Ondo State Governor, Dr. Olusegun Mimiko has disbursed the sum of N402.5million as loans to Micro, Small and Medium Scale Enterprises in the state.
While speaking at the disbursement ceremony in Akure, he said “The first leg was in January where we disbursed N534.43million under the Micro Enterprise Scheme. Today, under the Small and Medium Enterprises Scheme, we are disbursing N402.4 million. And the next stage will be Micro Enterprises under which we are going to disburse another N220 .49million.
“All of these are geared towards re-energising your businesses, especially at the micro and small enterprise level. I want to thank all of you for your patience because it has taken some time to put all these together.
“Unlike the first phase, the micro enterprise phase, which did not require collateral in terms of Certificate of Occupancy, this phase of SME requires Certificate of Occupancy; it requires either group or individual enterprises to provide Certificate of Occupancy as collateral and it is one of the reasons it took some time to complete the processing of these loans”.
He urged the beneficiaries to use the loan judiciously to grow the economy of Ondo State.