Founder and Board Chairman of Bills, formerly Quick Credit, Richard Nii-Armah Quaye, has disclosed the humble beginnings of his now vibrant microfinance company.

Unlike many lending institutions that were birthed from partnerships and huge investments, Bills Micro-credit had its initial capital from the sale of the founder’s family properties.

The astute businessman from a poor home, says he had to sell off the family’s television set, home theater system and freezer to raise funds to kickstart his business upon his return from school abroad.

“To be honest, when I came from the UK, I didn’t come with much money... If I recall, I had to sell family properties like plasma TV, home theater, freezers to be able to generate a little money that will enable me to disburse or lend money to [customers]," he said in the newly released Quick Impact documentary.

Narrating events leading to the decision to start the business, Richard Nii-Armah Quaye revealed he discovered a niche as a result of prevailing circumstances in his community, Korle Gonno.

According to him, people in the community assumed he had returned from the UK with so much money though he only went abroad to further his studies.

The assumption led to constant requests from folks in the neighbourhood for varying degrees of financial assistance.

“There is this culture in Korle Gonno where I come from, where people perceive anyone who had come from the UK, Europe, or US that you have made money. So when I came back home people in the community would normally be looking for me, bringing their problems, and asking me to assist financially," he stated.

“I learnt in the business school that…where there are problems, comes opportunities. And so that gave me the idea to set up Quick Credit so that I could then officially position myself to lend monies to those who want money," the founder disclosed.

Quick Credit rebranded to Bills in 2024 after 15 years of remarkable service in the micro-finance sector with an annual customer base of over 350,000.