A Non Governmental Organisation (NGO), Paseda Legacy Foundation, yesterday started the disbursement of N10 million loan to over 4,000 women in the State, in efforts to improve their financial status.
Among the beneficiaries of the loan were petty traders, market women and artisans, which was done through the Foundation’s arm- Paseda Women Forum (PWF).
The Forum’s President, Mrs. Olayemi Layeni, who spoke at the flag off ceremony, held at the Foundation’s Secretariat in Abeokuta, the state capital, disclosed that the zero interest and guarantor free soft loan was targeted at Small-scale business owners to boost their businesses.
She explained that the loan, as an empowerment scheme, was to lessen the burden of the economic downturn on the beneficiaries, stressing that the loan was given on merit to qualified applicants and enjoined all beneficiaries not to see the gesture as a “national cake” but as an avenue of aleviating poverty in the society.
Layeni noted that scheme was designed for easy repayment. As a result, all beneficiaries must act within the confines of the terms and conditions to allow other beneficiaries benefit from the scheme.
“As long as you are a member of PWF in Ogun State, you are qualified to apply for the loan, irrespective of your political party or religion.
“All non-members of the forum can also benefit from this empowerment. All they have to do is to register as member at any PWF ward in Ogun State, and once you’re a member you’re eligible to request for this loan. Both new and old members of this forum would benefit from this assistance which would be administered at Paseda Legacy Foundation office in Abeokuta,” she said.
Speaking on behalf of the beneficiaries, Mrs. Remilekun Sowemimo, commended the Foundation for the gesture, saying the loan would go a long way in enhancing the financial status of women in the State.
She said: “This money was given to us to trade and we are going to use it judiciously. The loan will no doubt enhance our financial status, most importantly, it will help us to be financially independent and we won’t have to be liabilities to our husbands again.”