Nearly 300 of applications received for small business grants
To support the local business struggling with the impact from the COVID-19, the Government of Cayman Islands initiated programs to provide relief measures to small businesses.
In an immediate response to provide support to micro and small businesses amid COVID-19, The Ministry of Commerce, Planning and Infrastructure implemented a number of relief measures to support micro and small businesses, including a low-interest loan programme, a technical assistance programme, a training programme; and a micro and small grant programme.
As of Wednesday afternoon, Government received 291 applications for grants for small businesses of which 205 were processed and 129 submitted to be paid and 53 further applications to be submitted yesterday; 14 applications did not qualify.
Regarding loans for small businesses, 32 applications were received, all were reviewed and 21 have been submitted to the Cayman Islands Development Bank for credit checks.
Initially, there was a very strong response of interest but that curtailed once the announcement of pension funds becoming available was made.
As of Wednesday afternoon, Government received 291 applications for grants for small businesses of which 205 were processed and 129 submitted to be paid and 53 further applications to be submitted yesterday; 14 applications did not qualify.
Regarding loans for small businesses, 32 applications were received, all were reviewed and 21 have been submitted to the Cayman Islands Development Bank for credit checks.
Initially, there was a very strong response of interest but that curtailed once the announcement of pension funds becoming available was made.
