The National Development Bank’s Women in Business Desk provides an avenue for financial source for women involved in the small to medium enterprise (SME) sector. The WIB Loan Product offers two specific loan packages; the Start-up Loan Package for women who want to start up their business and the Grower Loan Package, for women who have existing businesses and want to expand or grow their business.
The start-up loan package features loans ranging from K5000 to K100, 000, equity of 30% and offers the WIB guarantee scheme that covers any security short fall by the client. The age requirement is from 18 to 55 years. The Grower Loan Package has the same features but provides funding for loans exceeding K100, 000. WIB Relationship Manager, Mataria Rupa-Tau says the two loan packages have become quite popular among women from all over the country. “Since the establishment of the WIB desk, more than 700 women have become beneficiaries of the scheme and with more than K50 million already been lent to assist women in their various business ventures,” Mrs. Rupa-Tau said.
“We have seen women come in with various types of business ventures and ideas. There are no restrictions to the type of businesses women want to operate, just as long as they meet our requirements we are happy to fund them,” Mrs. Rupa –Tau said. “These women come in from as far and wide to seek financial assistance notably under the start-up package and then go a step higher to the grower loan package and grow from strength to strength and even venture into new areas of business, which is very encouraging,” she added.
She made these remarks during an interview with a Japanese film company who were shooting a documentary on the NDB Women in Business Scheme and the challenges of women entrepreneurs in Papua New Guinea.
The crew from Ortas Japan were in the country for a weeklong visit and attached with NDB, indicating that the success of NDB’s Women In Business Desk has already become global. They conducted interviews with respective Heads of NDB and travelled to Wewak where they met and interviewed two of NDB’s successful WIB clients who proved that despite living in a male dominated society, women too can be just as successful.
The documentary will be aired on the 29th of March on Asia Insight on Television and online as well.