The launch of the Linden Enterprise Network (LEN) saw the awarding of 40 loan awards to Lindeners who presented a business plan for new and existing ventures. Even though LEN has been established since December, 2009, the lending institution was unable to award loans as they were in a dire need for financing.

According to IMC Chairman and LEN Board member, Orin Gordon, even though LEN had the best portfolio for a lending institution, there seemed to be some sinister plan to stymie the development of LEN and Linden on the whole.
The Board had made several engagements with the previous government to provide adequate funding for LEN but was only granted S4 million out of the $1.5 billion requested over the years.
“This inadequate funding was not in cohesion with the initial purpose of LEN to provide loans for entrepreneurial development,” mentioned Gordon. The objective of LEN was to provide loans for persons at the grass root level who were unable to meet the requirements of lending intuitions such as banks.
With the establishment of LEN, loans were to be easily accessible to the residents of Linden, unfortunately this did not occur.
NOW POSSIBLE
This has only been made possible now with the budgetary subvention of $150 000 000. According to the CEO of LEN, Valarie Patterson, this government funding has ended all of LEN’s woes and has also been able to present the first set of loan awards to persons within the community for the investment into new or existing businesses.
“ I cannot stop thanking the government, the President and the Minister of Finance, the Honorable Winston Jordon for his speedy response to our request since we have received funding in just a couple of months,” affirmed Miss Patterson. With this funding, massive repairs were conducted on the LEN building, all AC’s were replaced for the 30 tenants who share the building, all debts were paid off and staffs are now guaranteed their monthly salaries.

Minister of Business Dominique Gaskin alluded to the fact that the need for financial investment was a universal one and was needed more in Linden where there was a high unemployment rate.
“It is expected that this $1,000, 000 will kick start serious business activity within the town and the success of the programme depended on how well the loans would be utilised by the recipients,” posited the Minister. He added that the recipients should not be complacent as default on repayment would hinder continuous progress.
“If Mary gets she should pay back so that Tom and Harry could get,” advised the Minister, who is hoping that young people and women take advantage of this loan opportunity as women were less likely to stay in abusive relationships if they could sustain themselves.
GOOD VENTURE
Wayne Collins who was awarded a loan of $500, 000 thinks that LEN is involved in a very good venture and thanked the CEO and government for making the loans possible.
“I have a small grocery business and so I will be able to extend it and I am very grateful for this,” Collins said.
Shondell Gill who has a small salon also received a loan of $500,000 that will be used to purchase equipment to expand her services so as to further meet the needs of her customers.
Ken Charles was not only awarded a loan of $1,000, 000 but was fortunate to receive 13 weeks of training in entrepreneurship and business management organised by LEN.
“I feel like a king with this million dollar because I will be able to effectively invest it into my business and the training equipped me with the knowledge to do so.” “With the low interest rate, LEN has saved my chicken business and my agricultural business will materialise,” he said happily.
The new government was praised by the people of Linden for their interest in the town; that is especially evident is projects such as these. Regional Chairman Renis Morian made mention of the fact that Region 10 was now part of the developmental stream of Guyana.
President Granger vowed to continue supplying LEN with adequate funding as he aimed to alleviate poverty. In attendance were President Granger, Minister of Communities, Ronald Bulkan, Minister of Business Dominic Gaskin, Board Members, the Regional Chairman, Regional Vice Chairman, CEO of LUSCSI, members of the religious community, stake holders, awardees of loans and scores of civilians.

By Vanessa Braithwaite