In a brief remark, Urban Initiative loan officer, Sarofina B. Kibie, said the organization is giving the loan at a 10 percent interest rate.
The Montserrado County District #4 Representative Aspirant encouraged the beneficiaries mostly market women not to relent in paying back the money, noting paying back will make them credit-worthy.
“We are collecting a little interest of 10 percent and you are to pay this amount in six months time. We will be collecting the money on the last Friday of every month for the first phase. We are begging you that you collaborate with us; when the payment time comes don’t give us any story,” she said.
Madam Kikibie said Urban Initiatives is trying to empower women, most especially those that are unable to underwrite any financial cost.
The Executive Director of Urban Initiative Madam Rustonlyn S. Dennis also encouraged the women to pay the amount, promising a bigger amount in the next phase.
She said the loan is around LD$1.5Million intended to strengthen market women. She said the loan is a tryout test for the women to prove their critics wrong.
One of the beneficiaries, Madam Kebeh Agada, Head of the Shara Community Women, praised Urban Initiatives and Madam Dennis for the credit, noting it has come at the time when the women of Shara desperately need financial assistance.
She encouraged her colleagues to work hard and pay the amount and stop saying it is politician money. “I am selling in the market so this money will help me. I want to call on all those who received this money to try their best and pay back,” she said.
The ceremony took Place at the PYJ Education Foundation in Zubah Town, Duport Road, and Paynesville City.