NGO provides $1950 in micro-loans to help unemployed youth and women
12/18/2012 10:19:36 AM -
A Ghana NGO, has provided a total of $1950 in micro-loans to help local unemployed youth and women to start new businesses. The NGO the PAAJAF Foundation in partnership with Sinapi Aba Trust launched the Lifelong Initiative Network (LIN) project in the poor rural community in Gbawe to help improve living standards by providing micro funding, business management training and the spirit of entrepreneurship.
The PAAJAF Foundation (Providing Adults and Adolescents Jobs for Advancement in Future) identified 6 women and 1 youth (aged 23 – 50 years old) who have now received their first micro-loans that will lead to vast improvements in their lives.
Richmond, a young man aged 25, was senior high-school graduate facing unemployment; he tells how receiving the loan of $250 has given his family a new life. He says “Me and my wife are going to use the loan to trade in plastic bowls and it our plan to open a shop and sell them in large quantities. This loan is going to help us to take care of our children, feeding, school supplies, and healthcare.”
The micro-loans through the LIN project are supporting the long-term unemployed to start new trades; Priscilla aged 24 says “I was unemployed. I am going to use the loan of $350 to start a petty trade by selling second-hand clothing this will help me to look after my son and my family. After the repayment of this loan, I want to apply for another loan that can help me to open a shop.”
Doris, aged 29, received her first loan of $250 repayable in 5 months time. She will invest in her trade of selling apples and oranges so that she is able to support her husband to take care of their children. “I am a petty trader and I trade in selling apples and oranges. I didn't have money to invest in this trade so I couldn't buy large amounts of stock. This loan is invested in stock, now I will be able to earn enough to pay my wards schools fees.”
As a young hair-dressing apprentice, loan recipient Patience, aged 23, is about to complete her training in hairdressing. Through the LIN project she has been granted a loan of $400. Her goal is to help to start petty trading while she is still under apprenticeship of hairdressing. She takes care of herself and said “I am going to use this money to trade in clothing and cosmetics so that I will be able to get money to support myself during my apprenticeship also will help me to mobilize funds for my graduation. After that I will be saving towards shop a hair dressing saloon when I complete my training.” The PAAJAF Foundation together with Sinapi Aba Trust will support these new entrepreneurs in their ventures.