OGIGE SELF HELP MICRO CREDIT SCHEME

This is for the petty traders who belong to group/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 fifty thousand naira.
• The group opens association account for weekly contribution by all members
• This group account sureties the loan collected by individual members
• Weekly contribution is compulsory based on agreed amount.
• The duration of the loan will be decided each time a beneficiary is in need of a loan.
• Amount can be increased for groups that performed well.

BENEFITS:

• It enriches the active poor
• COT free account
• Brings stability to the family and community
• Educates the poor on banking culture
• Brings grassroot development
• Prizes to be won by groups that perform
• Free technical support on investment possibilities