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Byline: Kingsley Adegboye
MOST small scale business owners in the country have found it extremely difficult to expand principally due to the lack of access to loans from financial institutions.
This inability is mainly as a result of the stringent conditions attached to such loans. One of the conditions demanded by financial institutions before loans are granted is the provision of the necessary collaterals. The inability of small investment owners to provide such collaterals has often led to the non-expansion of their businesses.
All that may soon be over for micro investors particularly poor women. This optimism is anchored on the establishment of LAPO micro investment support services which is one of the subsidiaries of Lift Above Poverty Organization (LAPO), a body set up to lift poor women above the poverty line.
Head, Information & Advocacy of LAPO Group, Mr. James-Wisdom Abhulimen said the main idea behind the establishment of the micro investment support service is to promote investment and acquisition of income generating assets amongst beneficiaries. The support service is …