Over 600 million naira has been disbursed to various trade groups in Ondo State, Governor Olusegun Mimiko in Akure, the Ondo State Capital said 189 small and medium enterprises and micro enterprises who were not accommodated in the previous loan disbursements under the scheme benefited from the recent one.
The governor who explained that the micro credit schemes was targeted at people who might not have access to secure loans from commercial banks said that the loan would be paid back with nine-percent interest rate; Governor Mimiko implored the beneficiaries to obtain their residency cards popularly known as Kaadi Igbeayo to be able to access the loans.
Distributing cheques to the beneficiaries, state chairman micro credit agency, Mrs. Banke Sortin advised beneficiaries to utilize the funds judiciously and guard against loan default and poor credit management.
Two beneficiaries, Mr. Daisi Komolafe and Chief Joseph Ajomole thanked the state government for the opportunity and promised to pay back as timely as possible.
Welders, carpenters, traders, community based Organisations, generator repairers among other artisans benefitted from the loan.
High points of the event include cultural display, and presentation of cheques to the beneficiaries.