MICRO-FINANCE RATES SHOULD REDUCE: MICRO-FINANCE MEMBER
A member of the South Pacific Business Development micro-finance project in Honiara says loan interest rates should be reduced.
Jemimah Anilafa who joined the project early this year pays off her loan weekly, from her market.
She says the interest rates should be reduced because she finds it difficult to save money.
“I find it good, but it is only the marketing part. Sometimes I can get money quick, but sometimes no, like that. And we have a lot of children so it is a bit difficult for us too. Our children go to high School, so we came to join to save some money for them but then we have to withdraw the monies again.”
Meanwhile, Anneth Matafu, another member who has been with the project for three years says the one-week period imposed for the loan repayment is sufficient.
“The one week period of time, I can see the hundred dollars I need to change my loan. I mean it’s easy for me, and my husband also helps me to change my loan. Who else joins this loan(scheme) I tell you we join this loan because it really helps us women, and I advise you to stick with SPBD because it is very helpful.”
SIBC News understands the micro-finance scheme was recently proven to be successful in the country.