Micro Finance loan helps man expand business

 A MAN from Western Highlands, who has been selling cooked food in Port Moresby, now owns a registered fast food and taxi business in the city.

Paul Richard says he started his ESPA fast food and taxi services business from selling cooked food at the Morata One Community Hall. 

With assistance from his committed wife he ventured into to a trade store and gradually established a mini kai bar (fast food) in 2008. 

Last year, he approached the PNG Micro Finance Ltd (PML), Waigani branch for financial assistance in terms of seed capital to buy assets. 

With the assistance, Richard expanded his mini kai bar and ventured into the transportation business. 

He purchased two second-hand Coaster buses now operating as PMV in NCDC and a station wagon cruiser for logistics and business operations.

Richard expanded his food outlets to additional locations at Boroko and recently opened a new outlet at Koki.

 “I opened up savings account at the PML Boroko and Waigani branch to do all my banking,” he said. 

“I find it easier to bank with PML as the monthly fees are very low and affordable for people like me.”

PNG Micro Finance Ltd Waigani Branch lending team leader Samson Junas said 

working with Richard was an exciting experience.