The Tribune

By YOURI KEMP

Tribune Business Reporter

More than $400,000 in loan and grant financing has been provided to Dorian-devastated entrepreneurs by the Small Business Development Centre (SBDC), its senior advisor said yesterday.

Winston Rolle provided figures showing that, as of yesterday, some 13 loans that have been approved with funding allocated. Ten of these businesses are in Grand Bahama, and another three in Abaco.

Some 22 grants have also been awarded to 12 businesses in Grand Bahama and ten in Abaco. Total loan financing approved amounts to $150,000, with $105,000 allocated to Grand Bahama entrepreneurs and $45,000 for Abaco.

Total grants are valued at $253,000, with $158,500 approved for Grand Bahama and $95,000 for Abaco. The total Dorian-related financing provided through the SBDC now stands at $403,500.

There are still no confirmed figures for how many businesses have been impacted by Dorian, although some estimates placed the number as high as 1,200.

The government has allocated $10m from the dormant account fund to help micro, small and medium-sized businesses restore their operations following Dorian. Some, though, have suggested that this sum may not be nearly enough, particularly Abaco’s Chamber of Commerce president, Ken Hutton, and the Bahamas Chamber of Commerce and Employers Confederation chairman, Krystelle Rutherford-Ferguson.