Written by David A. Yates | From The Liberian Observer 

The Chief of Party at the United States Agency for International Development (USAID) funded—Liberia Investing for Business Expansion (IBEX) Program, has disclosed how her organization helped Liberian-owned micro, small-and medium-sized enterprises (SMEs) to obtain over US$608,000 in loans from the various banks in Monrovia since its inception in 2012.

 IBEX’s COP Watchen Harris Bruce made the disclosure recently at the just end two-day IBEX’s impact investing training seminar for SMEs and bankers in the country.

The seminar was held on the theme: “The Basics of Impact Investing” for Bankers and SMEs.”

 Mrs. Bruce, however, observed that most SMEs found it difficult to access credit from various banking institutions, and as such, they were unprepared to present themselves for loan.

According to her, IBEX was literally doing business diagnosis to identify, and analyze SMEs’ problems, and come up with appropriate prescriptions for solutions by providing financial services that include technical assistance and capacity-building for SMEs in the country.

“Our focus is on cash flows, record keeping, business planning, financial projections (plan) and financial statements analysis to show profitability and break-even analysis for them (business people),” she disclosed.

 She told the gathering that the goal of IBEX is to, among other things, make Liberian businesses bankable as well as help them understand business management.

 Mrs. Bruce, however, said her organization is in the country to train, mentors, and give pieces of advice to SMEs in its seven program sectors to make them bankable.

Read more at The Liberian Observer