Cash for a day or two

By Paul Allen Business reporter allenp@jamaicaobserver.com

Sunday, January 22, 2012

Operating out of its owner's home, Henlon Brown Capital (HBC) started as a micro financing business in December 2010.

"I'm coming from the financial industry where I used to work with credit unions. I would ask myself 'Why is it that I must have some money sitting in the bank, when it can be used to my advantage?" said Aidin Brown, the company's president and ceo. "I went ahead and started (and we now) provide personal loans to persons that are employed and to an extent small business loans."

The initial start-up, though difficult to source funding, was a lot easier paper-wise said Brown, the third nominee in the Observer's new start-up programme. "I am familiar with setting up businesses, registering them because I help others to do this. I'm in the business of consulting so I just got the relevant documents and that was it."

The company, which is staffed by five people, provides loans from as low as $1,000 to $50,000. He said given their circumstances "Sometimes someone just wants $1,000 to borrow for the day and they can pay it back the next day or the next two days."

HBC is preparing to expand its operations as it moves into a permanent base in the Corporate Area by month's end. "The business has been doing well. We see where we are able to survive. Our challenge is the amount of money that we lend because some people want more than the 50 (thousand dollars) but we are not able to do that just yet."

The future of HBC is not yet drafted however; Brown said he is "looking into bill payment and some other areas." And even as he overcomes his own business challenges, he encourages other young entrepreneurs to go into business but only after thinking it through.