The Belize Natural Energy Charitable Trust and La Immaculada Credit Union Limited have teams up for a novel micro-credit enterprise. The Trust has earmarked three quarter million dollars that has been set aside for micro loans through the credit union. It's called the Belize Natural Energy Charitable Trust Empowerment Fund and it was launched today in Orange Walk. We found out who's eligible:..
Daniel Guttierez, TRUSTEE - BNE Charitable Trust
"The interest rates on these LICU loans will remain competitive and be within the framework of what is expected of credit unions. That way the finding is not only easily accessible to those we want to empower but easily repayable. At the trust we believe that empowerment funding need not be expensive funding. It must be competitive and encouraging of the further growth and development of the individuals it serves."
Ena Martinez, President - La Immaculada Credit Union
"We challenge our young inventors, innovators, entrepreneurs and change makers to take advantage of this opportunity afforded by this fund to a make a positive difference that will enhance the social and environmental situation in our communities in time create employment and generate income."
Daniel Guttierez, TRUSTEE - BNE Charitable Trust
"If you have a dream, if you have a small business, if there is something you always wanted to do then this is the place for it. Also remember there are any number of Belizeans, small business owners who will probably have a lot of difficulty going through the banking system, but need to take their business up just that one notch, they just that little push to get them up a little more - that is what the empowerment fund can do for you."
Ena Martinez, President - La Immaculada Credit Union
"This money can be used by our member/owners to help themselves open up their little businesses, but they have to be responsible, they have to follow up their businesses in a way that they produce, they get results from it and we will be monitoring them in that way to be able to ensure that what they are doing is definitely going to bring good financial results."
This is called the first phase of the fund.
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