Several non-bank lending agencies in Barbados have thrown out at least $1 million in lifeline financing to rescue micro, small and medium-sized enterprises from the economic stranglehold of the pandemic and continue to help them to get restarted after the country’s national lockdown.
At a recent webinar on Financing Start-ups And Business Ideas, the Financial Literacy Bureau said many small businesses were helped to stay afloat as it made a case for start-ups getting more than funding in a full package of support that also provided developmental training for entrepreneurs, and in times of uncertainty such as the COVID-19 pandemic, refinancing options and suspension of loan repayments.
The bureau was launched Barbados in October 2020 to help local households and businesses to better manage their finances.
