$100M Revolving Fund now available to small businesses

first_imgAccess to financing for small businesses will now be less restrictive with the implementation of the new $100 million Revolving Fund project.Business Minister Dominic Gaskin said the project would be executed by the Ministry’s semi-autonomous agency, the Small Business Bureau (SBB).The initiative will help to finance micro and small businesses whose goods and services are sustainable and environmentally friendly.Business Minister Dominic GaskinThe SBB currently invests in low carbon sectors to support the Government’s strategy to reduce carbon emissions, through loans, grants, and guaranteed collateral.However, Minister Gaskin pointed out that “…it is restrictive, and we have found that many small businesses that would have liked to access financing through that programme were not allowed to do so, because of the specific terms of reference”.The Business Minister explained the new initiative with its open terms of reference policy will differ from the ongoing access-to-finance programme, because “this $100 million Revolving Fund has no restrictions, in terms of what type of businesses can access it”.The Revolving Fund also aims to provide small loans to persons leaving the sugar industry who are desirous of establishing individual business ventures.In 2017, the SBB dispersed some 50 approved loans valued at $270 million to finance small businesses in the low-carbon sector across the country.last_img read more

France star admits his delight after signing for Newcastle

first_img1 Remy Cabella believes he has taken the next step in his career by joining Newcastle.The French international, who was a second-half in substitute in France’s 1-0 win over Spain last week, joined Newcastle for £12m this summer from Ligue 1 side Montpellier.That fee made Cabella Newcastle’s most expensive signing since the £16m acquisition of Michael Owen from Real Madrid in 2005, and the Frenchman admitted he is eager to repay the club’s faith in him.“I am very happy to have signed for Newcastle. That’s what I wanted,” Cabella told RMC.“I wanted to take the next step and discover a new championship.“We must put the wheels in motion, win matches and then things will be even better.” Remy Cabella in action for France last_img