11, 000 entrepreneurs apply for CBN loans in Ekiti
Over 11,000 small and medium scale entrepreneurs in Ekiti State are said to have applied for loans through the state government under the N2billion EKSG/Central Bank of Nigeria (CBN), Micro, Small and Medium Enterprises Development Scheme (MSMES).
The state Commissioner for Commerce Industries and Cooperatives, Michael Ayodele, who made this known in a statement in Ado Ekiti, said the biometric data of 8,080 of the applicants have been captured in the exercise embarked upon to verify their claims and ensure disbursement of funds to only authentic entrepreneurs.
He said the first tranche of N500million would be disbursed as soon as the verification process is completed, adding that about 5,000 people would benefit from the tranche.
The commissioner said the scheme was being managed by the Ekiti State Government/Central Bank of Nigeria/Micro, Small and Medium Enterprises Development Fund Technical Committee (EKSG/CBN/ MSMES) and that funds would be disbursed through selected micro-finance banks to successful applicants. He appealed to proposed beneficiaries to exercise patience, stressing the need for thorough screening of applicants towards ensuring judicious use and recovery of the fund.