Many Rivers trading up

DEMAND for microfinance and business support from Many Rivers Opportunities has grown to the point where it is gearing up to open five new offices across the state in the next year.

Launched in Western Australia in 2010, Many Rivers provides unsecured cash loans through Westpac bank and business support to a largely indigenous client base, and plans to expand its services by opening offices in Broome, Geraldton, Carnarvon, Mandurah/Bunbury and Albany.

“We can only operate in places where we get support. We have plans to open in those areas but we are looking for suitable funding partners at the moment,” Many Rivers Opportunities state manager WA David Bagheri said.

The not-for-profit organisation already has offices in Kununurra, South Hedland, Karratha, Kalgoorlie and Perth, and will bring on another field officer in its existing Kalgoorlie and Kununurra offices to expand services in the west Kimberley region and between Kalgoorlie and Esperance.

The uptake of services in WA has been solid, with 55 businesses established with Many Rivers support since 2010. An additional 100 businesses will be assisted during the current financial year.

“Most are sole traders but some are partnerships. Out of the 55 I think there are 102 jobs that have been established. Most of those businesses need loans, but some just need enterprise support,” Mr Bagheri said.

Many Rivers has garnered support from major corporations including BHP Billiton, Atlas Iron, Woodside, Rio Tinto, Citic Pacific, MG Corporation, and Toro Energy among others, and government departments including the Department of Indigenous Affairs.

Although resources companies form the majority of Many Rivers’ support base, businesses accessing its services range from landscaping, hairdressing, tourism and cultural training consultancies, to project management and concreting businesses.