Entrepreneurs learn how to access loans

Business

Entrepreneurs in Turubu, East Sepik, are being taught how to access banking loans for their small businesses, especially in farming.
Training is being run by Bank South Pacific Finance country manager Brad Taylor and senior lending officer for Lae Napihine Tapo.
“Rural SMEs have the resources but to transform the commodities into economic value with the support of bank loans and skills of careful management to achieve the reality is an issue,” said Turubu local level government president David Kausik.
“However, since the inception of SMEs, the government kept investing millions into the National Development Bank but the processes to access loans there were too stringent for farmers.”
Kausik BSP Finance was asked to help farmers understand the lending system. “SME’s involving in poultry, cocoa, fishing, palm oil, coffee, piggery, vegetables, vanilla or alluvial mining need basics of how to get loans, open accounts and manage funds,” he said.

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