SMALL SCALE BUSINESS EMPOWERMENT LOANS
STRUCTURE
ONE - COMPOUND SUPPORT SCHEME (CSS)
If you can provide a community a borehole but
not empowered to ensure it is maintained, within a short space of time the
resources provided will be unproductive or fade away.
Poverty eradication is a very complex process
that needs concerted effort. This calls for all players to be involved in
facilitating this process. With reference to the definition of empowerment,
people’s capacities will be increased to be able to become players in the development
process.
What is needed is that in order to fight
poverty, no one should be passive and relaxed. However, many people due to the
situation they are in that renders them vulnerable, are unable to access
resources that could help them produce; left alone they are unable to get employment.
Empowering the prospective of producers and entrepreneurs would help create jobs
and would also increase productivity meaning individual food and financial
security will be enhanced. This will result in families better able to access
health, education and other basic necessities while contributing also to
national development.
Each compound in every town enlisted in the
CSS initiative shall form groups within their various compounds who shall elect
executives and access funds at BTA Foundation to boost and establish businesses
that would see to their self sustenance.
i.
This
category comprises of petty traders, Okada riders, shop owners, Commercial
drivers, market men & women and other categories of persons or traders that
shall thereafter be added.
ii.
An
applicant for CSS must have a specific skill or business that is viable economically
and visible, but need financial support to grow optimally.
iii.
He
/ she must join a CSS Compound group of BTA Foundation.
iv.
He/she
must be credit worthy, recommendable, trustworthy and be willing to be enrolled
under the Scheme.
v.
He
/she must have the vision to be financially self reliant.
vi.
He/she
must be hard working and goal driven.
vii.
He
/She must be willing to take micro credit, utilize the loan wisely and
profitability.
-
HOW TO BECOME A
MEMBER & HOW TO ACCESS LOAN.
i.
Make
enquiry from a nearby Compound group in your town or city.
ii. Join an established compound group or organize
his/ her own compound group if the group in your area is fully occupied
iii. Get the pioneer
group coordinator in your compound for her signature.
iv. New compound groups
are to make consultation with BTA Foundation to know the current stand of
groups in its compound.
v. There must be at
least 50 members in a new group for a start and must not exceed 100 members in
a group.
vi. Group members must
select their meeting days and time between Mondays and Sundays.
vii. They must elect
four executive officers; [i] Chairperson [ii] Secretary [iii] Financial Secretary
[iv] Chief Whip.
viii. Any new registered
group will now spend minimum of [2 – 6] weeks after their Executives’
inauguration before they can have access to first loan.
ix. The first twenty
five (25) members of a group would be granted loan facility, for a maximum
period of four (6) months.
x. The load granted to
each member shall be divided into equal tranches, and members are expected to make a
repayment monthly, on the last Thursday of the month, before 4pm. i.e if a
member is granted N20, 000 loan, such member is expected to pay N5000 monthly
until the loan is finally liquidated.
xi. Upon fully repaying
the first loan advanced to the group, the next set of Twenty Five verified
members will be granted loan.
xii. If the loan
advanced is not fully paid by all the twenty five members, the next set of
twenty five members shall not have access to loans and their loan amount
accessible shall be reduced by 50% from the stated accessible amount.
xiii.Upon paragraph completion
of xiv and there is no default from ANY member of the group, the group
qualification amount would be increased by 30% to 50% depending on the credit
history of the group as determined by facts and the BTA Foundation management.
xvi. Members must submitted
photocopies of all the necessary requirements before accessing a loan.
GROUP OBLIGATIONS
i.
Loan disbursement is based on availability of
funds in individual member compound accounts with us.
ii.
Serious
minded groups must inaugurate their executives between Second and fourth weeks
of their group formation.
iii.
There
must be at least 50 members in a new group and maximum of 100 members in a
group to access loan.
iv.
The
group members must have grown to fifty before applying for the Second loan
cycle.
v.
The
group members must have grown to seventy five before applying for the third
loan cycle.
vi.
The
group members must have grown to One Hundred members before applying for the
Fourth loan cycle which will be a condition to increase the groups’ loan
accessibility.
vii.
Group
members must bring their guarantors to the group meeting, who must be shown to
the executives, and must be certified to be fit and proper to guarantee the
group member, as this would be once in a life time.
viii.
Any
group member who has issues with his/her member must approach the group leader
to inform him/her of such and if there is any need for a change of guarantor,
such must be brought to the notice of BTA Foundation, otherwise, the group
leader and his/her executives would pay the loan obtained by such group member
if he absconds and guarantor can’t be traced.
ix.
The
group executives must sign, read the bye laws/information manual to its
members’ vivid understanding before applying for the first loan.
x.
Prior
to loan application submission, each members’ form is expected to be guaranteed
by the Group leader, Secretary and Compound Chief.
xi.
The
four executive officers must attend training and receive standing orders
guiding issuance of loans from BTA Foundation CSS Department.
xii.
There
must be prudent spending of the groups’ minutes’ fee.
xiii.
It
is the duty of the Group Secretary to document the minutes of meetings.
xiv.
The
group executives must ensure all repayments have been remitted to the CSS
department of BTA Foundation by each group members on or before the last
Thursday of the month.
xv.
All
members must agree on the spending of the minute fees.
xvi.
Any
Group executive or group member that uses people to obtain loan in a dubious
way will be prosecuted and blacklisted from the scheme.
GROUP MEMBER
OBLIGATIONS
i.
Members
are expected to pay a monthly minutes’ fee agreed to the group members monthly during the group meeting.
ii.
Any
member who does not pay the minutes’ fee would not be cleared for next loan.
iii.
Any
absentism from group meeting also attracts a fine to be agreed to by members of
the group.
iv.
Group
members must be punctual at meetings.
v.
Every
group member has the right to express his/her grievances on some key issues
that concern the group.
vi.
Any
member that does not pay the minute fees for the entire 12 months to the group,
will have to register afresh with BTA Foundation in the next year.
vii.
Members
must not engage in public fighting or assault and must respect each other at
meetings.
viii.
Any
member that defaults, upon being served a seven days demand notice shall face
legal action or has his/her property worth the default money being confiscated
to BTA
Foundation.
CSS ANNUAL GENERAL
MEETING
i.
All
members are required to meet once in a year to dialogue on ways to increase the
scheme.
ii.
All
members under the CSS are required to meet at a venue to discuss vital issues facing
the Scheme.
iii.
The
meeting provides an avenue for members to ask questions on issues, policies or
rules unclear to members and also brainstorm on how to effectively improve the
scheme and reach more beneficiaries.
iv.
To
outline the achievement of the scheme in the year.
v.
The
meeting would witness business seminars, talks, counseling and motivational
talks.
vi.
All
group executives are expected to ensure full participation of members.
vii.
The AGM will deliberate on the policies,
problems, and solutions towards having a sustainable of the CSS of the
foundation.
viii.
The
AGM of BTA Foundation shall be held every last Saturday in September of every
year at a single venue, which would be decided by the BTA Head office.
ELECTION OF WARD
EXECUTIVES
i.
Elections
of Executives at Ward levels shall be held at the Annual General Meeting (AGM)
of each year.
ii.
Each
Ward shall have a Coordinator, Secretary and Chief Whip.
iii.
The
Coordinator must have formed a minimum of One (1) group, who must have had to
full capacity, the One Hundred members required of every group under the CSS.
iv.
The
Coordinator could be a man or a woman.
v.
The
Coordinator must have the ability to carry his/her team members along.
vi.
The
Coordinator enjoys the privilege of applying for One (1) additional loan under
the CSS in addition to their statutory entitled loan application in his/her
respective group in a year.
vii.
The
Coordinator must be responsible, humble, agile and productive.
viii.
The
ward executives coordinate the activities of the groups in their wards.
ix.
All
ward executives are expected to have a meeting quarterly to brainstorm on how
to arrive at recommendations to move the foundation forward.
x.
All
ward executives are expected to meet with the BTA Foundation President on the
last quarterly meeting day of the year.
xi.
If
there are issues in any group, the ward executives are to mediate between the group
and proffer solutions towards tackling the issues.
xii.
If
the ward executive of the group cannot fully resolve the issues, the group
leaders and erring members of the group shall be invited to the combined
quarterly meeting of the Ward Executives for settlement of the issues.
xiii.
If
the Combined Ward Executives cannot resolve the matter, they shall make their
recommendations to the leadership of BTA Foundation, who shall appropriately
address the issues.
- REQUIREMENTS FOR
CSS LOANS
i.
CSS
Registration Form and Registration fee of One Thousand Naira (N1000) Once in a
life time.
ii. BTA Foundation Folder
& Manual (obtainable at the Head office or any branch) at the rate of Three
Hundred Naira (N500).
iii. BTA Foundation CSS
Identification card (obtainable at the Head office or any branch) at the rate
of Five Hundred Naira (N500).
v. 2 passport
photographs.
vi. Drivers’
License/Voters’ card/National I.D Card (Not NIN temporary card).
vii. Guarantors’ Form
viii. Guarantors’
Drivers’ License/Voters’ card/National I.D Card (Not NIN temporary card).
ix. Shop
details/proposal.
x. You must be a
Kwaran and from Irepodun Local Government.
