Under its Credit Guarantee Programme, the SBB guarantees small business development loans for clients, up to a maximum value of GYD 30,000,000. The SBB offers collateral coverage of up to 40% collateral for first-time borrowers and up to 70% for repeat borrowers. Currently, two Participating Financial Institutions (PFIs)—Republic Bank Guyana Limited and Guyana Bank for Trade and Industry Limited—are responsible for the approval and disbursement of small business development loans.
Eligibility
To be eligible for a small business development
loan, the following requirements must be met:
§ Owner(s) of a business, seeking expansion of the business.
§ Registered client(s) of the Small Business Bureau.
§ Submit copies of Business Registration, National Identification Card and certificate of Tax Identification Number.
§ Submit a complete business plan document (if business start-up or established less than 12 months).
§ Submit quotations/estimates of items to be purchased with loan funding.
§ Submit valuation of the asset required as collateral
§ Submit valid GRA and NIS compliance documents.
§ Submit credit information from CreditInfo.
Loans Process
§ Client(s) submits all required documents.
§ SBB reviews documents and interviews client(s).
§ SBB conducts a site visit of the business.
§ SBB refers client(s) to PFI/Bank for approval of loan.
§ PFI/Bank informs SBB when loan approved and request final approval.
§ Client(s) signs SBB Agreement and Promissory Note.
§ SBB approves and return documents to PFI/Bank.
§ PFI/Bank disburses loan.
§ Client(s) submits to SBB evidence of payment to PFI/Bank.
§ SBB conducts monitoring and evaluation visits of business.
Download the brochure for more information