MASLOC to give loans to over 400 market women in Sekondi-Takoradi – Skyy Power FM

The Micro Finance and Small Loans Centre (MASLOC), a government agency aimed at supporting vulnerable populations, says it will disburse small loans to over 400 people in the Takoradi Constituency in October.

Western Regional Manager for MASLOC, Mr Malik Botchway revealed this during an interview on Skyy Power 93.5FM’s Jolly Breakfast Show on Friday, August 25.

Mr Malik Botchway said the loan disbursement will not only be in the Takoradi Constituency but in other constituencies such as Effia, Essikado-Ketan, Sekondi and others.

According to him, 20 groups have been selected in total for this loan all comprising market women.

“Basically they are all market women, one primary aim is to equip market women with capital… The groups will submit their list and we will work on it and proceed from there.”

He said there are no special requirements for the loan, but the groups must submit an official letter to the company and describe the use of the loan and the payback method.

“The requirement is for the group to submit a letter for the loan, we look at what they are using the loan for to confirm if they can pay back the loan depending on what they will use the money for, we will also give them some financial literacy on how to handle the money.”

He said the loans can also be given to individuals and not groups alone but since they are looking at a larger impact, the reason they are considering groups only at this moment.

Mr Malik added that any group interested in the loan can come to the MASLOC office for further discussion.

“We do individual loans as well, but this time we are doing for the groups, in the last months we have done some individuals and we are waiting to receive their cheques.”