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Saint Lucia: MSME Loan-Grant Facility aims growth of businesses

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Saint Lucia: The government of Saint Lucia, under the guidance of Philip J Pierre, the Prime Minister of the nation, recently highlighted their motive around the introduction of the MSME Loan-Grant Facility. The aim of the government is to bring small and medium-sized businesses into the mainstream by providing them with a deserving chance to grow and succeed.

The PM office mentioned that “Prime Minister Hon. Philip J. Pierre’s government is taking a chance on our small and medium-sized businesses by introducing the MSME Loan-Grant Facility.”

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By mentioning the use and success of the loan facility, the officials added in their statement, “The MSME Loan-Grant Facility is breaking down barriers and bridging the financial gap to give small and medium-sized businesses in Saint Lucia the opportunity to flourish.”

It is highlighted in the statement of the officials that the MSME Loan-Grant Facility is to play a role in maximising the potential of the MSMEs or the small and medium businesses in Saint Lucia by providing them with capital needed for the growth and betterment of their businesses.

The officials also mentioned the belief of PM Philip J Pierre that he understands that the growth of businesses is very important to achieve the possible economic growth of the nation.

The primary focus of the MSME Loan-Grant Facility, as per the officials, is the growth of more than 175 small and medium-sized businesses owned by the residents of Saint Lucia back them with secure approval. It is intended by the loan facility that the provided funding will help the owners to explore the new facilities and opportunities in the market and eventually increase their profitability.

Officials said, “More than 175 Saint Lucian-owned small and medium-sized businesses are one step closer to turning a dream into a reality and have secured approval from the MSME Loan-Grant Facility. The MSME Loan-Grant Facility is changing lives and has delivered real results for real people who believe in themselves.”

The MSME Loan-Grant Facility project was introduced for the betterment of small and medium business owners in Saint Lucia by the Ministry of Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs.

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The project was a ten million East Caribbean dollars facility which was situated to provide relief to the micro, small and medium enterprises after the world pandemic of COVID-19 and in the continuous service to boost the economic growth of the nation.

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