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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.
Community, Community economic development
30 September 2015
23 November 2015
Ikeja, Lagos State, Nigeria (Rotary Club)
Tosin Adebowale Kadiri, Ikeja | contact
Community assessment: How the project team learned about the community’s needs
Project impact: How the project will help the community after the project ends
Sustainability: How the benefits of the project will continue afterward