Nagaland NGO : The Entrepreneurs Associates (tEA), a Kohima-based organization, has provided interest-free loans to 20 women street vendors in the state capital. The loans are part of the “Uplifting Women Street Vendors Program,” aimed at providing stress-free finances to women in difficult and sustenance businesses following the COVID-19 pandemic. With the help of Caring Friends Mumbai, tEA has given approximately 1,000 women and some of their partners interest-free or zero-interest loans.
|Zero Interest Loans provided to Women Street Vendors in Nagaland|
|The Entrepreneurs Associates (tEA) disbursed Zero Interest Loans to 19 women street vendors in Kohima on November 3, 2021|
|The loans are part of the ‘Uplifting Women Street Vendors program’ supported by Capri Global Capital Limited (CGCL)|
|The program trains and capacitates women street vendors and has trained 5500+ women so far across Nagaland and Manipur states|
|The loans were given to women who have attended tEA’s training programs|
|The program began with the training of 16 women vendors in Kohima in October 2017|
|The loans were of Rs 10,000 each|
|The program was started due to the observation that local women vendors were not growing in their profession unlike other business people|
The Entrepreneurs Associates (tEA) have taken a noble initiative to uplift the women street vendors of Nagaland by providing them with zero interest loans under the ‘Uplifting Women Street Vendors program’. These loans have been provided with the support of Capri Global Capital Limited (CGCL). This program not only provides loans but also trains and capacitates women street vendors to help them grow in their profession. The success of this program can be seen from the fact that tEA has trained 5500+ women so far across Nagaland and Manipur states.
CEO Neichute Doulo said that tEA is committed to serving the interests of women, especially local vendors, who have significantly contributed to the local economy. He also noted that tEA is aware of the difficulties women vendors face and how these loans can help them scale and grow their businesses. Doulo urged women to save 20% of their earnings, which can help them build their own micro transport facilities or buy their own plot of land in five years.
Challenges Faced by Women Vendors
Doulo also highlighted the challenges women vendors face, such as the lack of basic toilet facilities in the vicinity of their workplaces. According to tEA’s surveys, such instances have led to women falling easy prey to health complications and urinary infections. tEA has been advocating for better facilities for women vendors from government agencies concerned.
Innovation and Mental Health
During the event, attendees were educated about the need to innovate and seek new strategies to grow their businesses. They were also encouraged to be authentic in their businesses and grateful for the opportunities around them. The importance of caring for individual mental health was also emphasized, with experts sharing the need to be aware of one’s stress levels and acknowledge them.
tEA’s “Uplifting Women Street Vendors Program” provides a much-needed boost to women vendors in Nagaland. By providing interest-free loans and skill training, tEA is empowering women vendors to scale and grow their businesses, which is essential for their financial independence and the local economy.
FAQs – Nagaland NGO Provides Interest-Free Loans to Women Vendors
1. What is the “Uplifting Women Street Vendors Program”?
– It is a program initiated by tEA to provide interest-free loans to women street vendors in Nagaland, aimed at providing stress-free finances to women in difficult and sustenance businesses post the COVID-19 pandemic.
2. How many women have benefitted from the interest-free loans?
– Nearly 1,000 women have received interest-free loans from tEA and its partners.
3. What kind of skill training is provided to women vendors?
– The skill training provided by tEA includes food processing, soap making, and other income-generating activities.
4. What other challenges do women vendors face?
– Women vendors face challenges such as the lack of basic toilet facilities in the vicinity of their workplaces, which can lead to health complications and urinary infections.
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