Loans ranging from $500 to $30,000 are offered in the BelFund to citizens of all ages.

Equity Minister, Hn. Joachim Henry, says the Fund has reduced the list of requirements needed in the application process. The Minister says this will encourage more people to apply for assistance for their business endeavours.

 “I'm happy to report that BelFund has made some adjustments. So to date, you can get at least $5,000 to $30,000 without having the need of three guarantors. You can have at least one guarantor based on the amount that you're seeking,” Henry said. In certain instances, he adds, applicants will not need guarantors.

“And also, if you're prepared to have a salary reduction, you probably would consider not having any guarantors. So Belfund has made it a lot easier for you to access microloans. They would do the assessment,” he said.

He says people who have not qualified for assistance under the Ministry of Commerce’s MSME programme can apply for assistance from the BelFund.

“They evaluate what you come in to do, of course, and it provides an avenue to tie in with what we are doing. And there are a set of persons who will not receive support from the Ministry of Commerce under the small loan arrangement. Of course, BelFund would accommodate because it has to do with the business arrangement that you embarked on.”

He also clarifies that the Fund will not discriminate based on age. “Yes, retirees and senior persons can go to BelFund and you can get as much as $30,000.”

So far, 1,500 Saint Lucians have benefited from the Fund.