PARLIAMENT APPROVES NEW LOAN FACILITY FOR SMALL BUSINESS

A new loan facility of 5.4 million dollars will soon be available to small and medium sized businesses in Dominica.

A resolution was approved in parliament on Monday to authorize Government to borrow from an OECS loan facility.

Minister for Small Business Development Roslyn Paul said the new facility will assist small enterprise owners who have trouble accessing financing.

“It’s an OECS regional facility passed in Parliament today, the resolution to have us access this fund,” Minister for Commerce, Enterprise and Small Business Development,” Paul said.

According to her, this will benefit micro, small and medium-sized enterprises (MSME’s) in Dominica.

“First and foremost we will be accessing this loan and I guess the small business owners are going to be happy because access funding has been a major challenge to a number of small businesses in Dominica, especially coming on the heels of Hurricane Maria where number of small businesses were affected,” she said.