THE Linden Enterprise Network (LEN) is encouraging Lindeners to apply for loans in groups so that they can establish partnerships in order to stimulate economic growth within the town.

While the maximum amount that can be borrowed by an individual is $1M, residents who are interested in partnering with each other, are encouraged to apply for loans, which will allow them to access more money thus financing a larger business venture. Loan officer at LEN, Miss Neola Rogers, explained on Saturday at a women’s seminar that groups can access up to $10M, which will enable them to start-up companies.

Rogers, who is also a municipal councillor, encouraged applicants to think outside of the box, rather than to expand an already established retail business. Too many persons, the loan officer said, are applying to LEN to purchase goods to sell back, which is actually defeating the purpose of the financial institution. She added that residents need to put aside political and other differences to create business establishments in Linden, which will in turn create employment, as well as to develop the town. “We need to band together, put our resources together and minds together,” Rogers encouraged.

Similar sentiments were echoed by Minister of Communities, Valarie Yearwood, who was the former Chief Executive Officer of LEN. Yearwood said that while monies are available for loans, it will be difficult to access same if everyone comes in with the same business proposal of buying and selling. She was at the time responding to concerns of residents who claim that loans are difficult to access at the lending institution. “Everybody want buy and sell, if Len has 500 loans, 400 is people who want buy and sell, the economy cannot grow like that….money is there that you can borrow but if you come to buy and sell we will not give you because we have enough of that, you have to come up with stimulating ideas,” Yearwood explained.

Minister of Finance, Winston Jordon, while addressing residents of Amelia’s Ward also promised to support Linden in every way possible, especially in the area of value-added production. Jordan told Lindeners that he was not happy with the way things are in the town and encouraged the residents to let their voices be heard for betterment. “I need to hear from you, don’t just remain silent Linden, I want to see more than what I have been seeing over the last few years, begin to organise, whether individually, collectively, get involved in business… Jordan urged the residents.

For the first time since its establishment, the Linden Enterprise Network (LEN) received an allocation of $150M, which saw a massive relaunch of the establishment in December of 2015.

$100M was appropriated for business loans, which many Lindeners, especially young people, benefited from. President Granger at the launching said that the glory days for bauxite was over and urged the people to be more enterprising. “LEN has opened a new door for self-employment within the region as this profession encourages one to save… we are going to ensure that LEN remains viable as not starved of resources as Linden will become a womb of entrepreneurship,” he posited.

Almost two years after the launch, scores of Lindeners benefitted from loans to commence or expand their businesses, but the economic situation in Linden has been described in many quarters as stagnated and LEN officials are blaming this on the lack of stimulating manufacturing ideas in which the monies are being used for.