access to capital
More on Access to Capital
While the Access Accelerator is not a direct provider of capital, we will ensure the seamless facilitation of access to capital for our clients.
The Government of The Bahamas has committed $5 million per year for the next five years, a total commitment of $25 million, to be disbursed to Bahamian MSMEs through loans and equity financing. Using the government’s $5 million stake as a guarantee, the Access Accelerator has been able to secure even more in low-cost, guaranteed loans for disbursement.
In addition, The Government of the Bahamas has earmarked $250,000 for business development grants to impoverished youth up to the age of 30 from New Providence and $200,000 to impoverished youth up the age of 30 from the Family Islands. These grants – none of which will be for more than $20,000 – will be disbursed according to a stringent regime, including the successful completion of the training and business advisory process, income tests and proof of citizenship. And, among other requirements, the money goes directly to vendors and is not applicable to working capital.