GIVEN the positive response received from Lindeners for its housing drive, the Linden Enterprise Network (LEN), the small business financier in Linden, is considering expanding the programme to residents on the Wismar shore.

The organisation has only been constructing houses in Amelia’s Ward. Senior officer of LEN, Dominic Henry, related that, initially, the project catered for two bedroom houses constructed of strictly bauxite overburden interlocking blocks, but since more clients were coming on board, contractors had commenced using concrete to meet the growing demand. “We still hold the indigenous material which is the bauxite overburden dear to the project, and so the interlocking blocks are being used to the front and back as the project initially set out to do,” Henry said. Now the organisation was able to recruit contractors who are more skilled in the laying of the interlocking techniques, and therefore the houses were looking more attractive.

While Linden Bricks Inc, the company that manufactured the blocks in Amelia’s Ward, has ended operations, Henry said that the company has some quantity of bauxite blocks stock-piled but since no one in Linden is presently manufacturing, he was urging business-minded residents to think of getting into a similar business and LEN would be sure to come on board with financing, if needed.

The organisation continued to work with the New Building Society as a partner in the housing project, but was also looking to widen the horizon and seek out other commercial banks that were willing to come on board, to finance the construction of the low-income houses and to take in applicants that generally do not meet the requirement for home financing. “LEN is providing some amount of comfort for persons who may not meet the requirement so that they too can be able to afford a home,” Henry said.

The two-bedroom houses cost $3.5 M, while the three-bedroom houses cost $4.5 M. The mortgage payment for the successful applicants was relatively lower compared to those that meet the requirement for mortgages at commercial banks. Those that benefit include low-income earners and single mothers.

Henry said that LEN will be pushing for the housing project to grow to another level, so more and more Lindeners can own their own home. The houses, which have the same facilities as regular two and three-bedroom houses are constructed at a lower comparative cost of $7M to $8M. In addition to the bedrooms, each has a washroom area, a living room, dining space and a kitchen. The houses are also cooler, since the bauxite bricks are very dense, thus heat takes a longer time to penetrate them.

This housing project is part of LEN’s five-year Strategic Development Plan, which is a guide for further expansion and diversification of the company. Although LEN continues to receive a yearly subvention from the Ministry of Finance, the latest being $200 M in 2019, it is also aiming to acquire financial self- sufficiency rather than being totally dependable on the government.

Rather than focus only on financing small businesses at a low interest rate, LEN has been targeting every sector where diversification is possible, such as agriculture, manufacturing, construction, and hospitality. It has also targeted several of the outlying communities in Region Ten, so those residents can benefit from the many offers from the company.