18 June 2014

Liberia: 400 Petty Traders Get Micro Loans

More than 400 petty traders in Robertsport, Grand Cape Mount County have begun receiving loans to upgrade their small scale businesses.

This was disclosed at the weekend by the Coordinator of the National Petty Traders Union of Liberia (NAPTUL) Grand Cape Mount County branch, Sammy Dorleh.

He told the Liberia News Agency that the loan is being given out in five categories, namely, L$5,000, L$8,000, L$10, 000, L$ 20,000 and L$50,000.

He said the loan was made available by the national headquarters of the Union in Monrovia to help build the financial capacity of union members who are petty traders.

Dorleh explained that the recipients of the loan are advised to pay back the money within a three-month period, so that the Union will have the opportunity to expand the project to other parts of the county.

He said the money was obtained from the Central Bank of Liberia (CBL) by the executive committee of the Union to encourage petty traders to remain in business.

Meanwhile, Dorleh has commended authorities of the CBL and the Union for providing the loans to petty traders, adding that the money will help enhance their incomes.

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