I recommend him to the world. Email; Wizardbrixton at gmailDOTcom , you can be sure to thank me later. I will keep on telling the world that he’s the best out there, I am very thankful because he gave me and my kids a second chance .Are you interested in the service of a hacker to get into a phone, Facebook account, snapchat, Instagram, yahoo, WhatsApp, get verified on any social network account, increase your followers by any amount, bank wire and bank transfer. Contact him on WIZARDBRIXTON@GMAIL.COM

  • Guest
    Isabella Elena Monday, 02 May 2022

    Never met any hacker as discreet and fast like this WIZARD BRIXTON Hacker. He’s called BRIXTON and he has helped me in multiple ways first was when my ex wife cheated on me and now he’s helping me paying my credit cards debts plus he helped me gain access to my spouse phone remotely and I was able to use that against her in court. I must say he’s the best at what he do and I recommend him to the world. Email; Wizardbrixton at gmailDOTcom , you can be sure to thank me later. I will keep on telling the world that he’s the best out there, I am very thankful because he gave me and my kids a second chance .Are you interested in the service of a hacker to get into a phone, Facebook account, snapchat, Instagram, yahoo, WhatsApp, get verified on any social network account, increase your followers by any amount, bank wire and bank transfer. Contact him on WIZARDBRIXTON@GMAIL.COM

  • Guest
    BLANK ATM CARD Monday, 09 May 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(DWCHZONE@GMAIL.COM) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer Hack

    * Bank Transfer Hack

    * PayPal / Skrill Transfer Hack

    * Crypto Mining Hack

    * CashApp Transfer Hack

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    Visit: https://darkwebcycberhackers.com

  • Guest
    Christopher Liam Monday, 16 May 2022

    We offer certified and verifiable financial bank instruments via Swift Transmission from a genuine provider capable
    of taking up time bound transactions.
    FOR LEASING OF FRESH CUT BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    LEASING PRICE = 4%+2%
    FOR PURCHASE OF FRESH CUT BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    PURCHASE PRICE = 32%+2%
    Our BG/SBLC Financing can help you get your project funded,
    loan financing by providing you with yearly.
    RWA ready to close leasing with any interested client in few banking days
    I will be glad to share with you our working procedures.
    Name : Christopher Liam
    Email : trustedfinancemandate@gmail.com
    Skype : trustedfinancemandate@gmail.com
    WhatsApp: +13475948294

  • Guest
    Christopher Liam Monday, 16 May 2022

    We offer certified and verifiable financial bank instruments via Swift Transmission from a genuine provider capable
    of taking up time bound transactions.
    FOR LEASING OF FRESH CUT BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    LEASING PRICE = 4%+2%
    FOR PURCHASE OF FRESH CUT BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    PURCHASE PRICE = 32%+2%
    Our BG/SBLC Financing can help you get your project funded,
    loan financing by providing you with yearly.
    RWA ready to close leasing with any interested client in few banking days
    I will be glad to share with you our working procedures.
    Name : Christopher Liam
    Email : trustedfinancemandate@gmail.com
    Skype : trustedfinancemandate@gmail.com
    WhatsApp: +13475948294

  • Guest
    BLANK ATM CARD Tuesday, 31 May 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(DWCHZONE@GMAIL.COM) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer Hack

    * Bank Transfer Hack

    * PayPal / Skrill Transfer Hack

    * Crypto Mining Hack

    * CashApp Transfer Hack

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    Visit: https://darkwebcycberhackers.com

  • Guest
    BLANK ATM CARD Tuesday, 31 May 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(DWCHZONE@GMAIL.COM) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer Hack

    * Bank Transfer Hack

    * PayPal / Skrill Transfer Hack

    * Crypto Mining Hack

    * CashApp Transfer Hack

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    Visit: https://darkwebcycberhackers.com

  • Guest
    Liam Saturday, 11 June 2022

    DEAR SIR

    I am a direct Mandate to a genuinely renowned
    Investment Finance Company offering Cash & Asset
    Backed Financial Instruments on Lease and Sale at
    the best rates and with the most feasible
    procedures.

    Instruments offered can be put in all forms of trade
    and can be monetized or discounted for direct
    funding. we have direct Provider of BG/SBLC specifically for Lease and purchase.
    For Inquiry contact

    Email: financialinstrumentlimited07@gmail.com

    Skype: financialinstrumentlimited07@outlook.com

    WHATAPP NUMBER: +44 7535 963820

    Regards,

    Liam Herzberg

  • Guest
    ROONEY Saturday, 18 June 2022

    We offer certified and verifiable bank instrument via Swift Transmission from a genuine

    provider capable of taking up bound transactions

    BANK INSTRUMENT PARTICULARS

    Instruments :Fully Cash Backed, Fresh Cut Bank Guarantee(Standard ICC format)

    Age:One (1) years and One (1) day

    Rate:Leasing 4+2, Purchase:32+2

    Currency:USD/Euro

    Bank:Top A Rated banks

    Amount:As Advised by Beneficiary

    Intermediary Fees: Two percent(2%) of Face Value payable by Beneficiary

    Tranches :Ass per agreed tranches schedule

    Delivery:Swift MT799/MT760

    Payment :Swift MT103(Wire Transfer)

    Contact Name:Rooney Noel
    Email:Nrfinanciials@gmail.com
    Whatsapp:+447466893763

  • Guest
    amber Tuesday, 05 July 2022

    I got my already programmed and blanked ATM card to withdraw the maximum of $1,000 daily for a maximum of 20 days. I am so happy about this because i got mine last week and I have used it to get $20,000. Mike Fisher Hackers is giving out the card just to help the poor and needy though it is illegal but it is something nice and he is not like other scam pretending to have the blank ATM cards. And no one gets caught when using the card. get yours from Mike Fisher Hackers today! *email cyberhackingcompany@gmail.com

  • Guest
    BLANK ATM CARD Thursday, 14 July 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(DWCHZONE@GMAIL.COM) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer

    * Bank Transfer

    * PayPal / Skrill Transfer

    * Crypto Mining

    * CashApp Transfer

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    WEBSITE: https://darkwebcycberhackers.com

  • Guest
    BLANK ATM CARD Thursday, 14 July 2022

    GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.(DWCHZONE@GMAIL.COM) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

    You can also contact them for the service below

    * Western Union/MoneyGram Transfer

    * Bank Transfer

    * PayPal / Skrill Transfer

    * Crypto Mining

    * CashApp Transfer

    Email: dwchzone@gmail.com

    Text & Call or WhatsApp: +18033921735

    WEBSITE: https://darkwebcycberhackers.com

  • Guest
    amber Sunday, 17 July 2022

    Haven't you heard about cyber hacking company blank ATM card and how other people had benefited from it? I am Williams vivian by name, i want to share a blog and forums on how to get real blank ATM card,thank to cyber hacking company who helped me with an already hacked ATM CARD and i was so poor without funds that i got frustrated. One morning as i was browsing on the internet, i saw different comments of people testifying of how cyber hacking company helped him from being poor to a rich man through this already hacked ATM CARD. I was skeptical if this was true, i decided to contact him to know if he is real he proved to me beyond all doubts that its was really for real so i urgently receive my blank ATM card. Contact his email cyberhackingcompany@gmail.com and today am also testifying on how cyber hacking company helped me. I never believed in it until the card was sent to me, which am using today Contact the company now and become rich. Email: cyberhackingcompany@gmail.com 

  • Guest
    Richard Chadwick Thursday, 11 August 2022

    Are you an individual businessman or a business organisation that wishes to expand in business ??, we offer financial instrument such as BGs, SBLCs,MTNs, LCs, CDs and others on lease and sales at a rate of 4%+2% of the face value and reasonable conditionfrom a genuine provider. You are at liberty to engage our leased facilities into trade programs as well as in signatory project(s) such as Aviation, Agriculture, Petroleum, Telecommunication and any other project(s) etc.

    Contact : Mr. Richard Chadwich
    Contact Email: ribellodasilver01.finance@gmail.com


    With our financial/bank instrument you can establish line of credit with your bank and/or secure loan for your projects in which our bank instrument will serve collateral in your bank to fund your project.

    We deliver with time and precision as set forth in the agreement. Our terms and Conditions are reasonable and we work directly with issuing bank lease providers, this instrument can be monetized on your behalf for upto 100% funding. Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.

    All relevant business information will be provided upon request.

    BROKERS ARE WELCOME & 100% PROTECTED!!!

    If Interested kindly contact me via

    Email:~ ribellodasilver01.finance@gmail.com

    serious enquiry only.

  • Guest
    Patricia dooley Wednesday, 24 August 2022

    Trading with Wilsontrades has been the greatest thing that ever happened to me, I so much appreciate him for his good work over investors for granting us the opportunity to earn income weekly through their Investment platform I invested 1500 Euros after 7 days i received 15,350.00 Euros profit,you can invest as low as 200 euros to earn 700-900 euros weekly I am happy I am putting more I can't say less about this platform they have been so amazing. If you want to start making profit on crypto investment today contact on Whats-app: +27633586789 or email: wilsontradeszone@gmail.com

  • Guest
    julia Friday, 02 September 2022

    Do you want to verify if a company you are dealing with is legit?
    Have you been losing too much money to people online? Thats because your devices are spoofed and its thesame set of people scamming you under different names, you can not understand until an expert explain it to you.
    Do you need any hacking service? you want to recover what you lost to scammers?
    you need a blank atm with minimum of $20,000 withdrawal limit and maximum of $500,000 ?
    you want to spy on your partners phone or social medias?
    you have a personal hack request or something you need assistance with?
    Kindly contact Blockwiz. they helped me with many of my problems recently. my life was really messed up bad because i was being scammed for over 2 years and i was so stupid to keep paying them over and over again, i never learnt my lesson. Firstly they helped me recover everything i lost, and i bought their blank ATM card which i currently use everyday, and i was given a legit investment site where i trade everyday and withdraw it every weekend. it has been over 6 months since they changes my life, so i guess i should spread the word and hopefully someone in a similar situation gets the same assistance. below is their contact
    https://blokckwiz.wixsite.com/blockwiz
    Email: blockchain@cyber-wizard.com
    Tel: +1 (352) 443-8803 (whatsapp)

    Best comment

  • Guest
    Ian Berridge Tuesday, 06 September 2022

    We are genuine certified Financial Instrument providers. Presently, we only focus on BG/SBLC for Lease and purchase purposes. Our Lease BG/SBLC is 4+2% and purchase at 32+2%.

    Kindly contact us for our procedures and be sure that we would respond within 48hrs maximum.

    For further inquiry contact: BERRIDGE, Ian

    Email: bizfinleasingltd@gmail.com

Leave your comment

Guest
Guest Friday, 29 March 2024