Bank of Saint Lucia recognizes the real challenges that SMEs face and has devised a strategy to assist them with one of their most pressing issues – access to finance. The Bank’s SME staff are equipped to handle lending as well as other product and service needs of SME clients.

The Reality

Like many small developing societies, small and medium-sized enterprises (SMEs), are the foundation of the Saint Lucian economy. According to Saint Lucia’s Ministry of Commerce and Industry, over 80% of businesses on the island are SMEs, a statistical testament to the critical role that these businesses play in the economy. SMEs are a major source of employment, and therefore are vital to the alleviation of poverty as well as the social and economic stability of the island. They span a wide and diverse range of sectors such as hospitality, cosmetology, construction, transportation, manufacturing and agriculture, to name a few.

The Challenges

SMEs have faced significant challenges despite their integral role in the local economy. The Small Enterprise Development Unit (SEDU) in the Ministry of Commerce & Industry has identified some of the challenges which include: lack of market research & information, human resource constraints, poor cash flow management and limited access to finance. All of these issues combined with increased competition from external products and services create a difficult economic environment for SMEs to succeed. The most critical challenge facing SMEs is however, access to finance, which is precisely what they need for their business to not just

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Owners of Micro, Small and Medium Sized Enterprises (MSMEs) are now able to access guaranteed loans from Bank of Saint Lucia through the assistance of the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC).

Bank of Saint Lucia is proud to be the first of two financial institutions within the region to sign with the Corporation in June 2020. The program will guarantee a fixed percentage loans up to a maximum loan amount of EC$300,000.00 to qualifying MSMEs within six participating ECCU countries including Antigua, the Commonwealth of Dominica, Grenada, Saint Kitts, Saint Vincent and Saint Lucia. Access to finance and lack of collateral have for some MSMEs been an impediment to growth and expansion. This partnership represents a bold step in supporting our MSMEs, particularly at this juncture, in light of the current COVID-19 environment.

Spend less time standing in-line, get on-line.

Bank of Saint Lucia recognizes the real challenges that SMEs face and has devised a strategy to assist them with one of their most pressing issues – access to finance. The Bank’s SME staff are equipped to handle lending as well as other product and service needs of SME clients.

The Reality

Like many small developing societies, small and medium-sized enterprises (SMEs), are the foundation of the Saint Lucian economy. According to Saint Lucia’s Ministry of Commerce and Industry, over 80% of businesses on the island are SMEs, a statistical testament to the critical role that these businesses play in the economy. SMEs are a major source of employment, and therefore are vital to the alleviation of poverty as well as the social and economic stability of the island. They span a wide and diverse range of sectors such as hospitality, cosmetology, construction, transportation, manufacturing and agriculture, to name a few.

The Challenges

SMEs have faced significant challenges despite their integral role in the local economy. The Small Enterprise Development Unit (SEDU) in the Ministry of Commerce & Industry has identified some of the challenges which include: lack of market research & information, human resource constraints, poor cash flow management and limited access to finance. All of these issues combined with increased competition from external products and services create a difficult economic environment for SMEs to succeed. The most critical challenge facing SMEs is however, access to finance, which is precisely what they need for their business to not just

Get access to a wealth of resources to transform your business.

There are many advantages for registering your business.

Starting here is one of them.

We will provide the financial support so can you focus on what’s next.

Owners of Micro, Small and Medium Sized Enterprises (MSMEs) are now able to access guaranteed loans from Bank of Saint Lucia through the assistance of the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC).

Bank of Saint Lucia is proud to be the first of two financial institutions within the region to sign with the Corporation in June 2020. The program will guarantee a fixed percentage loans up to a maximum loan amount of EC$300,000.00 to qualifying MSMEs within six participating ECCU countries including Antigua, the Commonwealth of Dominica, Grenada, Saint Kitts, Saint Vincent and Saint Lucia. Access to finance and lack of collateral have for some MSMEs been an impediment to growth and expansion. This partnership represents a bold step in supporting our MSMEs, particularly at this juncture, in light of the current COVID-19 environment.

Spend less time standing in-line, get on-line.