NASSAU, Bahamas — Several commercial banks are adjusting some of their portfolio allocations to be able to now approve commercial loans for small and medium-sized businesses, according Executive Director of the Small Business Development Center (SBDC) Davinia Blair, the Nassau Guardian reported August 24.
It has not been the practice of commercial banks to approve loans for small businesses without a substantial capital injection from the borrower. However, Blair said because of the government’s commitment to provide $5 million over the next five years for the SBDC initiative, private lenders have already verbally committed to take on the risk. https://thenassauguardian.com/2018/08/24/commercial-banks-private-lenders-commit-to-funding-smes/
