The Founder, Paseda Legacy Foundation, Otunba Rotimi Paseda has concluded plans to assist petty traders in Ogun State with N10 million naira loan through his Women wing, Paseda Women Forum.
According to the forum President, Mrs. Olayemi Layeni, the zero interest soft loan, which would commence next week Monday, would be given to small- scale business owners who have completed their registration with the forum, irrespective of the political party they belong to.
Mrs. Layeni disclosed this on Friday at Paseda Legacy Foundation Office, Onikolobo, Abeokuta while unveiling the mode of application to members across the 3 senatorial districts in Ogun State.
Layeni emphasized that, only registered members would be considered for the first phase of the loan, urging all prospective beneficiaries to register with their ward co-ordinators in all the local government areas of the State.
She however stressed that, the loan would be given on merit to qualified applicants, enjoining all beneficiaries not to see the gesture as part of their “national cake”.
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 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.
“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.
Layeni therefore, enjoined all members on membership drive to enhance the number of beneficiaries.