GOVERNMENT OF SAINT LUCIA

Ministry of Commerce, Manufacturing, Business Development, Cooperatives and

Consumer Affairs
PRESS RELEASE
For Immediate Release

EXTENSION - FIRST CALL FOR APPLICATIONS

MSME LOAN-GRANT FACILITY

Castries, April 18th, 2023. The Ministry of Commerce, Manufacturing, Business Development,
Cooperatives and Consumer Affairs has extended its first call for applications for the Micro,
Small, and Medium Enterprise (MSME) Loan-Grant Facility to Wednesday, 31st May,
2023. The MSME Loan-Grant is an EC$10 million facility aimed at providing post COVID-19
pandemic relief to registered MSMEs. It is a combination of 70% grant and 30% loan funding at an
attractive interest rate of only 3%, with minimum collateral requirements.

Applications can be obtained online via the Ministry of Commerce’s website

(www.commerce.gov.lc). Alternatively, physical (paper) application forms can be picked up at the
Ministry of Commerce. Please note:

1. Applications will be accepted from 8:00 am to 3:00 pm, Monday to Friday.

2. All applications should be submitted to Reception, at the Ministry of Commerce, Fourth
Floor, Heraldine Rock Building, Castries Waterfront.

The application must be completed in duplicate (with original signature) and submitted with a
business plan that includes financial projections. Only one (1) application per person is permitted.
(An individual or entity may only benefit from the Loan-Grant Facility once.) Applicants must be
Saint Lucian nationals between the ages of 31 and 60. Supporting documents such as proforma
invoices and health certificates must be provided.

__________________________________________________________________________________
Administration: 468-4218 | Commerce: 468-4238/4210 | International Trade: 468-4570
Investment: 468-4291/4265/4266 | SEDU: (758) 468-4223/4220 | Consumer Affairs: (758) 468 4232/4224
Fax: 453-7347 | Email: mincommerce@govt.lc | Website URL: www.commerce.gov.lc
Facebook: www.facebook.com/CommerceSaintLucia
Additionally, applicants must undergo a credit check, relevant training and technical assistance, as
well as adhere to the programme's monitoring requirements if successful.

Prospective businesses may qualify for funds up to $10,000, while businesses in existence no
more than two years can seek up to $20,000 in funding. Businesses in existence for over two
years can access up to $25,000. Priority areas include Manufacturing (e.g. agro-processing),
Agriculture, Agro-tourism and Services (Beauty and Wellness, Creative Industries, ICT and
Professional Services). Accommodation and non-profit businesses do not qualify under this
facility.

Eligible use of funds: equipment upgrade/modernisation; food safety standards/certifications;

the purchase of raw materials; direct supplies and promotional material; obtaining technical
assistance; facilitating product and service development; retrofitting premises for standardization;
accessing training programs that benefit the business; packaging and design.

Ineligible use of funds: payment of overheads such as salaries, rent and utilities, etc.; personal
use; travel costs; interest owed on outstanding loans; tax arrears; debts and provision for losses
or debts; items already financed by another framework and sponsorships.

For more information, contact the Ministry’s Small Enterprise Development Unit (SEDU) at 468-
4218 or 468-4223.

-End-

Administration: 468-4218 | Commerce: 468-4238/4210 | International Trade: 468-4570

Investment: 468-4291/4265/4266 | SEDU: (758) 468-4223/4220 | Consumer Affairs: (758) 468 4232/4224
Fax: 453-7347 | Email: mincommerce@govt.lc | Website URL: www.commerce.gov.lc
Facebook: www.facebook.com/CommerceSaintLucia