Four get loans from PNGWiB

THREE Papua New Guinean women entrepreneurs and one professional woman yesterday received more than K72,000 in sustainable loans from the PNG Women in Business (PNGWiB), The National reports.

Small business owners Rebecca Haibu and Josephine Paul Ambaen from New Life Group each applied for and successfully received K1,000 while Josephine Chapiu was loaned K700.

These three women were the first grassroots women entrepreneurs to receive loans.

The loan is to assist the women with enough cash for their business.

The fourth, owner and managing director of Human Resource Business Solutions Linda Paru, was the first professional entrepreneur to receive a loan of K70,000 from PNGWiB.

PNG WiB president Janet Sape said the women had savings with the PNGWiB so they were eligible to apply for loans to further their businesses and support themselves and their families.

Sape said the payouts should be seen as an opening not just for grassroots women but also for professional women to come and apply for financial support.

She said PNGWiB, believed that women could do better and wanted them to have easy access to these funds as it was difficult to obtain loans from commercial banks.

Sape added that the financial training for women in Morobe was proving successful as many women now knew how to apply for loans.

She said these women were mostly illiterate, thus the training helped them understand how to plan and save their money.

The PNGWiB has so far loaned K107,400 to grassroots women in six months.