Admin l Monday, August 05, 2019
LAGOS, Nigeria – In the bid to bridge the gap between business owners and financial institutions , AgroWealth cooperative, over the weekend launched a quick interest free loan scheme for traders and artisans.
Speaking on the initiative , the Chief Executive Officer of Young Zoologist Enterprises and National President, AgroWealthCoop, Emmanuel Odekanyin, pointed out that the aim of the scheme is to bridge the gap between unbanked and financial institutions .
“Having gone through the rigours of trying to get loans from some financial institutions who raise the benchmark so high that the average small scale business owner finds it extremely difficult to access timely loans. The collateral and the guarantors required would sometimes take days, even months to perfect.
“At AgroWealthCoop, we decided to come up with this loan scheme to help small scale business owners who belong to our cooperative to secure fast and easy interest free loans.
” Our first official loan scheme witnessed 18 beneficiaries with each accessing a minimum of #15,000 interest free loan. We primarily engage in three focal areas to achieve our mission, which is farming, empowerment, and investment. We organise trainings on skill acquisition and human capital development to assist our members scaleup their individual/private businesses.
“We also offer agro investment platforms for potential investors on a short term, mid term and long term with an attractive and guaranteed returns on investment. We are currently based in Lagos but has a growing network in Nigeria and abroad.
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Is this loan scheme opened to business owners in other African countries?