SBB to distribute 1,400 small business grants valuing $300M countrywide

The agency intends to distribute more than 1,400 small business grants valuing some $300 million to entrepreneurs countrywide.

SBB’s Deputy Chief Executive Officer (CEO), Simon Pollard explained that the team will be returning to several regions to distribute grants to persons who were not captured in the first batch.

He noted that the SBB has seen a significant increase in the number of persons benefitting from its programme this year. The agency hopes to expand its current initiatives and establish more options for business owners to pursue.

“One of the things we want to encourage small business owners [to do] is to apply to the Small Business Bureau, there are various services that we offer. The grant programme is just the access to finance programmes. We also have the collateral guarantee programme, where they are arranged with Republic Bank and GBTI,” Pollard pointed out.

Close to 200 small businesses across Region Three are also expected to receive grants.

More than 80 small business owners from Region Ten on Wednesday received grants of $150,000 from SBB to help boost their businesses.

In Region Six some 130 grants were distributed and Chief Executive Officer, Mohamed Ibrahim noted that, “These grants are all within the plans of the small business bureau to promote sustainable growth and to help with poverty reduction within the entire region. This is one of the major aspects and we focus on helping these small businesses grow.” Distribution began in Region Four on Friday, with some 300 small business owners set to benefit. (DPI)