Young entrepreneurs to benefit from new loans

Young entrepreneurs who will participate in the ongoing Junior Chamber’s International’s ‘Terimbere’ Business Plan Competition will benefit from using their proposals to access loans. Lyde Hakizimana, JCI’S 2011 president in Rwanda said that the selected participants will be able to use their business plans to access credit from financial institutions to boost or start their businesses. “Competitors will be free to use their business plans to access loans from banks so we will train them on how to write good business proposals,’ she said.

Young entrepreneurs who will participate in the ongoing Junior Chamber’s International’s ‘Terimbere’ Business Plan Competition will benefit from using their proposals to access loans.

Lyde Hakizimana, JCI’S 2011 president in Rwanda said that the selected participants will be able to use their business plans to access credit from financial institutions to boost or start their businesses. “Competitors will be free to use their business plans to access loans from banks so we will train them on how to write good business proposals,’ she said.

In addition to accessing loans, Hakizimana noted that the selected business ideas will also be able to connect to international funders and investors who would be interested in those business ventures. Terimbere Best Business Plan Competition aims at promoting young entrepreneurs mainly in Small and Medium Enterprises (SMEs) and also those with ideas and need a startup capital of between US$5,000 and US$1million.

Hakizimana noted that the deadline for submission has been extended to August 10 after many asked for extension so that they can participate.

Shema Ngoga Fabrice, the 2011 international vice president of JCI, noted that young people have the capacity to change the lives of millions with their ideas.

Shema who was officially launching the JCI-Rwanda’s branch at the National University of Rwanda in Butare said that the branch is yet to take up campaigns aimed at transforming communities.

 “Junior Chamber International-National university of Rwanda (JCI-NUR) will provide opportunities to those who want entrepreneurship trainings in order to start their own businesses through business incubator programs that have recently been launched in partnership with SPARK,” Prof. Rama Rao, who represented the university at the launch, said.

Lyse Muyenzi, the current president of JCI-NUR said that students will be able to access financial support to start up their own businesses rather than being jobseekers.

“With such opportunities from JCI, am sure my fellow students are going to start their own businesses.”

Ends

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