EgorasDAO launched the groundbreaking microfinance protocol in September 2020. During that time, it accrued revenues (interest on loans given to SMEs and pos transactions fees).
Egoras microfinance is working in a very unique way, completely ignoring the structure of a normal corporation and accounting standards, so it is very hard to find the right way to categorize the transactions of the Egoras smart contracts.
A report on P.O.S Transactions carried out from 23/09/2020 to 5/10/2020
A report on loan repayment for September 2020
A loan of 600,000 was given to some members of the Victory Union on 18th of September 2020 which will last for six months, with a repayment date starting from 2nd of October 2020.
Some the union members include;
A Loan of ₦100,000 was given to Mr Chuwubuike Kingsley for his footwear business on 21st of September 2020. The loan contract is to run for five months period with a repayment date starting from 28th of September 2020.
A loan of ₦100,000 was given to Mr Iheanacho Innocent on 21st of September 2020 for his Electronics business, with monthly repayment plan starting from 21st of October 2020. Loan duration is three months.
Other loans given out are as follows, with a repayment plan for weekly and duration of six months. Repayment starts on the 9th of October 2020.
Below is of ₦50,000 for the said individual with weekly repayment plan starting from 16th of October 2020 and duration of three months.
Egoras have given out a total loan of 1,370,000NGNC to fourteen (14) small businesses.
