GOVERNMENT UPDATES

IMPORTANT GOVERNMENT LINKS:
  • Government of the Bahamas Updates
Access Accelerator: Small Business Development Center:
Business Continuity Loan Program
In response to the economic impact of COVID-19, The Government of The Bahamas has made provisions, through the Access Accelerator (A²)  Small Business Development Centre to disburse $20 million in small  business loans.
https://www.accessaccelerator.org/business-continuity-application/

WHO IS ELIGIBLE FOR THE LOAN?

  • MSMES IN THE BAHAMAS:
    Micro, small and medium-sized enterprises that operate in The Bahamas

  • LESS THAN 50 EMPLOYEES:
    Businesses that are employing less than 50 people

  • OVER ONE YEAR IN OPERATIONS
    Existing businesses that have been in operations for more than one year. Exception for Access Accelerator SBDC Clients who will be given a letter to exempt them from this requirement.

  • LESS THAN $3 MIL IN REVENUE
    Businesses having earned less than $3 million in annual revenue for 2019

  • LOAN ELIGIBILITY BUSINESS STATUS CURRENT
    Businesses must have current Business License or V.A.T. returns if applicable.

ELIGIBLE EXPENSES UTILITIES:

  • Rent

  • Insurance

  • Salaries

  • Supplies

COMPANIES APPLYING TO THE PROGRAM MUST:

  • Agree to retain 51% of employees

  • Agree, at signing, to have their credit performance on the facility shared with the Credit Bureau and other financial institutions in the future

LOAN APPLICATION DOCUMENTS NEEDED:

  • Passport + one (1) other valid form of identification

  • Proof of residential address

  • Proof of business address

  • Business license and/or incorporation certificate (where applicable)

  • 2019 Business license filings or 2019 V.A.T. filings (where applicable)

  • Proof of the last three (3) months of expenses including:

    • Rent payments

    • Proof of payroll payments

    • Insurance and Utilities

    • Proof of monthly inventory/ Supplies purchases

BCP Application Link >>>
PDF Links Below:
  • Business Continuity Program Information Packet
  • Frequently Asked Questions about the loan program

ADDRESS

#2 Shirley Street and Collins Avenue
P.O. Box N665

Nassau, Bahamas

Operating Hours: Monday - Friday 9:00 AM to 5:00 PM

Email: info@thebahamaschamber.com

Phone: 242-322-2145

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