Tuesday, June 18, 2024

tEA provides interest free loan to 16 women street vendors

women street vendors

Kohima, July 3: The Entrepreneurs Associates (tEA) as part of its Uplifting Women Street Vendors Program today disbursed interest free loan (IFL) to 16 women street vendors.
Chief Executive Office of tEA, Neichute Doulo handed over the loan amount to the street vendors at Red Cross Conference Hall, Kohima. It is supported by the philanthropic group Caring Friends, Mumbai to enable women vendors expand their businesses.
Since 2021, tEA has supported over 1000 women from Nagaland and Manipur states with IFL.
tEA initiated IFL post pandemic under the Uplifting Women Street Vendors Program after observing that its women street vendors had exhausted their savings and over 91% of the women shared their inability to re-launch their businesses.
Speaking about the significance of the work with vendors, tEA Head of Communications, Neikule Doulo shared that the program evolved after studying the situation of women vegetable vendors over a prolonged period.
She also informed that the training which began with 16 women in Kohima has now spanned successfully in 3 states, which is inclusive of skills trainings.
Narrating her experience on the association with tEA, street vendor Lonyi Yalie said that it has transformed her life as she has received access to better financial and market linkages after attending the program a few years back.
A widow with three young children, Yalie said that though she has not acquired assets, she is extremely happy that this profession and the support from tEA is enabling her to provide decent life for her family.
Encouraging the 60 women street vendors present in the meeting, tEA CEO, Doulo asked them to prioritise their financial planning and ‘Pay self first’ by setting aside certain amount of money as the daily wage from their earning for future.
Ashoka & Schwab Fellow, Doulo sharing his experiences as a shop owner in his early venture into business, said they should maintain consistency and provide quality service to the customers.
He also urged them to think of long-term saving and planning instead of short term savings and also invest on assets for future progress.
Educating the women about the Street Vendors Act and its current status in Nagaland, panel lawyer from the Nagaland State Legal Services Authority, Kezhosano Kikhi provided an overview of the act. She also encouraged the women to organise themselves into pressure groups to fight for their rights and betterment.
tEA Operations Supervisor, Chunjanglu Gracy imparted in-depth explanation on proper budget planning and management of capital to the vendors.
The program also marked the introduction SAIL – Specialised Accelerated Intensive Learning, which will provide intensive business inputs to the women.
SAIL targets to impact 200 promising women with the potential for adopting improved systems and technologies with focused attention to help them progress and achieve economic prosperity sooner.
tEA Community Mobiliser Azonuo Chietsu chaired the programme while invocation was pronounced by Pastor of Kohima Ao Baptist Arogo, Bendang Walling. Assistant Manager, EATACOL Sentinaro Walling also provided some inputs into the services available for the women under the vertical programme of tEA and tEA Project Associate Lenu Neikha tendered the vote of thanks. (Page News Service)