MONEY LENDING AS A HOBBY – STORY OF GV MULTI-PURPOSE CO-OPERATIVE

                                      Mrs Clara Ereh of GV Multi-Purpose Co-operative

Fixing appointment to have a chat with her is akin to killing a lion, owing to her work and busy schedule. And to many staff of Cross River State University of Technology (CRUTECH), she is their saving grace and a dependable ally that you can count on any time. For this trained banker turned business owner, her greatest joy is providing solutions to different people and meeting their needs. She started a multipurpose co-operative in 2013 with help from her husband who supported her with little seed money. As time passes by, she discovered that there was too much fraud in the business and decided to close shop. She enrolled for CBN SSEDC entrepreneurship program and was shocked to see all the unanswered questions about her business answered during class activity. Mrs. Clara Ereh learnt that her business suffered in the past because she lived beyond her means and used the business money without proper record. She immediately re-opened the business but this time with better management skills and record keeping while at the same time paying herself - this changed the business as it took a new turn and grew rapidly. She recently convinced the management of Cross River State University of Technology to bank with her and in return will allow staff from the institution to access easy loan from her co-operative. She benefited from CBN MSME fund with #500,000 and has started repayment. Recently, she deployed a management software to monitor daily business records and transactions in other to avoid fraud. Presently with 2 marketers in her payroll, she intends to add more as demand for services has greatly increased in recent time. For this lovely mother of four (2 girls and 2 boys), “anyone can overcome any challenges provided you are willing to endure the early beginning and stay focused. The early beginning is usually shaky and troubling, but if you withstand it and remain determined, you will certainly attain success” – Mrs Clara Ereh said.