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Provision of Micro Credit finance to community residents of Isolo,Lagos
Our need assessment conducted at Obada Market in Isolo, Lagos Nigeria revealed that high cost of funding practically handicapped the businesses of the petty traders. Also,the requirements needed to access the funds at the financial institutions cannot be met by the traders which falls in the category of informal sector. we came to the aid of the indigent ones by providing an interest free Micro Credit in the sum of N500,000.00 ( Five Hundred Thousand Naira) targeted at enhancing the businesses of the first set of 20 beneficiaries that would use the money for a three month period before passing it to another set of 20 people.The nature of the beneficiaries businesses are plantain sellers, pepper, meat , fish seller, carpenters, tailors, barbers , hair dressers e.t.c. It is a revolving fund.