Given the challenges that continue to inhibit access to borrowing by local micro and small businesses for the purpose of strengthening the foundation of existing but under-financed enterprises, the model utilised by the Jamaican lending platform known as Esther Finance Ltd. may well be worth a try here.
A Caribbean Business Report (CBR) story which appeared on Monday described the peer-to-peer (p2p) platform approach being employed by the privately-owned company as an initiative aimed at “humanizing lending,” an approach that may be particularly relevant here in Guyana where efforts by small businesses to access finance can sometimes rival ‘pulling teeth’ as it relates to the extent of the ensuing difficulty.