Thomas Foundation Launches L$1M Segment Loan Scheme; To Benefit Du-Port Road Marketers


The parlance, “When you teach a man how to fish, you feed him for lifetime”, is being manifested by The Michael Thomas Foundation, which launched a L$1 million loan scheme to impact the marketers of Du-Port Road.  

   “We [are not] just into healthcare and education, but into women empowerment; that is why we go around and empower women. Without women, there will be no man. We are your backbones,” Tarina Thomas, the head of the loan program, said.

   The recent launched of the L$1 million loan program, held under the VOICES’ Palava Hut, brought together over 30 marketers, women and men, who promised to use the money wisely as per their agreement signed up to.

   “So today, we are launching a L$1,000,000 loan scheme with you. The way you clapping is how you people should pay it back,” Thomas said.

   The memorandum, which both parties signed up to, requires no interest to be added, but beneficiary should return the exact money after maximizing profit.

   “I told you before that the money we [are] giving you, we don’t want interest on it,” Thomas said. “If we gave you L$10.00, we want the same amount in return.”

   However, the L$1,000,000 loan was not given at once, but by installment.  The initial amount of L$200,000 was given to 20 marketers to sell and return the money within a six-month period.

   “After the six-month period of the first instilment, the second phase will be L$400,000, and after it, the next phase will increase until the L$1,000,000 is exhausted,” the entity’s public relations officer, Titus King, said.

   This is not the group’s first time giving out loans for empowerment in the district; it has been doing so without people returning the money, according Thomas. She added that people should not feel Aspirant Michael Thomas is vying for the district’s representative seat, consider the money as “political money” and refuse to pay it back, because they agreed to abide by the clause they have signed up to.  The Hot Pepper did not peruse the clause to ascertain its actuality.   

   The Du-Port Road marketers’ head thanked The Thomas’ Foundation for the initiative and assured them that they will do their best so that the relationship is maintained.

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