The Small Enterprise Development Unit (SEDU) in the Ministry of Finance here on Nevis, continues to issue small business loans, in spite of the COVID-19 pandemic.
With $5 million injected into SEDU, the unit offers a maximum of $100,000.00 and persons can get up to 10 years to repay that amount. The interest rate is 4 percent.
The $5 million dollar injection is especially intended to assist women and youth entrepreneurs on Nevis.
Despite the abovementioned, evidently, the majority of the money remains.
Premier, the Hon. Mark Brantley at his press conference on October 29th, gave this update on the initiative:
The Premier made this appeal to the Nevisian public: