Ideal Finance, a non-bank financial institution, as part of a massive expansion plan this year has opened its third branch in Tema last week.

Chief Executive Officer Mr. Nii Kotei Dzani said the company is ready to increase its capital base to more than GH¢7million before close of the second quarter.

“We have made 300% profit over what we made the previous year. Currently, we have three branches and are hoping to increase them to six by the end of this year,” he said.

“We are the only micro-finance institution that gives loans for more than a year, and also gives loans in excess of GH¢100,000 because of our capital adequacy ratio. Once you have enough capital base you have the capacity to do that. We are also not so much collateral-focused, but rather we focus on the business’ cash flow to give loans,” he said.

In 2009 the company started with GH¢37,000 worth of assets, but three years down the line it now has assets in excess of GH¢18million.

Board Chairman of the company Capt. Rtd Kwadwo Adunkwa Butah said he is very proud to be part of such a successful company.

“I am very proud to be associated with the growth of this company. We started not very long ago from a modest beginning in an office at Kingsway, but now we have three branches and counting. This shows that we are strong and stabilised, and ready to venture into more business.

“The harbour is expanding and there are a lot of businesses here, so we are here in Tema to aid the city grow in leaps and bounds.”

He advised the staff to continually make their customers happy. “This business looks after you and the business thrives on clients, so if you make a client happy they will come back with more colleagues; but if your clients are not happy, then you will be out of business and you will be back at home.”