Micro, Small and Medium Enterprises (MSME’s) here, look forward to an increase in borrowing power, with the launch of a regional loan guarantee programme in Dominica.
The programme is offered by the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC), whose aim is to facilitate access to funding for MSME’s in six participating Caribbean countries.
The ECPCGC announced the launch of its loan guarantee programme here on Wednesday in partnership with the National Bank of Dominica (NBD).
CEO of the ECPCGC Carmen Gomez-Trigg says with increased access to loan facilities, small businesses will be better able to contribute to the Caribbean economy.
Meantime, Chief Financial Officer of the organization Bernard Thomas says the programme has three components.
According to Thomas, businesses can be guaranteed up to 75% for loans of up to $300,000.