The main goal of micro-credit programs is to compensate for the inadequacies of regular financial institutions by providing small loans in nontraditional economic sectors. Flexible repayment procedures and reasonable interest rates are features of the program. A small amount of money can contribute significantly to poverty alleviation, as attested to by the many successes.
While there is still room for growth, financial institutions, if appropriately managed, can still generate operational profits and where the banking environment is not mature, development organizations should work to strengthen the banking system before implementing loan programs. One business entity playing a role in this regard is CRESCO project finance.
Established in 2005 on a philosophy of entrepreneurial thinking, CRESCO offers its clients advice on niche project finance solutions and provides transactional project development and implementation support outside of traditional balance sheet finance solutions.
CRESCO provides this specialist financial, commercial and project management support and utilises its specialist expertise and skilled resources to support the entire project development process. CRESCO provides a broad range of services to clients engaged in the acquisition, development and financing of projects across all industry sectors, within South Africa and Africa. CRESCOs services can be divided into project development and property.
CRESCO uses a proven framework and methodology which it applies to all projects based on experience of project development and the key requirements for a successful bankable project as it progresses through the project lifecycle.This process determines the critical issues which will result in a bankable or non-bankable project.
CRESCO properties provides clients with customised property solutions by utilising a multi skilled team, leveraging off core individual strengths.This firm assists clients in property development assessment, feasibility studies and financial control during the development phase in order to assess whether a project is sound enough to pursue.