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Almost 4,000 applications received for small business support program

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Posted: Wednesday, September 30, 2020. 1:24 pm CST.

By BBN Staff: The Government of Belize informed that a total of 3,994 applications were received from the Micro, Small and Medium enterprise support program.

Of these applications, 1,489 were abandoned, 623 are still ongoing and 1,882 have been submitted.

Abandoned applications refer to those who did not complete the application applied to the MSP in error, or were no longer interested in applying for assistance.

Ongoing applications require additional information such as banking information or industry, and applicants have been contacted to complete their applications.  

The preliminary breakdown of the submitted applications by industry are as follows: 

Industry  No. of Applicants  Percentage 
Agriculture  154  8% 
Agro-processing  138  7% 
Commercial Free Zones  0% 
Creative and Cultural Industries  513  27% 
Fisheries  31  2% 
Light Manufacturing  132  7% 
Tourism and Leisure  776  41% 
Transportation and Logistics  137  7% 
Total  1,882   

 

Breakdown of assistance by type requested: 

Ongoing 
Both  149  24% 
Grant  137  22% 
Loan  85  14% 
Unemployment  12  2% 
Wage Subsidy  240  39% 
Total  623   
                                                   Submitted 
*Both  454  24% 
Grant  1,247  66% 
Loan  125  7% 
Wage Subsidy  56  3% 
Total  1,882   

* Both refers to applicants who applied for a loan or grant plus wage subsidy. 

Since September 15, a total of 693 grants have been paid amounting to $1,732,500 and loans have been approved for 196 businesses totaling $2,983,351.

 Payments are being disbursed through the National Bank of Belize Limited. 

 

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