In line with the 2026 Budget, small and medium-sized businesses in Guyana will have more access to funding and support, as the Guyana Development Bank plans to offer micro-credit loans with no interest.
The initiative is part of broader efforts by the government to encourage entrepreneurship, lower financial barriers, and create new investment opportunities for small business owners who have often struggled to access funding.
For Michelle Washington, owner of a snackette in Bourda Market, this initiative is a chance to enhance customer experience by growing her food business to serve more customers in a welcoming and attractive space.
“This would be great for me and also for young people who just finished school and want to become business owners, knowing most financial entities now require a deposit, which not everyone will have access to, resulting in stagnation,” she said.
She also said. “So, for me, that is already in business. It will be a great advantage.”
Alisa Chung, who has sold fresh produce in Bourda market for over 30 years, envisions how her business could grow in the next 5 years by seizing new opportunities.
“I could benefit from that because I could take a loan and maybe expand my business a little more, and it’s nice to know that it’s interest-free. It needs an uplift because it’s been like this for a very long time,” Chung said.
With an initial injection of US$100 million into the Guyana Development Bank, young entrepreneurs, women, SMEs, and people living with disabilities can access up to $3 million in microcredit loans tailored to their financing needs.
In addition, this will be complemented with mentorships and support programmes, offering appropriate training to help SMEs grow their businesses.
Officials have emphasised that the initiative is designed to be accessible and responsive to the needs of SMEs at different stages of development, ensuring that adequate financing reaches those most in need while promoting accountability and sustainable growth.9874