Bahamas News
BAHAMAS: Guaranteed Loans being offered by the Government to MSMEs Impacted by Hurricane Dorian
#Nassau, October 12, 2019 – Bahamas – Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest announced on Thursday, October 10, 2019, that $10 million will be taken from the Dormant Fund to help re-start the economies in Abaco and Grand Bahama.
The Deputy Prime Minister was speaking at a press conference at the Ministry to announce that the Access Accelerator, Small Business Development Centre (SBDC), through the Ministry of Finance and private financial partners, is offering government guaranteed loans to micro, small and medium-sized (MSMEs) enterprises directly affected by Hurricane Dorian.
He said, “Both Grand Bahama and Abaco represent some 18 per cent of our overall Gross Domestic Product and so it is in our interest and certainly significant for us to get them back and up and operating to as near normal as quickly as possible.”
The $10 million will facilitate grants, loan guarantees and equity capital for entrepreneurs residing and displaced from Abaco and Grand Bahama.
Attending the press conference were the partners involved in this initiative including Financial Secretary, Marlon Johnson; Chairperson of the SBDC Board of Directors, Geoffrey Andrews; Executive Director, SBDC, Davinia Grant; President, Grand Bahama Chamber of Commerce, Gregory Laroda; Abaco Chamber of Commerce Representative, Krista Albury; Chairman, the Bahamas Chamber Of Commerce and Employers Confederation, Khrystle Rutherford-Ferguson; and Chairman, the Bahamas Entrepreneurial Venture Capital Fund Mike Cunningham.
Ms. Grant explained that it is the goal of the SBDC to continue serving those clients it had before the storm while creating opportunities for other existing MSMEs to bounce back even better than before.
“I need to emphasise this. We will continue to take care of our existing clients. What is being discussed today is additional resources that have allocated by our government and our partnering financial institutions to help the 2,525 active MSMEs across Abaco and Grand Bahama, employing approximately 4,000 people.”
She said the government is providing five million dollars to guarantee up to 6.7 million dollars in loans through the Clearing Banks Association. Two million will be given equity in partnerships and 1.3 million in microloans and grants.
Ms. Grant stated that businesspersons displaced will fill out an application form. That form will be looked over and an executive summary created by volunteer advisors. Those summaries and supporting documents will then be sent to the relevant banks.
The form and list of documents needed is available on www.accessaccelerator.org under the title Resources, in a tab called Dorian. She noted that it is anticipated that the process will take no more than 10 business days and disbursements for grants and microloans will be processed in four to five business days.
Mrs. Grant said displaced businesspersons who are currently in Nassau will be processed at the Edmund Moxey Centre on Baillou Hill Road.
In Grand Bahama persons can go to the BAIC building initially, until the one-stop shop is established at the CLICO building, for assistance.
In Abaco, the NIB/Inland Revenue building will be made available.
The SBDC Executive Director noted that for businesses that have been in operation for less than three years, attendance at a three-day seminar would be required for them to access these opportunities as well.
The Bahamas Chamber of Commerce will verify the authenticity of businesses seeking to access funding in order to ensure transparency and accountability.
By Llonella Gilbert
Release: BIS
PHOTO CAPTIONS
DPM Turnquest
A press conference was held to announce that the Access Accelerator, Small Business Development Centre, through the Ministry of Finance and private financial partners, is offering government guaranteed loans to micro, small and medium-sized enterprises directly affected by Hurricane Dorian. The Deputy Prime Minister and other stakeholders spoke at the press conference at the Ministry of Finance, October 10, 2019. (BIS Photo/Kemuel Stubbs)
Davinia Grant
Executive Director, Small Business Development Centre, Davinia Grant explained the process for businesspersons to take advantage of the guaranteed loans for businesses impacted by Hurricane Dorian on the islands of Abaco and Grand Bahama. (BIS Photo/Kemuel Stubbs)
NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.
NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.
“Increased utilisation of these services should be viewed as a positive development,” NHIA said.
The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”
The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.
NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
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