Prime Minister Roosevelt Skerrit has announced that the new $30 million loan facility at the AID bank for small businesses will begin in February.
He made the announcement during his Annou Pale talk show recently.
“As you know, I have spoken about the small business loans at the Aid Bank; I can say come the first week in February, we are expected to see the commencement of the application for these loans,” he said. “This is expected to help entrepreneurs and boost business and economic activity in our country.”
The Prime Minister continued, “We hope that small business owners will take advantage of this opportunity to reinvigorate their businesses to ensure continuity and survival in these precarious times.”
He pointed to the opportunity that this initiative will provide to bring a new business idea to life, “to take that first step into business ownership and make a contribution to your personal and professional growth and of course, to the national development.”
Skerrit appealed to the staff at the AID Bank who are responsible for processing the documents, to avoid sending business owners “back and forth”.
“Let us be transparent with this; we made public the criteria, the documents required to apply. If somebody brings in the documents and they have all of the documents, be quicker with the processing of these applications, so that the monies can get into people’s hands and in the economy in a quick fashion,” he advised.
AID BANK SLOW SLOW SLOW WORSE BAMK I EVER SEE
Mackenzie don’t have an excuse now for not being able to finance the resumption of his toilet paper business which has been dormant since hurricane Maria. He should use this loan facility instead of just sitting back and giving the government Mepuis. A few more Dominicans will be happy to get some form of employment if he can get the business going again. It’s called private sector/ government partnership and is practiced by developed and developing countries all over the world.
Talk is cheap. Do you know the stringent terms of procuring a loan from this facility? Do you have any idea as to how much it would cost to exhume this business from the grave? Are you so sure the patronage will be sufficient so that the dance can pay for the lights?
Remember one has to consider the overheads. These include but not necessarily limited to electricity, water, employees, business fees and taxes, and the list goes on.
One has to also consider the present economic climate. The present economic climate in Dominica is bleak and cloudy as ominous storm clouds are hovering overhead. An imminent, disastrous deluge is in the making.
Indeed, talk is cheap, also mischievous and not inspiring as you have always demonstrated. I have always asked myself if you really love Dominica, you write so eloquently, but your mind is so gloomy, why, so long.
Being a business owner myself it is a love hate relationship with the banks mostly hate. I don’t even know how to they can solve this issue. Businesses would thrive if there was less red tape more so than getting loans from banks or anywhere. The governmental policies, taxes and drama cost you so much that a loan appears to be attractive but you’ll be paying back double what you borrow. Don’t mess with banks unless you fully understand what’s going to happen once you sign on those lines. The rules of the world were made by the rich for the rich. And so they shall keep it.
Good news to hear that money will soon be available to “qualified” small business owners as well as entrepreneurs. It is important to note that not all applicants will qualify for such loans since there are certain requirements, criteria posted therefore we should all be clear on what qualifies as a small business. Only qualified persons should apply.
I was also pleased to hear that the PM wanted those approved loans disbursed expeditiously since he is fully aware that having the funds in the hands of the qualified applicants will result in money being injected at a faster pace into the local economy.
Let’s hope “business minded folks” take advantage of this new resource.
The last thing a small business needs is the burden of a bank loan, no matter how tempting the terms.
I’ve personally known five entrepreneurs who went on to became multimillionaires. Not one of them started with a bank loan. On the other hand, I have known scores of small business foreclosed due to failing to repay their loan.
The economic climate in the country should be buoyant. Presently, the purchasing power of consumers in Dominica is extraordinarily weak. Too many working class people are unemployed. Small viable businesses need mostly grant to keep their heads above the surface of the water .Here is where the missing billions of moneys from the CBI program should be used to resuscitate the dying economy.
The $74 000 tax funded monthly rent for Roosevelt’s champagne lifestyle, plus Melissa’s $10 000 monthly salary for ghosting on the job, could be used to fund numerous small businesses. Where’s the outcry from the tax payers?
Another assist from DNO in the promotion of the Annou Pale publicity stunt radio show. This show is a factory constructed strictly for the manufacturing of lies.
How many times has Mr. Skerrit touted this plan during his tenure as prime and finance minister? Bureaucracy, political discrimination, foolery and dishonesty are factors that have rendered this announcement null and void. This empty promise is for public appeasement.
Small business is the engine of growth for the economy. Unlike tourism, the money circulates in the country to build the economy.
Mr. Skerrit doesn’t have a clue about finance nor does he care about resident Dominicans. His type of governance is strictly transactional and not people centered. Instead of governing for all the citizens, he does favours to get votes.
Small and medium size businesses have been devastated by this one man. If businesses were human beings, Mr. Skerrit would have been jailed for genocide.
I don’t know what is brewing but I’m getting vibes and smelling something in the wind Skerrit is up to something. He is craftily softening us up, shaping Dominicans mind. Could well be he is planning an early election with a view to change the constitution removing the post of President and replacing it with Executive President with nobody to object in the House because Savarin will not leave voluntarily and Skerrit can not make him as it is now.That way he does not need a P.M. really and Melissa will be First Lady, free to do her shopping. He would still be in control and in charge of the money and everything else. God help us if he is aiming for President for life. Man I really getting nervous and feeling sick in my stomach already.
You cannot dismiss any accusation when it comes to this notorious, habitual liar. Anything is possible.
Since you have mentioned Melissa, this thought came to me.. I’m surely not joking. What is it that Melissa does in government? Seriously! Is she taking home a hefty salary just to be an ornament?
DNO, this is no joke. Can you find out? I’m irate that someone is getting tax payers money for doing absolutely nothing. Dominicans, where is the outrage? The lazy media needs to go to work on this issue as well as many others. Wake up Kairi, DBS, GIS, Q95, DNO from your comatose state.Do your work!
Isn’t the members of the opposition in Parliament getting tax payers money for doing nothing too? Is that a joke? Is the leader of the opposition taking home a hefty salary for sleeping in Parliament?
Ibo MALAPROP France, didn’t you read the Algeezera Report where it exposed the signature of the REAL NOTORIOUS, HABITUAL LIAR?
Instead of making yourself a complete menace on DNO, your time will be better spent reading a book.
The constitution of Dominica allows a maximum tenure of the Office of President of only two, 5 year terms (Chapt. 21, sub. 1a).
Charles A. Savarin was nominated as President of Dominica on 30 Sept. 2013. He would have to leave office latest by 30 Sept. next year, 2023.&
De people who sell out of the back of their vehicle going to access these monies?
Don’t even think about it. Not a chance! The despotic government strategy is to create as many poor people as possible. In doing this, the majority of citizens would always depend on this one man/party for favours. The DLP led government scratches your back when you’re in need, so you have to scratch back theirs during an election.
The breadline in Dominica is as long as the eyes can see and getting longer. Skerrit is the chief architect of this political strategy. Let the people climb the steps of the Financial Centre, in huge numbers, begging me for alms. Then they will regard me as their Saviour.
Correct me if I’m wrong. Didn’t Skerrit say at one time that the people pray to God but it’s me they come to when they want something (to eat)?
IBO, you may also remember that, four years ago, the Prime Minister warned critics of his government housing program that adverse criticism is not welcome because his work is guided by God. “I am basically an instrument…you will not be criticizing the Government, you will be criticizing God.”
This man is drifting further and further away from reality. His narcissism is out of control. His statements are irrefutable signs that this guy is delusional, suffering from severe psychosis. A mad man presently occupies the office of the prime minister.
What is the criteria and documents required?
When was this made public?
Mr. Prime Minister tells us small business people something new please and thanks. It’s one year four months I am waiting for a call from Aid Bank to come collect my loan which was approved for ten thousand dollars. like some others I did not have to go back and forth all documents was given. #Still waiting