The AID Bank and the Government of Dominica signed an agreement today which will see the AID Bank administering a $5m loan facility for small business owners.
The ceremony which was streamed live on Facebook was attended by the Hon Prime Minister and Minister for Finance, Roosevelt Skerrit.
He announced this loan facility as a measure to support bus drivers, nail, bar and barber shop owners and other micro businesses who lost income during the nationwide shutdown.
Loan applications are welcome immediately and AID Bank General Manager, Marie-Therese Johnson invites business-owners to get in on the deal at 1% interest with a 6-month grace period.
No requirements have been outlined for the loan but a 48-hour payout has been highlighted.
Hon Roosevelt Skerrit detailed that the loans can be used for any business expense including employee salary and overhead costs.
Signing of Agreement between Government of Dominica & AID Bank
Posted by GIS Dominica on Thursday, May 21, 2020