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Contact:
Julita Peter
 Monday, January 05, 2004 - The James Belgrave Micro-Enterprise
Development Fund- Belfund, is to make a number of adjustments that will see more
persons benefiting from the services of the Fund. According to Belfund’s General
Manager Marcellus Joseph, the Fund’s first move would be the removal of
guarantors, in that way making the fund more easily accessible.
“We are now working at probably removing the need for guarantors altogether that
is especially if we believe that the business is viable and can stand its own
ground. Where persons may have difficulties getting guarantors we may be able to
approve that loan for them without the guarantors; however we will be a lot
tougher on those businesses in terms of being there to ensure that they are
successful,” Joseph said.
The Belfund is further looking at developing a Marketing Unit, which would
assist several of its clients who at present are unable to adequately market
their products. “We believe that if we could assist them in that regard,
especially our manufacturing persons. It may make their businesses a little more
viable and put them in a position where they would be able to produce more and
employ more persons.”
Consideration is also being given to strengthening the Fund’s Business Support
department. Belfund has over the years made some successful interventions,
assisting in the opening of new micro businesses as well as in the expansion of
existing ones. The James Belgrave Micro-Enterprise Development Fund, was
established three years ago, to provide low cost loans, business training and
other support services to deprived unemployed St. Lucians in establishing their
own micro enterprises, thereby providing for themselves and their families.
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