SOF COOPERATIVE

Cooperative Societies remain one of the most valid forums where people get together to achieve goals they wouldn’t have achieved on their own According to Nigeria’s current Vice President – “Credit is the lifeblood of business, the life blood of commerce”. Business could easily stagnate when its sources of credit dry or without a healthy credit arrangement. SOF Coperative aims at solving the inherent problems associated with accessing credit through Nigerian Commercial Banks.

SOF Cooperative will easily become a large gathering of schools creating a healthy pool of resources that can be accessed at single digit loan rates and flexible collateral conditions. SOF Cooperative will then also take on the Banks and get them more interested in assisting at single digit rates through the Cooperative which in itself serves as a collateral.

The truth remains that Cooperatives demonstrate the advantage of being member-centric organizations, where a relatively small amount of investment from a large number of people can create a sizable base of funds from which to leverage larger amounts of capital. The share investments demonstrate member-owner commitment to banks and other lenders. This in turn translates to securing benefits both from the government and from larger lenders, benefits that cannot be accessed individually.

Our experience shows there are very few and effective school owner cooperatives in this industry. Almost everyone walks alone and seeks to find its foot. What makes SOF Cooperative totally different from every other such initiative is its ready made membership through the school owners forum and also the vision driving the forum which is not primarily to get credit, but to be a new breed of school owners.