OGIGE SELF HELP MICRO CREDIT SCHEME (OSHEMICS)
This is for the petty traders who belongs to groups/associations based on product line. Primary target audience is rural women, though men are not excluded
FEATURES
- Each member opens an individual account to access micro loans of not more than N50,000
- The group opens association account for weekly contribution by all members.
- This group account sureties the loan collected by individual members.
- Weakly contribution is compulsory base on agreed amount.
- The duration of the loan will be decided each time a beneficiary is need of a con
- Amount can be increased from groups that perform well.
BENEFITS
- It enriches the active poor
- COT free account
- Brings stability to the family and community Educates the poor on banting culture
- Brings grassroots development Prices to be won by groups that perform exceptionally well
- Free technical support on investment possibilities
