Rotary Club of Omole Golden has given 10 small scale business owners N50,000 credit facility each to improve their businesses.
Speaking at the ceremony held at Excellence Hotel, Ogba, Lagos, the club’s President, Idowu Afelogun, said the intervention fund was meant to give small businesses a new lease of life.
“We found out that so many young persons have had their dreams cut short as a result of lack of funds. So many others do not have the capital to move their business forward. That is why we decided to set up a micro-credit scheme to assist anyone in business,” he said.
The president said beneficiaries are expected to pay back in six months, adding that facility is open to all beneficiaries who faithfully repaid their facility.
Afelogun advised the beneficiaries to use the fund judiciously and be a good ambassador of their guarantors .
He urged the guarantors to continue to mentor their wards to ensure that they succeed in their endeavours, as their failure will jeopardise continuation of the project.