Process to access SIWIBA revolving fund clarified

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PROCESS to access the newly launched Solomon Islands Women in Business Association (SIWIBA) revolving fund has been briefly clarified.

The fund is purposely for SIWIBA registered members who cannot access financial institution for support and it did come from monies from the women’s trade fair activities as well as monies from the SIWIBA awards night.

The clarification statement was explained by the SIWIBA Chief Executive Officer (CEO) Mrs Jennifer Pascal in an exclusive interview yesterday.

She explained, to access the fund first one has to be a financial member of SIWIBA and must be a registered member under the SIWIBA savings club.

After the completion of the first process individual members need to build up their saving account because its (saving account) acts like as security pledged collateral.

Pascal clearly stated that the borrowed amount will depend entirely on the amount recorded in each account registered members have.

She said according to SIWIBA strategic plan the initiative is expected to be rolled out in the month of June.

However both informal and formal financial members are eligible to access the fund.

$100,000 is being used as the starting base for the resolving fund.

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