Under its Credit Guarantee Programme, SBB guarantees small business development loans for clients, up to a total value of GYD30,000,000. Currently two Participating Financial Institutions (PFI) – Republic Bank Guyana Limited, and Guyana Bank for Trade and Industry Limited, are supporting 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 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.