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    August 08

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Trust Loan Fund disburses more than $13m


Added 22 July 2020


Minister of Small Business and Commerce Dwight Sutherland. (FILE)

The Barbados Trust Fund Limited (BTFL) has so far disbursed over $13.6 million for 3 008 loan applications to businesses and entrepreneurs.

Minister of Small Business, Entrepreneurship and Commerce, Dwight Sutherland, gave a breakdown of the funds disbursed while speaking during the opening ceremony for a joint BTFL, National Conservation Commission training series on debt and money management at the Christ Church Parish Church on Monday.

In a media release, Sutherland said 48 per cent of the loans were distributed to males, and 52 per cent to females. The Minister said 350 loans, amounting to $1 652, 316, were disbursed to the agricultural sector, and the 144 loans made to the cultural and creative industries totalled $652, 823. Loans to the 283 businesses in the manufacturing sector were valued at $1 262, 001, while there were 896 loans disbursed to the retail sector worth $3 948 498.37.

In the services sector, 1 308 loans totalling $6 035 798 were processed; while the tourism sector received 27 loans valued at $130 003.

Sutherland said the BTFL had provided training for 1 300 clients in topics such as: An Introduction to Management; Financial Literacy; Customer Service Excellence and Marketing & Promotion.

“A training workshop of this kind is most critical at this time when many small businesses in Barbados and around the world are struggling and trying to hold their heads above water because of the severe negative impact that the onset of the COVID-19 pandemic is having on the world’s economies,” the minister said.

The workshops began on Monday and end today with a discussion on when customer service. (BGIS)

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