The honourable member representing Oshodi-Isolo Federal Constituency 1 at the House of Representatives, Dr. Bashir Dawudo in fulfillment of his electoral promise has yet again facilitated soft loans for small and medium scale traders in his constituent.
It should be recalled that the first phase of this lofty program was done in August, 2023 where hundreds of traders benefited and were appreciative to the MHR.
The honourable member disclosed that in order to eradicate poverty and support small business owners, there is need to create a sustainable avenue where Small and medium scale traders will have easy access to financial aid to support their businesses and put food on their tables. He said artisans have been encouraged to form a cooperative society through which they will be able to access soft loans to support themselves.
The federal lawmaker disclosed that he will pay for the membership fees of each of the members, registration fee of the co-operative society and also give them a capital where they will be able to access with a very minimal single digit interests rate.
The program which was done in partnership with Smedan, will have beneficiaries being trained on how to properly prepare their books of account and other business techniques that would aid their sales.
Speaking at the event, Mrs Toyin Susan, representatives of SMEDAN disclosed that the MHR should be commended for pushing and bring home such program for the benefit of the constituents.
According to her; "we are here today to kickstart the financial support we aided to our small and medium scale business owners. Our people have been grouped into co-operative societies in relation to their trades, the MHR has paid for their membership fees, registration of the cooperative societies and also make available the capital where they can access soft loans with little and convenient interest rate. We have done for the first batch where several traders benefitted. This is the second batch and we shall train and group them into a sizable number to be able to operate as a cooperative society and access the loan in a convenient manner."
Dignitaries at the event advised beneficiaries to make the best use of the opportunity and expand their businesses.
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