OSAMCA To Disburse Loans To MSMEs Within 5Days - EDU-BIZNEWS


Saturday, May 13, 2023

OSAMCA To Disburse Loans To MSMEs Within 5Days

Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA) is currently working on ways to disburse loans to successful applicants within five days of submitting an application as against the initial one month period

The move is to  to make loan facilities more easily accessible for Micro, Small and Medium Enterprises (MSMEs) in the state 

Chairman, OSAMCA, Princess Feyikemi Egbeyemi, revealed this in Abeokuta during a two-day training for 40 Credit Officers, with the theme, “Effective and Efficient Credit Management”, saying the Agency would ensure a seamless loan process and disbursement that would not be more than five days.

Egbeyemi stated that Credit Officers need to effectively carry out an advisory role to potential loan applicants to ensure that only qualified applicants are allowed to buy loan forms, hence the essence of the training.  

 “As an Agency, our focus is not to sell forms without playing our advisory role. Our first job is advisory. Credit Officers need to harp on giving loan seekers the necessary advice and determine whether the applicants are qualified or not. This will also help us focus more on processing loan requests faster. It is important that only qualified entrepreneurs obtain loan application forms,” the Chairman stated.

Speaking on the provision of loans for assets, Egbeyemi who lauded Governor Dapo Abiodun for supporting the credit lending institution assured that the Agency would also work out modalities to help make it more convenient for Micro, Small and Medium Enterprises (MSMEs), who want to obtain loans to acquire equipment which would help their businesses to thrive.

Delivering a lecture titled, “Credit Management and Loan Analysis” Director, Loan and Investment, Mr. Bukunayo Oduntan, said Credit Officers need to be objective when credit worthiness of loan applicants is in doubt so as to aid the agency’s drive towards improved loan recovery.

Also, the Director, Administration, and Supplies, OSAMCA, Mr. Temitayo Odeyinka delivering another lecture titled “The Importance of Effective Communication in the Public Service and General Environment,” stressed the need for effective communication 

He explained the importance of  effective communication in achieving desired results, noting that inadequate communication could be detrimental to the actualisation of the Agency’s goals and might result in depression, suicidal attempts, hatred and lack of confidence.

In their remarks, two of the participants, Mrs. Motunrayo Odunmbaku and Mr. Olufemi Olubiyi lauded the management and the resource persons, stating that the knowledge gained would propel them to improve their service delivery.

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