Bearing the Concern of the Poor
SOPCALP has a long running microcredit program which aims to support the growth of local businesses. Prospective rural business owners are usually incapable of accessing standard financial services offered by banks due to barriers to entry such as need for collateral and qualifications rural dwellers may not necessarily possess.
SOPCALP, in collaboration with other organizations, provides interest-free small loans to members of the community. These loans have been targeted at women groups and young people. Prospective loanees, in line with our objectives, are usually advised to become organized into groups though this is not a prerequisite to receiving loans from SOPCALP.
A core dimension of this program is capacity development. Persons who who benefit from the loan program are usually equipped with the technical and business skills to manage and grow small businesses.
Over the years, SOPCALP has disbursed more than 30 million naira in various forms and has empowered about 5000 women. In 2010, fifty widows, through SOPCALP, got $500 as outright grants and we have since established an interest-free loan scheme. We partner with community leaders, local women and youth organizations to guarantee loan repayments.
We are grateful to those who have contributed so far to this program and continue to solicit for assistance. We encourage every individual and organization interested in partnering with us in our microcredit scheme to contact us.