Local commercial banks have restated their preparedness to help finance the growth of the small business sector in Guyana, but maintain that lending decisions will continue to be based on judgements that are rooted in the soundness of such entities.
Commercial banks have had to face criticism from some small business operators who frequently complain that the banks’ lending conditionalities are beyond their means. However, Bankers Association official Shaleeza Shaw told the forum that while commercial banks were not disinclined to embrace a measure of flexibility in engaging potential small business borrowers, the banks’ research had found that some small business initiatives were rooted in shortcomings that pointed in the direction of failure.
Shaw listed over-optimism, the improper utilization of funds, insufficient market research, lack of managerial skill, absence of support services and theft of business stock as