Question 1

What is Best Finance?

Accepted Answer

Best Finance Ltd. is a microfinance company operating in Nepal. Originally established as General Finance Ltd., the institution was renamed Best Finance Company Ltd. in 2017 following approval from the Office of the Company Registrar and the Annual General Meeting.

The company provides financial services primarily to Small and Medium Enterprises (SMEs) throughout Nepal. With 18 branches and a paid-up capital of approximately 890 million Nepali Rupees, Best Finance serves communities across the country as a licensed financial institution under Nepal's banking regulations.

Question 2

When was Best Finance founded?

Accepted Answer

Best Finance was originally incorporated under the Company Act on June 23, 1995 (2052/03/08 in the Nepali calendar) as General Finance Ltd. The company acquired its license from Nepal Rastra Bank to perform financial transactions and formally began operations on February 2, 1996 (2052/10/18) from Chabahil, Kathmandu.

The institution was established by a group of enthusiastic entrepreneurs and dynamic Non-Resident Nepalese (NRN) businessmen. On September 5, 2017 (2074/06/24), following the decision of the Annual General Meeting and approval from the Office of the Company Registrar on August 21, 2017 (2074/05/21), the company changed its name to Best Finance Company Ltd. and began operations under its current brand.

Question 3

Where is Best Finance headquartered?

Accepted Answer

Best Finance is headquartered in Chabahil, Kathmandu, Nepal, where it originally launched operations in 1996. Kathmandu, as Nepal's capital and largest city, serves as the financial and commercial center of the country.

The headquarters location in Chabahil provides the company with access to Nepal's primary business district and financial infrastructure.

Question 4

Where does Best Finance operate?

Accepted Answer

Best Finance operates throughout Nepal with a network of 18 branches serving various regions of the country. The company provides microfinance services to communities across Nepal's diverse geography, from the Tarai plains to hill and mountain regions.

The institution focuses on serving areas where small and medium enterprises require accessible financial services to support business development and economic growth.

Question 5

What services does Best Finance offer?

Accepted Answer

As a microfinance company in Nepal, Best Finance provides:
• Microloans: Credit facilities designed for small and medium enterprises, including business loans, working capital financing, and enterprise development loans
• Agricultural financing: Loans supporting agricultural activities and rural economic development
• SME financing: Specialized lending products for small businesses and entrepreneurs
• Deposit services: Savings accounts and other deposit products for clients
• Financial inclusion services: Accessible banking services for underserved populations and communities

The company's primary focus is catering to the financial needs of Small and Medium Enterprises, providing them with the capital necessary for business expansion, operations, and development.

Question 6

What makes Best Finance unique?

Accepted Answer

Best Finance operates under the corporate tagline "Spreading Excellence. Serving with Best," reflecting its commitment to quality service delivery. The institution has evolved from its original formation in 1995 to become a rebranded and strengthened microfinance company serving Nepal's SME sector.

As a microfinance institution promoted partly by Non-Resident Nepalese businessmen, Best Finance brings international perspectives and expertise to Nepal's domestic financial sector. The company's ownership structure includes 51.42% promoter shares and 48.58% public shares, demonstrating a balanced approach between founder control and public participation.

Best Finance's core values emphasize integrity, teamwork, customer satisfaction, community focus, and compliance—principles that guide its operations throughout Nepal.

Question 7

What type of financial institution is Best Finance?

Accepted Answer

Best Finance is a microfinance company (Class 'D' financial institution) licensed and regulated by Nepal Rastra Bank under the Banks and Financial Institutions Act. Microfinance companies in Nepal represent a distinct category of financial institutions specifically designed to provide accessible financial services to small businesses and underserved populations.

Prior to current regulations, microfinance institutions operated under the Development Banks Act. Following regulatory reforms including the Banking and Financial Institution Ordinance (BFIO) of 2004, all banks and financial institutions were brought under unified legislation. Microfinance companies are now classified as 'D' class financial institutions by Nepal Rastra Bank.

These institutions play a crucial role in Nepal's financial inclusion strategy, providing credit and financial services to SMEs, rural communities, and populations that may lack access to traditional commercial banking services. Best Finance operates within this regulatory framework while maintaining its focus on enterprise development and financial accessibility.

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