Young Entrepreneurs get on board now Loans and Grants One of the key mandates of the SBB is to facilitate access to finance for small businesses. The SBB will soon be able to fulfill this mandate via the upcoming Micro and Small Enterprise Development and Building Alternative Livelihoods for Vulnerable Groups Project. Assistance will be provided MSE’s in the following categories: The SBB will be partnering with key micro financial institutions and commercial banks to offer a window for small businesses to benefit from collateral guarantees and interest rate subsidies, and with expert training institutions to offer generic business management and technical training for MSE’s. MSE’s can benefit from the following facilities via the upcoming LCMSED Project: 1. Collateral Guarantees SBB will guarantee up to 40% of the collateral requirements of the banks; that is, up to a maximum of $12M for loans. 2. Interest Subsidies SBB will offer a maximum of 5% subsidy on interest rates for loans 3. Grants Persons who do not qualify for loans because of perceived risks will be eligible for a grant of up to GYD $300,000 4. Business Management Skills i. Business plan preparation ii. Identifying critical success factors iii. Accounting and cash flow management iv. Marketing 5. Technical Skills Training Business process\service efficiency applicable for all priority sectors, low carbon activities and vulnerable groups mintic.gov.gy/smallbusiness/loansgrants.html
Posted on: Fri, 28 Mar 2014 12:20:22 +0000
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