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Star Wheels Shines With NDB
The idiom “Practise Makes Perfect” is the principle Getruth Merebo has applied when it comes to obtaining funding assistance from NDB to grow her family business and venture out on her own.
“The more I get loans to assist my business, the better I become at simultaneously managing the family and my own business for both to be successful and I am becoming more strategic and diligent in my repayment behaviour to ensure I am up to date,” Mrs Merebo said.
Caption: (L-R) Mrs Getruth Merebo receiving the keys to her two new NDB funded vehicles for her Star Wheels Hire Car Business by NDB Head of Branch Network David Munaga.
Getruth Merebo is the owner of Star Wheels who currently operates a PMV and Hire Car Business in Kavieng, New Ireland Province.
Getruth obtained her first motor vehicle loan in 2021 under Star Wheels to provide PMV service between Kavieng and Namatanai as well as Hire Car service for corporate hire and/or hire by guests at Kavieng Niu Lodge, their family business.
While this was Getruth's first loan under Star Wheels, it was in fact her second loan with NDB. “My first loan with NDB was for the family business Kavieng Niu Lodge in which my husband and I took a Commercial Loan for K1.3 million for land acquisition and construction of the new hotel wing,” Mrs. Merebo said.
“I was and still am in charge of Accounts, procurement and especially repaying the big loan for Kavieng Niu Lodge. I started doing two weekly repayments in a month instead of the required monthly repayment and it proved to be quite beneficial. Monthly loan repayments were done in full, on time every time which completed the loan repayment smoothly,” Mrs. Merebo added.
Drawing from this experience, Mrs. Merebo decided to start her own business (Star Wheels) and approached NDB for funding assistance. Mrs. Merebo successfully repaid this loan five months earlier than the 24 months loan repayment term which was in June, 2023.
Mrs. Merebo revisited NDB for Star Wheels second loan for additional fleet for hire car purposes which was funded last week.
NDB’s Head of Branch Network David Munaga who was on his scheduled Branch visit to Kavieng paid Mrs. Merebo a surprise visit to present the keys to her two new NDB funded vehicles. “I was pleasantly surprised, overwhelmed and humbled that Mr. Munaga while on an official trip came to Kavieng Niu Lodge to present the keys to me,” an elated Mrs. Merebo said.
“News of the small but significant key presentation has drummed up so much interest in Kavieng Town with people asking question about how they can also get funding assistance from NDB and I am gladly referring them to the Kavieng Branch,” Mrs. Merebo proudly added.
“NDB to me is second to none. It’s the best business partner with low and affordable interest rates. Where my family business Kavieng Niu Lodge and my own business Star Wheels are today is because of NDB’s funding assistance and I cannot thank NDB enough. As long as I continue to run my business and need funding assistance, I will always go to NDB,” Mrs. Merebo reaffirmed.
The two new funded vehicles are already booked for next week right through to the whole of June and Mrs. Merebo is already preparing for her first loan repayment at the end of this month.
Acting Chief Executive Officer Ms. Vicky Vene congratulated and commended the Merebo’s on their business success and choosing NDB as their bank of choice for funding assistance. Ms. Vene said NDB is the people's bank and it is mandated to assist Papua New Guineans achieve their business dreams and aspirations.
“NDB has branches all around the country to assist our people. We’ve improved our loan features for MSME loans at 4% Interest Rate. Just as long as you can meet the loan requirements, NDB will assist with funding,” Ms. Vene added.
Ms. Vene thanked the NDB Board for leading the Bank to drive the Marape Governments SME Agenda, under the leadership of Minister Duma and Kumul Consolidated Holdings (KCH).
Caption: Head of Branch Network David Munaga with Mr & Mrs Merebo, owners of Kavieng Niu Lodge.