St. Kitts Nevis Anguilla National Bank partners with gov’t to support small business growth

The St. Kitts Nevis Anguilla National Bank (SKNANB) has announced a strategic partnership with the Ministry of Small Business, Entrepreneurship, and Cooperatives aimed at strengthening the economic landscape by promoting the growth of the small business sector. This collaboration introduces tailored financial solutions to help bridge the gap between financial institutions and the country’s enterprising citizens.

Central to this new initiative are the Business Start-up Loan and the Business Flex Loan. 

The Business Start-up Loan is designed to provide crucial support, including working capital, with loan amounts determined by the quality and potential of the business project. 

The Business Flex Loan offers a short-term line of credit, asset acquisition financing, and similar financial needs which will give small business owners flexible options to manage their operations.

SKNANB’ Chairperson, Carol Boddie, emphasised the importance of fiscal responsibility and reminded business owners that the initiative is an opportunity, not a handout. Urging clients to focus on accountability, Boddie highlighted the potential of small businesses to create jobs and add value to the community.

Prime Minister Dr. Terrance Drew expressed gratitude to SKNANB for empowering citizens to improve their economic standing. He echoed the call for financial prudence among small business owners.

Minister of Small Business, Entrepreneurship, and Cooperatives et al., Samal Duggins, also praised the National Bank for its forward-thinking approach. He recognised small businesses and entrepreneurs as critical drivers of economic growth and said he looked forward to further collaboration with the bank to create a more robust and sustainable environment for businesses to thrive in.

As the leading banking institution in St. Kitts and Nevis, the SKNANB’s commitment to fueling economic growth is evident through this initiative, which is geared to making a significant impact on the small business sector.

Photo: SKNANB Chair, Carol Boddie, at the launch