The Private Sector Commission (PSC) is encouraging individuals to seize the opportunity provided by the recent announcement from President Dr. Irfaan Ali regarding zero-collateral and zero-interest loans.
Earlier this week, President Ali unveiled that through the government’s Small and Medium Enterprises (SME) Development Bank initiative, entrepreneurs can access loans of up to $10 million without the need for collateral. Additionally, micro businesses can apply for loans up to $3 million under the same zero-collateral and zero-interest terms.
In an interview with the News Room, PSC Chairman Gerry Gouveia Jr. emphasized the importance of taking advantage of these initiatives. “This is a unique opportunity for business players to access funding that can help them grow and thrive,” he stated.
The PSC is actively collaborating with businesses to form consortiums with both local and international partners. As part of their efforts, the PSC will launch a Business Support Desk in 2026, which will provide a forum for businesses to receive free consultations.
“We are also partnering with the Inter-American Development Bank (IDB) to offer support in business plan development, financial feasibility studies, and supply chain management, helping SMEs promote access to finance and expand their networks,” Gouveia Jr. explained.
This program aims to bolster the capacity of local businesses to establish themselves and compete on a global scale, especially amidst increasing foreign interest in investing in Guyana. The PSC is optimistic that these initiatives will strengthen the private sector and foster economic growth throughout the nation.
