The Guyana Bank for Trade and Industry (GBTI) has embarked on an initiative aimed at supporting small- and medium-sized businesses (SMBs) in achieving their financial goals.
In a release yesterday, GBTI announced the launch of GBTI GROW on Friday. Located at Lot 22 Mon Repos, East Coast Demerara, GBTI GROW will serve as a financial partner for SMBs, offering tailored financial solutions designed to address their unique challenges and growth potential. The division aims to be a one-stop destination for businesses seeking loans, advisory services, and innovative financial products that facilitate expansion and sustainability.
The launch which took place at the Mon Repos location, was attended by Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Ashni Singh, along with other prominent individuals, local small- and medium-sized business owners, and GBTI team members.
According to the release, the location at Mon Repos will soon transition into a fully functional branch, expanding its services beyond GBTI GROW to cater to the entire East Coast Demerara area. This development will bring a comprehensive range of banking solutions to the area, including personal and business banking, loans, savings accounts, and digital services. By establishing a full-service branch, GBTI says it is reaffirming its commitment to enhancing accessibility and delivering exceptional banking experiences to communities along the East Coast.
In his feature address at the launch, the release said that Singh commended the bank for opening a facility at Mon Repos, interpreting the decision as a signal of the Bank’s recognition of the remarkable opportunities that exist there and in surrounding communities on the East Coast of Demerara for banking business to be done.
He further posited that GROW is a timely and important initiative because it is a direct response to the challenges encountered by SMEs in relation to accessing credit. It also shows that GBTI is listening to its customers and potential customer bases, and recognises that there is an opportunity to tap into the market that is currently underserved, and to make that section of the market better served by these customised products targeting the SME sector, he said.
Chief Executive Officer of GBTI, Shawn Gurcharran, who also spoke at the launch, highlighted the bank’s commitment to providing tailored financial products and tools designed to help small businesses succeed in a competitive and dynamic environment.
He noted that as the economy experiences unprecedented growth, fuelled by emerging industries and international partnerships, it is essential that local businesses are positioned to benefit. As such, the Bank’s new SME division, is its way of ensuring that no entrepreneur is left behind. “We have heard the call for improved access for financing and we are here today demonstrating our commitment as a local indigenous bank.”
Gurcharran said that the choice of location was intentional, pointing out that being a stone’s throw away from the largest market on the East Coast provides many opportunities to forge partnerships with people involved in agriculture, small services, and growing businesses.
“At GBTI, we are not just bankers, we are partners in development. We believe in the potential of every entrepreneur who walks through our doors, and we are committed to providing the tools, resources, and support necessary to turn ideas into reality. While we are launching here at Mon Repos today, small business owners can approach any branch of GBTI to access any one of the …SME products.
The CEO also thanked customers and stakeholders for trusting GBTI to be your financial partner.
“To the entrepreneurs and small business owners present here today, let me assure you: this division is for you. It exists because we believe in your potential to transform not only your businesses and your families but also the future of our nation. Whatever is your financing need, whether it be for your business, a new car or a new home, let’s partner together”, he said.
