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.
- Loan funding per application is set at a minimum of BDS$50,000 and a maximum of BDS$5.6 million. The interest rate is 5% per annum fixed, on a reducing basis.
- Loan repayment periods are 15 years or less including a 5 year moratorium on the repayment of interest and principal.
- Security is required, usually in the form of a legal charge over assets acquired with the proceeds of the loan and or any other collateral that might be deemed necessary.
For the 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 The Small Hotels of Barbados Inc.
See Guidelines and Loan Application Procedures for Members of the Small Hotels of Barbados Inc.
Small Hotels Investment Fund Investment Criteria