Kohima-based organisation The Entrepreneurs Associates (tEA) -disbursed interest-free loans to 20 women street vendors in the Nagaland city to give them a chance to receive stress-free finances during a period post the COVID-19 pandemic.
Supported by Caring Friends Mumbai, the loans were handed over to beneficiaries during a event held at its head office on Monday. So far, zero Interest or interest-free loans have been disbursed to nearly 1000 women along with a few of its partners, reports East Mojo.
Introducing the Uplifting Women Street Vendors Program under which the loans are provided, tEAs CEO Neichute Doulo said that the organisation was committed to serve the interest of women, especially local vendors, who he feels have been greatly contributing to the local economy, the newspaper reported.
Speaking to the gathering of nearly 60 women, Neichute told East Mojo that with an experience of over two decades in the field of local entrepreneurship, tEA was aware of the difficulties that women vendors continually face.
The CEO said that to scale and grow their businesses, women vendors must learn to save 20% of their earnings.
