The Entrepreneurs Associates (tEA) disbursed Zero Interest Loans to 19 women vendors in Kohima. Supported by the Capri Global Capital Limited (CGCL), the loans are part of ‘Uplifting Women Street Vendors program’ which trains the women street vendors.
The 19 women who received the interest free loans of Rs 10,000 attended the training programs organized by tEA in the past.
Launched in 2017, tEA has trained 5500+ women so far across Nagaland and Manipur states.
Speaking at the program, the Head of Communications in tEA – Neikule Doulo, shared that the program aimed to support the local women vendors.
The program commenced with the training of 16 women vendors in Kohima, on October 2017; funded by well-wishers without any other external support.
The success of the initial program led to its expansion to other districts of the state and beyond Manipur.
Neikule noted that the ‘Interest Free Loans’ are the outcome of the pandemic lockdowns when tEA observed that vendors, daily wagers and labourers became completely unemployed and bereft of capital to even relaunch their businesses.
With the support of partners such as the CGCL, these interest free loans were launched in 2021 to enable small time traders such as women vendors and micro-business owners to get back on their feet. She also added that tEA has introduced skills trainings into the program and women vendors across the state will not be able to avail free trainings for food processing under the current UWSV program.
The Branch Head of North East Small Finance Bank in Kohima – Vepelou Koza, who was the resource person at the meeting shared about the importance of savings. She also encouraged the vendors to be honest in their financial dealings to build long-term trust with partners and funders.
Sharing her experiences as a vendor who is benefitting from the association with tEA – Mhabeni Ovung shared that the association helped her in scaling the business through the financial support. She also encouraged her fellow vendors to leverage the association and attain benefits from the programmes.
Organized by the non-profit wing – The Entrepreneurs Associates (tEA), the programme was chaired by Ms Azonuo Chietsu while the invocation was pronounced by Kaguigailu Dhangmei, Youth Director of Rongmei Baptist Church, Kohima. Ms Imtisenla Longkumer, Communications Assistant, tEA proposed the vote of thanks at the end of the program.