PASEDA KICKS OFF PHASE II OF N10 MILLION NAIRA LOAN ON FRIDAY

The second phase of Paseda Women Forum N10million zero-interest loan for petty traders in Ogun East Senatorial District would kick off on Friday, at ORP - PLF Secretariat, No. 23, Bonojo Rd, Ijebu -Ode, Ogun State.

According to the Forum President, Mrs. Folayemi Layeni, the second phase of the zero- interest soft loan, which would commence on Friday, would be given to small- scale business owners in the nine local governments in Ogun East District, upon the completion of their loan registration forms.

It would be recalled that the first phase of the N10million loan scheme took place in Abeokuta with over 100 initial beneficiaries.

Layeni emphasized that petty traders in Ogun East Senatorial District are usually the neglected group because they are mainly uncoordinated, on the streets and not in any main markets and as such, are the main group that would be considered for the second phase of the loan, urging all prospective beneficiaries to register with their ward coordinators in all the nine local government areas of the State.

She however stressed that the exercise was in continuation of the on-going financial loan to qualified women from over 4000 members of Paseda Women's Forum, as targetted beneficiaries for the loan scheme.

Layeni noted that the loan scheme has been 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.

She explained that the loan empowerment was organized to lessen the burden of the economic downturn on women petty traders in Ogun State, believing facilitating, assisting and further developing the small scale petty trading businesses, is the way forward.

"As long as you are a petty trader and a member of PWF in Ogun State, you are qualified to apply for the loan, irrespective of your political party, religion etc and as long as the applicant is ready to return the loan within the stipulated ease period, in order to allow other beneficiaries to partake in the programme."

She noted that, non-members of the Forum can also benefit from the empowerment, urging all prospective members to register at any PWF ward in the State to benefit from the loan.

Layeni therefore, enjoined all members on membership drive, to enhance the number of beneficiaries.