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Overview
campaign deal type
Equity
available equity
11%
price per share
ZAR 1,000
1767
available shares
investment term
5 Years
targeted return
4.7X Money
targeted rate of return
45.7%
Raised
0
Investors
Targeted Return
4.7X Money
Business valuation
ZAR 16,500,619
The Problem
Mighty Finance is addressing a critical challenge faced by small and medium-sized enterprises (SMEs) in Zambia: limited access to financing. The current landscape reveals that:
> 85% of SMEs lack access to finance: A significant majority of small businesses struggle to secure the funding they need to operate and grow, which hinders their potential and impacts overall economic development.
> High decline rates for loan applications: Approximately 72% of loan applications are declined, which indicates a major barrier for SMEs seeking financial support. This high rejection rate reflects the stringent criteria set by traditional lending institutions, which often do not consider the unique circumstances and potential of smaller businesses.
> Lengthy funding processes: The average time for SMEs to secure funding from traditional institutions ranges from 4 to 8 weeks, creating a substantial delay that can disrupt business operations, particularly in times of cash flow constraints.
> Traditional institutions’ reliance on human interaction: Many traditional lenders depend heavily on human interactions for credit assessments, leading to inefficiencies and biases in the lending process. This method is not only time-consuming but also often excludes SMEs from receiving necessary financial support.
The Solution
Mighty Finance aims to solve these pressing issues by:
> Providing Quick Access to Capital: With an automated decision-making process, Mighty Finance significantly reduces the time required for loan approvals, enabling SMEs to receive decisions within minutes and funds disbursed within 24 hours.
> Supporting Financial Inclusion: By targeting women-owned and led businesses, Mighty Finance is committed to fostering financial inclusivity and empowering underrepresented entrepreneurs in the market.
> Streamlining the Lending Process: The platform leverages technology to minimize human biases and enhance efficiency, ensuring that SMEs are assessed fairly and equitably based on their financial health and potential rather than solely on historical data.
> Building Credit Histories for SMEs: By helping SMEs establish a credit rating, Mighty Finance allows businesses to build a financial track record, increasing their chances of accessing additional funding in the future.
Social entrepreneur and business enthusiast with experience in retail banking, Micro finance and agricultural finance, agriculture, and manufacturing.
With a strong background in software development and systems architecture, George drives the strategic adoption of technology to enhance operational efficiency and client experience. Under his leadership, Mighty Fin's platform is positioned to deliver seamless digital lending services, ensuring scalability and reliability. He is committed to leveraging cutting-edge technology to address financial inclusion challenges across Zambia and beyond.
The Team
Raised
ZAR
0
Targeted Return
4.7X Money
Business valuation
ZAR 16,500,619
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