Monrovia – Montserrado County District #4 Representative Rustonlyn Suacoco Dennis has launched a LD$5 million loan arrangement for small business owners of her constituents.
Report by Gerald C. Koinyeneh – [email protected]
Under the loan scheme, 126 small business owners including men and women benefited from LD$2.5 million in its phase one project, while phase two will benefit dozens of people when it commences six months from now.
Speaking during the cash distribution exercise over the weekend in Paynesville, Rep. Dennis asserted that the initiative, duped “Empower Me” is part of her ten-year plan geared towards empowering small business holders excel to medium-size enterprises.
She also noted that it is the continuation of the loan program she started in 2010 but came to a halt two years later when she travelled abroad for studies.
“It was born in 2010 when I saw the need that lots of people needed just a spark up in their lives… I believe that there is no better way of giving back to the citizens than empowering them.”
“That’s why we have a ten-year agenda to help empower small business owners to gravitate to medium business and those that are at the level of medium businesses will be elevated to big businesses.”
“You have the power to make “Empower Me” live and tomorrow, when we are giving our history, your good name will be reflected,” she said.
The District Four lawmaker rubbished claims that Liberians always forfeit their payment when they credit from banking institutions and blamed the situation on high interest rate and short term given to creditors to pay back.
She boasted of offering a modest interest rate and ample time to her lenders; something she said has led to the success of the loan scheme over the years and called on financial institutions to partner with her.
“When people say that Liberians cannot pay debt, then I want to intervene and do more research on how they are giving these people their money and how long are they giving it for, and what is the interest rate for which they cannot payback?”
“So, if I will raise my voice for empowering the community, empowering women, I want to have the firsthand experience and my experience in the empowerment program as of now has been good by the grace of God,” she enthused.
Also speaking, the Project Manager, Sarofina Kibie, called on the beneficiaries to demonstrate the management skills acquired prior to getting the loan and live up to their part of the bargain.
To get the money is easy, but to pay back is a problem. So just how we fulfill our part of the bargain, please fulfill yours. It is time for us to grow and it is through empowerment we can do that,” she noted.
The beneficiaries thanked their lawmaker for empowering them and called on their colleagues to live up to the loan agreement.
“I am very happy because I am doing something now. My business is growing and my dream to have my own water factory is becoming a reality.”
“I am urging all my friends to be focus in our businesses and be able to pay back the money,” a delighted Angeline Johnson admonished.
Junior B. Karma added: “The banks have nothing called blood money or devil’s money.”
“It is the high interest rate and the short-term payment imposed by commercial banks that put us in problem with them.”
“So, let’s make use of this opportunity afforded us by Hon. Dennis to improve our lives.”