CREDIT FACILITIES AVAILABLE TO SMALL SCALE CLOTHING AND TEXTILE YOUNG ENTREPRENEURS IN ENUGU STATE

Abstract

This study aimed at identifying credit facilities available to small scale clothing and textiles young
Entrepreneurs in Enugu State. It utilized descriptive survey research design. The population was 540
Clothing and Textiles Entrepreneurs and bank managers. The Sample for this study was 126 comprising of
66 entrepreneurs 30lecturers and 30 bank managers. Multi-stage sampling technique were adopted in
choosing the respondents. The instrument for data collection was structured questionnaire titled “Credit
Facilities Availability Questionnaire in Enugu State” (CFAQ). The instrument was validated by three
experts. To obtain the reliability of the instrument, the questionnaire was trial-tested on 20 respondents in
Anambra State. Cronbach Alpha reliability coefficient of 0.83 was realized and was deemed reliable. Data
collected for this study were analyzed using a mean of 2.50 for the research questions and t-test statistic for
testing the hypotheses formulated at 0.05 level of significance. The results of the data analyzed show that,
over draft from banks, loans from thrift operators, cooperatives, family and friends among others are sources
of credit available to young entrepreneurs.