Al-Muhibbah Foundation Now an Entrepreneurship Development Institute
Al Muhibbah Foundation has being accredited as an Entrepreneurship development Institute (EDI) by the Central Bank of Nigeria (CBN) to conduct capacity Assessment , training and create linkage to funds for small and medium entrepreneurs and business owners in Bauchi State.
The Accreditation of the Foundation as an EDI was due to it long time strategic need base support for rural women and youth with business startup capital which has over time help them to expand their businesses and become self reliant.
The Continues support with startup capital for youth and women in the rural communities who are passionate about business and have small businesses has been one of the cardinal focuses of the foundation. Over 2000 Youth and women have received the support of the foundation to boost their income and expand their businesses which has helped them to consolidate their business, be self reliant and provide for their families.
The certification of the Foundation as an EDI is a remarkable step towards boosting the Small scale businesses owners in the state, and further links them to have access to loans that is provided by the central bank of Nigeria through NISAL microfinance Bank. The Foundation is progressively following CBN laid down process of training the entrepreneurs on how to accessing the loans and process of effective management of their businesses.
Al Muhibbah Foundation has so far recorded over 280 registrations of small business entrepreneurs who express interest to access the NISAL Loan to boost their businesses; so far 100 have undergone the first batch of the 5 day statutory Training covering an Overview of NISAL and it loan strategies , Small scale business financial records, Marketing strategies , feasibility study, Business structures, Loan Repayment and Interest Rate, effective sales, Regulations and compliance and Business Plan . The first batch of the trainers were presented with their certificate of attendance, which gives them an edge to continues with the process of development of business plan and next stage of uploading if to the NISARL Microfinance site.
The Foundation is making effort to ensure the entire loan applicant access the funds to boost their businesses by given them all the necessary professional guidance at every stage by its pool of staffs and professionals.