Cabinet has approved three loans totalling EC$260,000 under the Prime Minister’s Entrepreneurial Development Programme to support the expansion of locally owned businesses.
The financing will benefit enterprises operating in the retail, tourism and agricultural sectors and is expected to support business growth, employment and national economic development.
The applications were approved following recommendations from the Entrepreneurial Development Programme Review Loan Committee.
Sandray Williams, trading as SWA Enterprise, Everything Hair 268 was approved for an EC$150,000 loan.
The financing will help complete a purpose-built commercial facility to house the growing retail business, which specialises in hair extensions, wigs, accessories, hair-care products and other beauty supplies.
Everything Hair 268 has grown from a mobile operation into an established retail enterprise. The new facility will provide additional retail and storage space, improve customer service and support further expansion.
Cabinet also approved EC$25,000 for Tiffany Azille, proprietor of Eat N Lime Food Tours Ltd.
The loan will assist with purchasing a passenger van to expand the company’s cultural and culinary tourism services.
Eat N Lime provides guided food tours through St. John’s while supporting restaurants, food vendors and other small businesses.
The additional vehicle will allow the company to accommodate more visitors, diversify its tour packages and develop stronger partnerships with local businesses.
A third loan of EC$85,000 was approved for Genardo Mathias, trading as Fresh Acres Enterprise.
The financing will support the construction of a greenhouse and chill room, installation of a hydroponic farming system and importation of agricultural equipment.
The investment is expected to increase year-round production, improve storage, reduce post-harvest losses and expand the availability of fresh local produce.
Cabinet said the agricultural project would also contribute to strengthening Antigua and Barbuda’s food security.
The Entrepreneurial Development Programme provides affordable financing and business support to viable micro, small and expanding enterprises.
Cabinet said the approved projects demonstrate the important role local entrepreneurs play in creating jobs and driving growth across several sectors.
The Government encouraged aspiring entrepreneurs and existing business owners to take advantage of the financing and development opportunities available through the programme.
I like this. More young people can benefit from this and realize their dreams of being an entrepreneur