ENB savings society launches loan programme for SMEs

Business

THE East New Britain Savings and Loans Society has launched its third loan programme with Gazelle’s small-medium enterprises (SME).
Gazelle administrator Allan Balbal said the district development authority (DDA) board agreed to continue to support the SME Women in Business by putting K200,000 towards the loans society for this programme alone.
“Most women have the business potential in families but they need the support to help their business grow,” Balbal said.
Only qualified and registered members of ENBSL could access the loan at the bank.
Members should have 15 per cent deposit to start as the capital to access the loan with 6 per cent as the interest rate.
President of Gazelle Women in Business Margret Sova said the SME programme was an initiative of the women of Rabaul and Gazelle to alleviate poverty in families.
All women in the district were urged to be part of the programme.
The loans society also will be running a financial literacy programme covering savings and budgeting, plus the SME programme and business development skills training.