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This Foundation proposal seeks to give the relevant information for the ultimate reason of securing Accreditation of the CDF for the Micro Enterprise Loan Programme (MELP)
The Spalding Community Development Foundation Limited (SCDF Ltd) was registered under the Industrial and Provident Societies Act on the thirtieth (30th) day of June 1994. Through the instrumentality of Mr. Dunbar McFarlene-General Manager NCB Group, the Foundation was established with the principal activity being created a source of credit for productive purposes at reasonable rates of interest from funds realized through Micro Investment Development Agencies (MIDA)
Membership in the organization is secured through the purchase of 80 shares at $5.00 each to a maximum of $400.00 per individual. The liability of the members is limited to nominal value of their shares.
Presently the foundation is administered by a board of Management they being Voluntary Members of the Community, whose responsibility it is for setting policies and overseeing the execution of those policies. The day today office operation is in the hand of a staff of two persons:
(a) A Credit Officer/Office Manager
(b) An Accountant
It is the considered opinion that these persons listed above; assist Members of the Board in regards to the Foundation Clients' potential for further growth and development in the micro sector.
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