7,000 Entrepreneurs Get BoI Loan In Cross River
Entrepreneurs in Cross River State have a reason to smile.
The Bank of Industry, BoI have breathed lives into some businesses through a micro-credit scheme.
BoI was said to have disbursed micro-credit loans ranging from 50,000 to 100,000-naira to over 7,000 beneficiaries in the state under the Federal Government’s Enterprise and Empowerment Programme .
According to a statement from the bank, the Executive Director, Micro Enterprise, BoI, Mrs. Toyin Adeniji, stated this recently in Calabar during the presentation of loan certificates to beneficiaries in the state.
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Toyin explained that GEEP was one of the social intervention programmes of the Federal Government executed by the BoI to facilitate easy access to interest-free loans for market women, traders, farmers, cooperatives and youths.
“The GEEP programme is the one that touches the hands of the people and has immediate direct impact on their lives. It is also a micro programme, very easy to access and everyone is qualified to access once you are into one commercial business or the other.
“The programme is targeted at market women, artisans, youths and small holder farmers. Today, the government is giving out loans in the region of 50,000 to 100,000 naira. The loans are payable over six months and they are payable in weekly instalment so that it can be easy for the beneficiaries.”
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