Officials of the Micro-Finance and Small Loans Centre (MASLOC) say they are considering several options including legal action to recover over GH¢50,000 from loan defaulters. MASLOC was established in 2006 by the Kufour-led New Patriotic Party government to manage micro finance schemes introduced under the second phase of Ghana’s Poverty Reduction Strategy to grow the private sector. The Chief Executive Officer of the scheme, Miss Bertha Ansah Djan has told Adom News that high default rates in loan repayment is crippling the scheme and denying other small scale entrepreneurs access to credit. She said despite several notices, most defaulters have refused to settle their indebtedness. Madam Ansah told Adom News her outfit has begun prosecuting some loan defaulters to ensure effective recovery of the money to benefit others in waiting. She cautioned beneficiaries of the facility to pay back to avert legal action. She also warned defaulters not to hide behind the erroneous excuse that the funds were for free. Story: Akosua Addai Mununkum/Adom News