{"id":249865,"date":"2020-05-22T09:59:19","date_gmt":"2020-05-22T13:59:19","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=249865"},"modified":"2021-03-14T16:49:39","modified_gmt":"2021-03-14T20:49:39","slug":"government-signs-5-million-loan-agreement-with-aid-bank-to-assist-small-businesses","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/government-signs-5-million-loan-agreement-with-aid-bank-to-assist-small-businesses\/","title":{"rendered":"Government signs $5 million loan agreement with AID Bank to assist small businesses"},"content":{"rendered":"<figure id=\"attachment_249872\" aria-describedby=\"caption-attachment-249872\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-249872\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/Skerrit-AID-Bank-2-642x387.png\" alt=\"\" width=\"640\" height=\"386\" srcset=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/Skerrit-AID-Bank-2-642x387.png 642w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/Skerrit-AID-Bank-2-300x181.png 300w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/Skerrit-AID-Bank-2-768x463.png 768w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/Skerrit-AID-Bank-2-640x386.png 640w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/Skerrit-AID-Bank-2.png 1249w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-249872\" class=\"wp-caption-text\">PM Skerrit speaking at the loan signing ceremony with AID Bank on May 21, 2020. The image was taken from the Facebook page of the Office of The Prime Minister<\/figcaption><\/figure>\n<p>The Government of Dominica, on Thursday, signed a $5 million loan agreement with the AID Bank to assist small businesses that have been impacted by the Covid-19 Pandemic.<\/p>\n<p>Prime Minister Roosevelt Skerrit, who was addressing the signing ceremony, said citizens should take advantage of the facilities.<\/p>\n<p>\u201cI want to say to our citizens that it is important that we take advantage of these facilities,\u201d he said. \u201cOne percent interest on any loan amount is a significant consideration.\u201d<\/p>\n<p>Skerrit pointed out that the generous terms must also be considered in terms of the repayment, schedule and the grace period,<\/p>\n<p>\u201cI am happy to note that the AID Bank will seek to efficiently respond to the applicants because, for many of these applicants, time is certainly of the essence and seeing that our country is gradually reopening it is important for them to reposition themselves so that their business activities can resume and resume in a very positive manner,\u201d the Prime Minister stated.<\/p>\n<p>He said bus drivers can also access the loans which can be used for a wide range of business activities.<\/p>\n<p>\u201cIt could help cover your recurrent cost, your overheads or to buy equipment or machinery for your small business,\u201d he explained. \u201cWe have tried to tailor this loan facility to respond to the specific challenges which businesses are encountering.\u201d<\/p>\n<p>The prime minister went on to say that in normal circumstances, one will not get a small business loan to pay salaries or to cover recurrent expenditure.<\/p>\n<p>Skerrit again made mention of the $15.7 million which will be provided to the Dominica Social Security (DSS) to provide income support to those whose income has been affected during this pandemic.<\/p>\n<p>\u201cI can also say to the citizens you are also able to apply now as we speak for the income support at the Dominica Social Security\u2026,\u201d Prime Minister Skerrit stated. \u201cWe will be providing the DSS with some 15.7 million-dollars to provide income support to those whose income would have been affected as a result of Covid-19.\u201d<\/p>\n<p>He encouraged small businesses to apply for these loans.<\/p>\n<p>\u201cNo matter how small the amount may be in people\u2019s eyes or our own view, whether it is $1.00 or $5.00, it will make a difference in our lives,\u201d the prime minister said.<\/p>\n","protected":false},"excerpt":{"rendered":"The Government of Dominica, on Thursday, signed a $5 million loan agreement with the AID Bank to assist small businesses that have been impacted by the Covid-19 Pandemic. Prime Minister Roosevelt Skerrit, who was addressing the signing ceremony, said citizens&#8230;","protected":false},"author":15,"featured_media":249872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[265,282,36,11,235,9],"tags":[],"class_list":["post-249865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-covid-19","category-covid-19-news","category-economy-development","category-general","category-homepage-carousel","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government signs $5 million loan agreement with AID Bank to assist small businesses - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/government-signs-5-million-loan-agreement-with-aid-bank-to-assist-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government signs $5 million loan agreement with AID Bank to assist small businesses - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"The Government of Dominica, on Thursday, signed a $5 million loan agreement with the AID Bank to assist small businesses that have been impacted by the Covid-19 Pandemic. 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