Benefits for Small Businesses under the Small Business Bureau

SBB

 

Micro and Small Enterprises can benefit from Guyana’s Low Carbon Development Strategy: Micro and Small Enterprise Development (MSED) Project being executed by Small Business Bureau.

  1. A loan of up to G$30 M: These loans are provided through the Institute of Private Enterprise Development (IPED); Guyana Bank for Trade and Industry (GBTI) and Republic Bank (Guyana) Ltd. The Small Business Bureau will first assess whether small business owners can qualify for loan or grant before guiding them through the application process. Loans applicants under the Micro and Small Enterprise Project must meet these financial institutions’ requirements ( equity, collateral, etc) to be issued a loan. Small business owners who obtain a loan under the MSED Project will make re-payments at a reduced interest rate of 6% and will only be required to guarantee 60% of collateral.
  2. A grant of up to G$300,000: For start-ups and those looking to expand their small business operations
  3. Technical skills training: Business process/service efficiency applicable for all priority sectors, low carbon activities and vulnerable groups.
  4. Business management skills training, including business plan preparation, accounting and cash flow management, marketing and identifying critical success factors.