The Entrepreneurs Associates (tEA), a Kohima-based organization, distributed interest-free loans to 20 women street vendors in the state capital in support of its mission to alleviate financial stress for women in difficult and sustenance businesses following the COVID-19 pandemic.
Upheld via Caring Companions Mumbai, the credits were given over to recipients during an occasion held at its administrative centre on Monday. Nearly 1,000 women and a few of its partners have received zero-interest or interest-free loans thus far.
Presenting the “Inspiring Ladies Road Merchants’ Program” under which the advances are given, tEA’s President Neichute Doulo said that the association was resolved to serve the interest of ladies, particularly nearby sellers, who he feels have been enormously adding to the neighbourhood economy.
Neichute addressed the nearly 60 women present and stated that tEA was aware of the challenges that women vendors consistently face because of her more than two decades of experience in the field of local entrepreneurship.
The CEO stated that women vendors must learn to save 20% of their earnings in order to scale and expand their businesses. In five years’ time, he said that ladies would have the option to construct their own miniature vehicle offices or purchase their own plot of land with the reserve funds, which thus would extraordinarily support their confidence and give them certainty.
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Neichute also talked about the difficulties of vending. Women vendors have admitted that they don’t drink water while they’re working because they don’t have access to basic restrooms nearby or because they want to save money even though they have pay-and-use facilities.
tEA’s overviews, he informed, have uncovered that such occurrences have prompted ladies to fall simple prey to unexpected issues and urinary contaminations. He informed that tEA has been pushing something similar to government offices concerned.
