Now m asking myself whether all MFIs should start from NGO-based or profited-oriented based institutions in order to sustain. Many MFIs start from NGO-based institutions in Cambodia and they are successful in seeking for funds from the international organizations. As pointed by the life cycle of a firm, MFIs will gain their momentum by getting profits and later might seek loans from the commercial banks to expand their capital. But is the transaction cost of MFIs starting with funds from the international organization the same as those which get funds from the profit-seeking investors?  Can anyone answer this?