Collateral guarantees, training allocated close to US$3M of US$5M micro/small business project budget

By Stabroek News On In Business |
President Donald Ramotar being escorted into the Convention Centre for the launch of the project by Small Business Bureau Chief Executive Officer Derrick Cummings
President Donald Ramotar being escorted into the Convention Centre for the launch of the project by Small Business Bureau Chief Executive Officer Derrick Cummings

Up to US$1,575.000 of the US$5 million to be disbursed on the execution of the Micro and Small Enterprise Development and Building Alternative Livelihoods For Vulnerable Groups Project will be spent on the project’s Collateral Guarantee facility which will essentially provide large numbers of small business owners and potential owners access to financing through the commercial banking sector.

The Small Business Bureau (SBB) the entity created under the Small Business Act of 2004 will guarantee up to 40 per cent of the collateral