More than 400 petty traders in Robertsport, Grand Cape Mount County are receiving loans to upgrade their small scale business establishments.
Sammy Dorleh, coordinator of the National Petty Traders Union of Liberia (NAPTUL) Grand Cape Mount County branch, made the disclosure over the weekend to the Daily Observer.
According to him, the loan is given out in categories of L$5,000, L$8,000, L$10,000, L$ 20,000 and L$50,000.
He said the loan was made available by the national headquarters of the Union in Monrovia to help build the financial capacity of union members who are petty traders.
Dorleh explained, among other things, that the recipients of the loan are advised to pay back the money within a three-month period, so that the Union will have the opportunity to expand the project to other parts of county.
He disclosed that the money was made available by the Central Bank of Liberia (CBL) and entrusted to the executive committee of the Union to encourage petty traders to continue in business.
Meanwhile, Dorleh has commended authorities of the CBL and the Union for providing the loans to petty traders, adding that the money will help enhance their incomes.
Grand Cape Mount County
This County is in the northwestern portion of Liberia, and is one of the 15 counties that comprise the first-level of administrative division in the nation. Robertsport serves as the capital. It has five districts, but the inhabitants of about a population-size of 129,055 mostly earn their living from petit businesses as well as subsistence farming.
The county is bordered by Gbarpolu County to the northeast and Bomi County to the southeast. The northern part of Grand Cape Mount borders the nation of Sierra Leone, while to the west lies the Atlantic Ocean—an ocean in which fishermen carry on fishing expeditions that feed the locals and at the same time, economically sustain themselves.
With the loan scheme, most the residents told the Daily Observer that they are of the hope that their living conditions will improve.