Lift Bank 4: Amb. Dr. Felix King, Founder, Felix King Foundation signing the Lift Bank project seal for the kick off the programme in Lagos, Ogun and Edo States at the media breakfast chart to unveil the project in Lagos recently.

Piqued by the growing poverty rate among the widowsin the rural communities, attendant government’s neglect of this very important socio-economic group, and the important role they play in the development of their families and communities, the Governing board of Felix King Foundation, has affirmed the operation of Lift Bank, which will help lift 10,000 Widows and active poor women in Nigeria’s rural communities within 5 years period into prosperity.

Lift Bank will help in areas of small business capital access, training, mentorship and network.

The Lift Bank, which isscheduled to be officially launchedin May 2019, will focus it’s operations in Edo, Lagos and Ogun states.

Lift Bank, is an added component of Felix King Foundation and will operate under the arm of the Felix King Rural Initiative in partnership with Lift Bank accredited Community Banks.

Lift Bank: Amb. Dr. Felix King, Promoter of Lift Bank project for rural poor in Nigeria (middle), LanreOkelana, Financial controller – Felix King Foundation (left), Adebayo Olumide (2nd left), KusoroToluwanimi, Disbursement and control officers, Lift Bank (2nd right) and Victor Orenuga, Field operations, Felix King Foundation (extreme right) at the media breakfast chart to unveil Lift Bank Project in Lagos.

According to a statement by Felix King Foundation, the Foundation said that, it is unimaginable what these women had to go through to access as low as N10, 000 from local money lenders and the penalty they had to endure for a day default in repayment due to stringent conditions.

Lift Bank 1: Amb. Dr. Felix King, Proponent of Lift Bank Project for poor rural women and President Felix King Foundation showcasing the Lift Bank Project Seal at media breakfast chart in Lagos recently.

According to the founder of the Felix King Foundation, Dr. Felix King said, “We will be partnering with community bank / financial outfit for better output and sustainability. The role of community banks is to disburse the capital, supervise the repayment and manage the re-disbursements as well as progress monitoring of beneficiaries.”

He said “the Lift Bank is a zero free loan access capital for widows and active poor women who are breadwinners of their family. And It is meant to support widows and active rural women in the enterprise such as trading, farming, and artisanship.”

Amb. Dr. Felix King, Lift Bank Project’s Promoter, pointing at the map to highlight the 3 states where lift bank will be operational this year which are Lagos, Ogun and Edo States at the media breakfast chart in Lagos to unveil the project recently

Dr. King stated that “investing in women is vital for our collective economic prosperity and national stability of any country. When we empower women, communities prosper, thenation thrives and peace prevails,” he said.

Speaking on the repayment arrangement between the foundation and beneficiaries, the founder highlighted that any woman who pays back after a year window, will have the opportunity to reapply with a chance to earn 100 percent above initial fund collected.

The lift bank will operate in Lagos, Edo and Ogun states during the 2019 calendar with a possible geographical expansion in 2020 calendar