microfinance/microlending business

[Nmiller]

Hi,
I am interested in opening a microfinance/microlending business in Hong Kong but cannot find any information on the regulatory, licensing, etc requirements. Can anyone direct me to some resources on gow to find this information? Thanks.

[East_coast]

Much of the micro-finance industry is regulated by the guilds of the major players in the field such as

New Righteousness and Peace Commercial and Industrial Guild

[big_panda]

Hi,
I am interested in opening a microfinance/microlending business in Hong Kong but cannot find any information on the regulatory, licensing, etc requirements. Can anyone direct me to some resources on gow to find this information? Thanks.

You will need a licence under the Money Lenders Ordinance, which requires clearance from Police. You can google it for more information on the process.

[100LL]

What would you consider the range for micro loans here in Hong Kong?

[bookblogger]

Much of the micro-finance industry is regulated by the guilds of the major players in the field such as

New Righteousness and Peace Commercial and Industrial Guild

And it will be hard to compete with their network of sales reps, not to mention their irresistible loyalty scheme.

[marcusasiabiz]

Probably, I receive 5 cold calls from banks and their subsidiaries to offer low interest rate personal loan daily, it seems that the loan market is packed with lot of strong players.