NINE hundred people have, so far, benefited from the Guyana Bank for Trade and Industry (GBTI) and Ministry of Human Services and Social Security Women of Worth (WOW) loan programme, which offers single-parent mothers the opportunity to strengthen their financial and social capacity.

The disclosure was made Tuesday by Head of the Credit and Corporate Services Department of GBTI, Ms. Shaleeza Shaw.
In a telephone interview with the Guyana Chronicle, she said, last year, approximately 88 persons were beneficiaries of the scheme and, as promised, the bank has been revolving the funds, which means that, as loans are repaid, those who benefit can re-apply.
She stated that, for the year 2012, there was a total of 66 second- time borrowers, two third-time borrowers and one fourth-time borrower.
Shaw said it is very commendable that the women have been repaying their loans and some of them are even offering collateral.
She noted that the women take loans to start up small businesses, such as poultry- rearing, clothing stores, ice cream parlours and salons.
This WOW was launched in June 2010 and is geared towards advancing micro-financing to eligible single mothers, to provide a platform for assisting them to overcome the challenges they face in raising their families.
Each person can borrow between $100,000 and  $250,000 at a minimal interest rate of six percent and a maximum repayment period of 24 months. The fund caters for applicants between the ages of 18 and 60 years, earning of up to $40,000 monthly.
GBTI has committed a total sum of $500M for the purpose.