Founder of M Village, Nguyen Hai Ninh
Hoang Thi Kim Dung, Country Director of Genesia Ventures Vietnam, announced that the startup M Village has secured an unsecured five-year loan from OCB Bank, totaling VND 100 billion.
M Village was established in 2021 by Nguyen Hai Ninh, following his departure from The Coffee House. The company currently operates a hospitality chain with 47 locations and is developing an additional 8 new sites. Genesia Ventures is an investor in this startup.
In September 2024, Genesia Ventures fund signed a comprehensive strategic cooperation agreement with OCB Bank to offer exclusive unsecured loan products to startups that have been operating for at least one year.
As a result, startups can borrow up to VND 3 billion for a maximum of 12 months to meet their working capital needs, trade finance, and guarantee issuance for their core business operations and services.
Since then, four startups from Genesia Ventures’ investment portfolio have accessed these unsecured loan products from OCB Bank.
Ms. Dung shared that OCB Bank provided the full loan amount to M Village in a single disbursement, rather than in installments. M Village can keep the unused funds in an OCB Bank account and access them quickly when needed for strategic investments, ensuring flexibility and efficiency.
Regarding the credit evaluation process for M Village, Ms. Dung mentioned that OCB Bank asked crucial questions, including: Does the startup create real market value? Is the founder fully committed to the business, or is it just an experiment? Does the company understand its break-even point and have a concrete plan for cash flow and cost control? What is the potential impact on the bank if investors withdraw their capital? Does the startup have a long-term financial strategy?
“These questions are essential for building mutual understanding, trust, and a long-term partnership between the startup and the bank,” said Ms. Dung.
At the recent Banking Innovation For Startups conference organized by OCB and Genesia Ventures, M Village’s founder, Nguyen Hai Ninh, shared an important lesson. He advised that startups should borrow from banks when they have money. According to Ninh, when a company has funds, it has more choices, but when a startup runs out of money, it loses those choices.
“Specifically, after M Village’s latest funding round and receiving the investment amount, our first thought was, ‘How can we get a bank loan now?’ Because at that moment, we could show the bank our full financial report and our strong cash position,” shared Nguyen Hai Ninh.
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