SMEs owners in FCT want soft loans to expand their businesses

OWNERS of Small and Medium Enterprises (SMEs) in the FCT, have appealed to banks and the Federal Government to give them soft loans to enable them expand their businesses.

The traders made the appeal in separate interviews with the News Agency of Nigeria (NAN) on Thursday in Kuje.

Mr Abraham Gado, who is into the production of table mats and picture frames said his business was capable of employing about twenty people if adequately funded.

“I produce more than fifty table mats and picture frames every week but I have challenges to secure a big shop in Kuje market because of the high rent charged.

“The materials I use are of good quality but some customers will always want to see things made from China or USA.

“If my business is adequately funded, I can employ over twenty people for mass production, and even export them,” he said.

He, however, lamented the paucity of funds that had affected the growth of his business, and urged commercial banks and the Federal Government to assist him with a soft loan to boost his business.

Mrs Sarah Duza, a producer of tropical black soap, said that her product was of good quality and could compete with similar products anywhere.

She, however, decried the high cost of production, especially the fees imposed on them as a precondition for registration by the National Agency for Food And Drug Administration and Control (NAFDAC) and the Standards Organisation Nigeria (SON).

Duza said that her product had good patronage but had not spread far and fast because she could not afford NAFDAC’s charges for registration number.

She called on the government to give loans to owners of SMEs to enable them register their goods and outfits so as to grow their businesses.

Mrs Monica Musa, who deals on non perishable food stuff like beans, plantain flour and tiger nuts, said that her major challenge was her inability to access credit facilities.

“There is a processing machine that is sold for N500,000 and it is very important in my kind of business, but I cannot afford it.

“My major challenge is that I need a good shop and a packaging machine for mass production.

“If I can access any soft loan, I will buy a processing machine and my business will grow,’’ said.