INTEREST FREE LOANS FOR JUST A YEAR. Governor Mimiko of Ondo state has given out loans worth millions to artisans and traders to help them cushion and hone their vocations or trades. Good laudable gesture.... But how does he expect these people to pay back within a year when the first year of every viable business most are battling and saddled with the teething problems associated with new businesses? Where is the moratorium period to help them cushion the short fall in the first year and break even in the second so as to be able to pay back hitch-free? I am an entrepreneur i know how difficult it can be and i can only but imagined how it would be for this category of business people. The pressure would be so much on these simple folks and the Micro Finance Banks dealing with this loans would use this opportunity to display their Shylock tendencies and attitudes to harass these poor folks. Some things are just best to be left alone. I would refuse this loan, it is not worth it, too cut-throat kind of favor. Mimiko if you mean well give them a moratorium period and give them a longer payment period. This could turn out to be some burden in disguise. Our leaders dont think..... #Troubleshooting methink#.
Posted on: Fri, 11 Apr 2014 21:47:02 +0000
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