In a major move to support grassroots economic empowerment, an NGO—Fancier Hope and Heritage Foundation—has disbursed interest-free soft loans to over 50 hawkers and small-scale vendors in Aba, Abia State.
The beneficiaries, including sachet water vendors, roasted yam and corn sellers, and other local food hawkers, each received ₦50,000 to boost their businesses. The loan is for a period of one year and requires no collateral.
A second group of 50 hawkers has already been enlisted and is expected to receive their own disbursement in April 2026, once the first batch completes repayment.
“I am a child of charity” – Founder
During the disbursement ceremony in Aba, Dr. Ngozi Egbuchulam, founder of the Foundation, said her inspiration to offer the loan scheme came from the charitable support she received during her own early education.
“I am a child of charity. People helped me through school—especially during my primary and secondary education,” Dr. Egbuchulam shared.
“People who lived on my street, including women working in a nearby brothel, contributed money to support my education. Some of them weren’t even Igbo. That’s why I’ve extended this programme to many other states.”
She explained that the soft loan programme, which is currently active in 18 states across Nigeria, is targeted at the poorest of the poor—those who rely on daily sales from hawking to survive.
“This loan is meant for hawkers of sachet water, akara, roasted yam, corn, roadside food sellers, and other street vendors,” she said.
“There’s no collateral involved. The only collateral is integrity and hard work.”
Expanding Across Nigeria
Dr. Egbuchulam disclosed that plans are already in motion to expand the scheme to all 36 states, ensuring more underprivileged Nigerians—especially women and young breadwinners—have access to sustainable microloans without the barriers of conventional finance.
Also Read: Foundation Urges Support for the Less Privileged Amid Economic Hardship
Empowering Local Entrepreneurs
The initiative has been widely praised in Aba, where many of the recipients said the loan would help them grow their businesses and support their families amid tough economic conditions.
“I’ve never received this kind of support before,” said Mrs. Okezie, a roasted plantain hawker. “This ₦50,000 will help me buy more supplies and stop borrowing from neighbors.”
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please Sir/ma i really need this loan, to continue my POS business for this season