The National – Wednesday, December 29, 2010
TWO small entrepreneurs have become the first recipients of the National Development Bank’s new credit schemes.
Under the new women in garments credit scheme, owner and manager of Yumi Yet Tailoring Gia Vada applied for, and received, K100,000 from NDB for working capital.
Part of the money would be used to buy a bus for her business.
Launched this year by Treasury and Finance Minister Peter O’Neill, this government initiative has provided a K2 million boost to the new enterprises.
Since then, the number of applications from women across the country has started to pour in.
Completely satisfying all loan requirements, Vada obtained her loan from the bank in just two days, making this the “fastest loan process in any banking institution’s history”.
The other successful applicant, Robert Bakuali, had his loan application approved and his cheque for K116,665.34 delivered in just one day after submitting his loan application to the Hela credit scheme.