The Bishop of the Independent Catholic Church of Liberia (ICCL) Nimely Jackobly Donyen has given LD$157,000 as a micro loan to the Marketers of Wein Town Market on the Pipe-line Road.
The loan which is an initiative being funded by the Compassionate for Life, an American Non-Governmental Organization (NGO) in partnership with the Bishop has been boosting business activities of the marketers at various markets in Montserrado County.
Speaking at the presentation ceremony over the weekend at the Wein Town Market, the Bishop urged the beneficiaries to redouble their efforts and repay the loan in time as it was done when they received the previous loan.
“Please maintain your good repayment record so that the donors can be encouraged to do more,” he urged them.
The ICCL Bishop lauded the beneficiaries for exhibiting commitment toward their obligations assuring them that the process will continue as they meet their obligations regularly.
“The Interest rate is ten percent and you are going to repay the loan on June 7, 2020,”he informed the beneficiaries.
Speaking on behalf of the marketers who were seen in joyous mood singing songs of praises for the Bishop and the donors, Martha Davids, Superintendent of Wein Town Market admitted that the previous loan lifted their businesses.
She then challenged her colleagues for them to work even harder in order for them to maintain the good record which they have set for themselves by paying back the money on the prescribed date or even before the date, saying the loan is a blessing because the interest rate is affordable.
It is evident that the loan is transforming the businesses of the beneficiaries because testimonies emanating from them indicate improvement in their businesses and as such, they have promised to nurture the existing relationship.
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