Financial Resources

How Small and Medium Size Enterprise Can Solve Financing Queries

Tip! While commercial banks are the most common source of short-term debt, there are more choices for long-term financing. Equipment manufacturers provide some, as does the Small Business Administration (SBA), various state agencies, and leasing companies.

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At the naval base of Douala, a Cameroonian company called `Atlantique` has for one year been developing a new form of partnership with `Mouquet`, a French company. Thanks to the combination of their technical know-how, the two companies gained markets and made the cleaning of quays to the port authority of Douala. The Atlantic and Mouquett were put together, like 8 other companies in Douala , at the following day of the second edition of the industrial trade-guild held in January 2006.

It is a program to aid SME s in their development thanks to the training and with modernization by the use of sophisticated equipment. It is acted in order to circumvent the difficulties of financing faced by these SMEs .

Because,of this relation, two companies,which must be recognized by the Chamber of Commerce , are given a financing at Proinvest, the European Investment Bank. When the two companies merge, they must notify the Chamber of Commerce which will in turn prepare a file for obtaining the financing at Proinvest;the European company being in this case a perfect guarantee for the bank . If the European company constitutes the guarantee, there is a minimum which one requests from the Cameroonian partner. what one requires on the Cameroonian part, is to be known and recognized by CIMA, but also to know the trade of subcontracting for which it engaged.

After the first edition of the industrial trade-guild which saw nine companies profiting from these contacts, twenty seven French companies and four other Belgians have been arriving Cameroon early this year , within the framework of the living room of the Promote company, in order to tie new contacts Vis-a-vis with them, hundreds of Cameroonian SMEs corresponding to the profiles of companies of subcontracting have been selected for financing .

Ashu Telix Tambong

 

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