The Small Business Development Finance (SBDF) Trust was able to fund 685 micro and small loans valued at over $274 million last year, and achieved a surplus of $17.6 million for the year, according to Chairman Sattaur Gafoor.
Speaking at SBDF’s 8th Annual General Meeting held yesterday at the Hotel Tower, Gafoor indicated that during 2010, the SBDF increased its lending portfolio by 22 per cent (up from the $214,119,000 lent the previous year).
In 2009, 652 loans were funded by the SBDF. The 685 loans funded last year, according to the annual report, created 1,886 jobs, mainly in the areas of