Access to low-interest loans.
SBB facilitates low-interest loans through Republic Bank Ltd and Guyana Bank for Trade & Industry through the following means:
- Credit Guarantee Scheme
Loans under this scheme are offered at a maximum rate of 6% with collateral support in the form of a credit guarantee which is equivalent to 40% of the loan amount.
- Interest Payment Facility (interest subsidies)
Under the “Micro and Small Enterprise and Building ALternative Livelihoods for Vulnerable Groups” (MSED) programme, SBB can reimburse part of the interest charged on your loan per annum. This subsidy varies from 3% to 5% per annum, thereby reducing the cost of borrowing.
Access to business training (FREE)
- Business Management Skills
SBB through its 12 training partners provides access to a range of skills required for more effective management of your enterprises. Training programmes cover all the areas required to help you better manage your business.
- Technical skills programmes
SBB facilitates access to an array of technical skills programme which can help you refine what you do. Please see ‘Training” for details on the same.
Access to Government Procurement Opportunities
All small business as per the SBA, once eligible, have access to 20% of Govt’s procurement of goods and services. In order to be eligible, you must register your small business with the SBB and be an ‘approved small business’. An approved small business is one which:
- Is registered as a sole trader or company.
- Has a tax identification number.
- Has GRA and NIS compliances.
Access other support services (FREE)
- General business advice
- Administrative support for your business
- Assistance with preparing marketing materials
- Support with preparing documentation required by the banks for loans
- Linkages with other stakeholders