By Massa Kanneh, masskanneh4@gmail.com
MONROVIA, Liberia- Despite the imposition of the State Of Emergency and nonessential Businesses were ordered closed, some Accessbank’s customers are being demanded to make payments of their Monthly Loan obligations.
Speaking to www.newspublictrust.com, several of the Costumers are pleading with government to intervene for Accessbank to give them more time to get them prepare and start Payment of their Loan.
Ruth Lawson, fell in the category of Nonessential Businesses who had to sit Home for several Months without sales in her Used Clothes Business.
Prior to the closure of her Business, she had Borrowed One Million Liberian Dollars from AccessBank LIberia as Loan to start her Business.
This amount is equivalent to over US$5,000, with the current exchange rate at 197-198 Liberian dollars to one US dollar.
According to her, everything was going smooth and she was able to pay her monthly obligation until her table was broken down waterside during the demolition process by the Monrovia City Corporation (MCC) in May.
“I was selling on a table and they broke our table and closed our businesses, now I’m not selling, I’m out of Business,“ she said.
“I took one Million to be paid in one Year, I have pay like six Months, remaining seven more months, we are not refusing to pay the money,” Lawson added.
“I don’t know when the Coronavirus will finished , but I want is for Government talk to the Bank to give Us time, at least One or Two Month” she added.
FLASHBACK: Liberian Police destroying market stalls at the Waterside weeks ago
According to Lawson, she pays some huge sum of Money every Month and has defaulted on her payment since she took the Loan.
“I pay One Hundred forty six thousands Liberian Dollars Every Month, all we want is time to pay” she continued
Another Costumer is Roland Tuazama, who with other Used Clothes Business owners, borrowed Fourteen Thousands United States from Accessbank and is obligated to pay Five Hundred and Forty Dollars (US$540) every Month. But she is yet to live up to this commitment since the State of Emergency.
Tuazama also fell in same category with of other Nonessential Business owners whose Table were also demolished and sent Home for they were in the Non-essential businesses.
He said if the government cannot help with the payment of their Loans, he wants for Government to intervene on their behalf to allow give them ample time to start payments.
According to him, Accessbank called him last Wednesday with several others for a Meeting and the outcome was that they should pay, adding the Bank was not responsible for whatever happening in their Businesses.
“We just had a meeting with Accessbank and the Bank is dying they are not responsible for what happened and that the only thing they can do for now, is for us to pay the monthly Interest on the Loan, which of course is difficult for me,” said Tuazama.
“I have Family and Children, all the small Money we had before the Lockdown or Stay Home, we have used all, things are really difficult,“ Tuazama added.
Tuazama stated that he and others who took the Loans are not refusing to pay but need time to allow them get back to business and start payments.
Even with the relaxation of the Stay Home last week, and Businesses ordered to resume, provided they observed the Health Protocols, Tuazama noted that the Police deployed at Waterside are their major obstacles now to reopen their businesses.
“Since we came back, no place to sell, every second, the Police are after us,” Tuazama added.
Titus Massaquoi is also a Costumer sells Slippers and Clothes at Water and Mechalin street, but is also unable to comply with the Bank mandate in payment of his Loan.
Massaquoi borrowed Three Hundred United States Dollars $300 from the Bank in February 2020.
Every Month, he deposits Nine Thousand Six Hundred Sixty five Liberian Dollar, closed to U$50. But right now, he says he is unable to comply for he is currently not selling.
“I’m indebted to the Bank, I signed and took Money. But prior to State Of Emergency he wrote a Letter to the bank requesting for grace period and they refused,” he says.
“Since out of high School in 2011, I have been in business, I have taken loan from Accessbank six time and been complying with payment,” Massaquoi added.
Despite what some might see as little Money, but Titus needs help with his loan payment.
“I took Three Hundred United States Dollars. I’m not speaking as an individual but as a group, there are lot of Business people down Waterside.”
“On every Month the 17, the Bank will send us alert, reminding us of payment and right now, they need to help us” said Massaquoi Government’s position on Loan Payment.
On April 8, 2020, Liberia’s President George Weah made several pronouncements when he declared a State Of Emergency throughput the Country in a wake to contain the further spread of the Novel Coronavirus.
One of the commitments made by his administration was to help pay smaller Loans from January 2020 to an unspecified deadline.
Market women and informal Petty Traders Bank Loan Program
“It is clear that several market women and small informal petty traders, who have loans with commercial banks and other creditors, will suffer significantly from the loss of the number of selling and trading days occasioned by the Stay-At-Home order. The Government is working with lenders to show some understanding of our vulnerable borrowers,” President Weah said.
In this direction, I propose to the Honorable Legislature that the Government fully pays the loans owed by market women, and petty and small traders in affected counties as part of the requested budgetary reallocation. This will be a strong stimulus for these individuals. They have built their businesses from scratch with little or no help from the Government and deserve protection during these trying times. This program will further help the banks to increase lending to new borrowers,” President Weah added.
The State Of Emergency with some modifications made by the both Houses, was approved and an agreement was made to help Smaller Business owners.
“That the Market Women and Small Informal Petty Traders Bank Loan Program is approved, with modification to add credit unions and related entities registered and doing business before January 1, 2020,” the Legislature said.
The Bank’s Mission
Accessbank is a micro finance commercial Bank, Licensed by the Central Bank of LIberia to operate. It was established in 2009. The current Chief Executive Officer (CEO) for Accessbank LIberia is Jonas Kwabla Nyaye.
Authority in the Marketing Department at the bank’s Head Office on 20th Street in Monrovia’s Sinkor did not acknowledge an acceptance of interview request, after several emails, Text Messages, phone calls and visit at the Bank.
This Reporter was told the Bank does not have Media or Public Affairs Officer and that the Marketing Department was responsible to handle all Interviews.