FUNDING FOR SMALL HOTELS & THE SMALL HOTELS OF BARBADOS INC.
- The Small Hotels Investment Fund (SHIF) assists small hotels with marketing, management, procurement of joint services and refurbishment. The SHIF finances projects that clearly demonstrate that they will enhance the financial viability and operational performance of the small hotel sector.
- The SHIF is restricted to the Small Hotels of Barbados Inc. (SHBI) and its members whose properties comply with the minimum standards established by the European Travel Trade.
- The maximum funding per application is $5.25 million. While there is no specified minimum for the SHBI, the minimum loan size for SHBI members is $50,000.
- Loan repayment periods are 10 years or less including a 5 year moratorium on the repayment of interest and principal.
- Security on loans will generally take the form of a first legal mortgage but the Fund is prepared to take second mortgages in instances where 80% of the market realisation value of the underlying security is adequate to liquidate all prior charges and the Fund's exposure.
FOR ADVANCES TO THE SMALL HOTELS OF BARBADOS INC.
See the Policy and Funding Guidelines for advances to the Small Hotels of Barbados Inc.
APPLICATION PROCEDURES RELATING TO INDIVIDUAL MEMBERS OF THE SMALL HOTELS OF BARBADOS INC.
See Guidelines and Loan Application Procedures for Members of the Small Hotels of Barbados Inc.
INVESTMENT CRITERIA
NEW SMART FUND ESTABLISHED
Funding available for renewable energy and energy efficiency projects in Barbados!
EGFL is now ready to receive applications for the Pilot Consumer Finance Facility.
