LEDFC to Decentralize Loan Distribution

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The Liberian Enterprise Development Finance Company (LEDFC) has promised to decentralize the provision of loans to other counties to enable citizens contribute meaningfully to the economy and living standards.

General Manager Ambrose G. Houphouet made the assertion at the Carols Night held Friday at the offices of LEDFC in Congo Town. The occasion was witnessed by many of its clients from other parts of the country.

He said by 2016, the organization will decentralize its activities to other counties, including Grand Bassa, Nimba, Grand Gedeh, Bong and Lofa, among others, to provide Liberians to easy access to loans.

Mr. Houphouet said LEDFC is a non-bank financial institution registered in Liberia that provides financing to enable Liberian small and medium enterprises (SMEs) to start up, upgrade, and expand.

Mr. Houphouet said this will enable Liberian entrepreneurs access capital to create, expand their businesses, and create jobs in the private sector.

“If you give out loans, there is a need to have an aggressive strategy to recover the loans whether in Ghana, Ivory Coast, and Liberia. We make sure to call the clients when they have to pay.”

He said the organization is also involved in providing technical assistance to clients, coach people on how to improve their businesses.

“We visit our clients, including those in rural counties and see if they have difficulties and try to suggest new ideas that will support the growth of their businesses. If there are challenges, we also help them to pay and not to give money,” he explained.

He said the Carols Night was organized to bring together their clients from other parts of the country, which focused on special messages from the Bible and songs that touched the minds of its clients during the Christmas season.

Mr. Houphouet added that he was excited in having an occasion that brought together beneficiaries of LEDFC, considering the challenges during the Ebola crisis in 2014 and subsequently to 2015.

In special remarks, George Kailondo, a local businessman and landlord of LEDFC, expressed appreciation to the finance institution for the level of support to Liberian businesses and called on business owners to take advantage of the opportunity.

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