Daily thrift, last hope for SMEs – Olubodun

By Edith Igbokwe

The Manager of Bodunmat Venture, a daily thrift organisation, Mr. Matthew Olubodun (aka Murphy) has disclosed that organised daily and weekly thrift remains the easy source of funding for small and medium entrepreneurs (SMEs) and even large business owners to grow their businesses.

According to him, the business owners can obtain loan from thrift company without collateral at lowest interest rate while the repayment is done without stress.

Explaining the procedure for obtaining loan from his company and many other thrift outlets, Olubodun said a business owner have to be a member who has a contribution account with the  company.

He said such an individual could obtain loan at the triple rate of what they have in their account and pay back in bits.

He therefore urged business owners in Oshodi-Isolo to key into the contribution-lending programme to grow their businesses.

“For Bodunmat to lend out funds to client, he/she must obtain an application form of N2,000 with two passport photographs, one guarantor and any valid identify card (National I.D, Voter’s card, Driver’s license) to obtain a minimum amount of N5,000 and Maximum N200,000.

“The contribution aspect takes different formats such as daily, weekly and monthly according to customer’s choice and the fund saved can be retrieved at any time needed either by hand or transfer.

“Repayment format can be either daily or weekly as the amount obtained will be spread out for easy refund.”

The manager, who also deals in Estate Management services which cover buying and selling of land/house property, rental and lease hold services, said the business environment in Oshodi-Isolo is appreciable, conducive for such businesses.