Small businesses will benefit more from technical and financial assistance with the establishment of a financial charter between government and the sector.
Speaking at a business forum and conference of the Small Business Association on Tuesday (23 September 2003) at the Sherbourne Conference Centre, Minister of Industry and International Business, Dale Marshall, said the charter would strengthen the relationship between government’s financial institutions and the sector. This move is intended to ensure that there is no hindrance in accessing financing.
He said that to enhance the delivery of financing to these sectors several measures were agreed upon, including the expanded capitalisation of Fund Access and the Enterprise Growth Fund.
The latter will see its capital base raised from $4.7m to $10m, while Fund Access’ ceiling on loans will move from $50,000 to $100,000.
The Enterprise fund would also be able to grant loans over $100,000.
