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MICROFINANCE INSTITUTION BUSINESS PROPOSAL

Amount Required:

$15,075.00

Other Resources Required

An open office within the market area 3 complete computer system 1 photocopy machine 1 slit aircondition 1 digital camera and printer 3 office table / chair 1 generator

Project Description:

OBJECTIVE: The objective is to assist low income traders to improve their business and freeing them from servitude,lunching them into world of enterprise.

TARGET: The target are the already existing traders who have a permanent place of trading or where there is a group of traders that has an association like well known market.

FOCUS AREA : ILEPO OKE-ODO / AGEGE MARKET

PRODUCTS :

Daily loan : The loan will be in ranges of NGN 20,000 to NGN 50,000 for a start,interest of 10% payable everyday,for NGN 20,000, NGN 1050 daily for 22 days NGN 1000 repayment and NGN 50 for the customer savings,for NGN 50,000,NGN 2100 daily for 27 days,NGN 2000 as repayment NGN 100 for savings.

WEEKLY LOAN: Our weekly loan will be in the range of #50,000 to #100,000 for a start,with interest of 14% on weekly repayment for NGN 50,000 NGN 5000 for 11 weeks,for NGN 100,000 NGN 10,000 for 11 weeks.

We are starting with just these two products, as time goes on we have a lot of product to be included. Sir/Ma this business is a very profitable one as I have been in it for the past 6 years and I have all it takes to handle it.

INVESTORS
An investor that shares our vision is expected to invest a minimum of #250,000,Two hundred and fifty thousand naira only.

INVESTMENT REPAYMENT
Interest rate of 10% for 2months is paid on the amount invested,if investors so required ,both interest and principal can be paid along side.

Above #1million will be negotiated by investors.


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About Project Owner

AFOLABI

resides in Nigeria.


Project Submitted: June 10, 2014

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