NBSSI Grants 18mC Loans To Micro Enterprises
Sunyani (B/A), June 23, - The National Board for Small-Scale Industries (NBSSI) has granted loans totalling 18 million cedis to operators of micro enterprises in the Brong Ahafo region. The loans were granted by the Business Assistance Fund on behalf of the NBSSI to enable the operators to expand their businesses. Among them are women's groups, small-scale manufacturers and eight senior secondary schools which received 2.4 million cedis each to undertake ventures under the Junior Achievement Programme. Mr Ishmael Ibrahim, NBSSI regional manager, told the GNA in an interview today that screening committees have been set up in 13 districts of the region to assess and recommend loan applicants. Priority is given to those involved in the service and manufacturing sectors. Mr Ibrahim said to qualify for the loan, the operator should have a registered business or unit with a banking account. The operator is given the loan only after undergoing a short course in management, accounting and record keeping to enable them to judiciously use the loans to improve their operations. Individual beneficiaries are given a maximum of 300,000 cedis each whilst groups which should be made up of between five and ten members receive credits from one million to 2.5 million cedis. The loans are to be refunded over a ten-month period at an interest rate of 15 per cent. He said the BAF package is a revolving fund and therefore appealed to the beneficiaries to refund on schedule.