No fewer than 10 small-scale business owners were, on Thursday empowered after they were given N50, 000 credit facility each, by the Rotary Club of Omole Golden to improve upon their businesses.
It was the second tranche of an interest-free, micro-credit scheme established by the club to assist young Nigerians in boosting their business, and it is coming after the first set of 10 beneficiaries had obtained the loan earlier in September.
Speaking at the ceremony held at Excellence Hotel, Ogba, Lagos, the club’s President, Mr Idowu Afelogun, said the intervention fund, which had grown over the years, was meant to give small businessmen suffering from cash flow crisis 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 who could afford to start their businesses 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.
Afelogun said that the club also engaged in vocational and skill acquisition training and some of its graduates had also benefited from the scheme.