Private Sector Commission urges entrepreneurs to capitalise on new financing support

The Private Sector Commission (PSC) is urging persons to take advantage of the zero-collateral and zero-interest loans recently announced by President Dr. Irfaan Ali.

Earlier this week, President Ali announced that through the governments’ Small and Medium Enterprises (SME) Development Bank initiative, entrepreneurs will be able to access up to $10 million in zero-collateral loans.

Additionally, micro businesses will be able to apply for up to $3 million zero-collateral and zero-interest loans.

PSC Chairman, Gerry Gouveia Jr, in an interview with the News Room, urged business players to take advantage of these initiatives.

Already, the PSC is working with businesses to form consortiums with local and international partners. In 2026, the PSC will be launching its Business Support Desk, a forum where businesses can get free consultations.

“We are also launching a business support desk here where we will be offering free consultation in partnership with the IDB [Inter-American Development Bank] for business plan development, financial feasibility studies, supply chain management, as well as partnering with these SMEs to really promote access to finance accessing networks,” the PSC Chairman said.

This programme will aid in strengthening local businesses’ ability to establish themselves and compete on a global scale amid the growing interest by international business to invest in the country.