Dominica will launch an EC$19 million small business loan facility in December 2026, with loans available through AID Bank at a 3.5% interest rate.
Dominica: Prime Minister Dr. Roosevelt Skerrit has announced that the Government of Dominica will inject an additional EC19 million dollars into a new loan facility aimed at supporting the small business sector. PM Skerrit shared that the facility will come into effect in December 2026, urging the local entrepreneurs to structure their business proposals and financial records ahead of the launch.
Earlier last week during a town hall meeting of Roseau South in Loubiere, Prime Minister Skerrit reiterated the Government’s plan to support small business owners across the country, through the expansion of its loan programme. This announcement was first made in Parliament by the Minister of Finance, Economic Development, Climate Resilience and Social Security, Dr. Irving McIntyre, during his presentation of the National Budget for the fiscal year 2026/2027.
According to the Government, the new funding follows an earlier EC$27.8 million MSME Loan Facility that benefited 554 businesses. Loans will be accessed through the AID Bank, with the interest rate at 3.5 percent, making it affordable for many.
And to help small businesses further, to help you position yourself, to sustain what you're doing, to expand what you're doing, or even to create a new business, we're putting out an additional EC$19 million at the aid bank. That is in addition to the 27.8 we had a couple years ago, all of which will be consumed by the Dominican population, announced the Prime Minister.
He went on to invite the business owners to prepare themselves for this new loan facility, urging them to get all the necessary documents in order ahead of the launch so they can be ready to submit their proposals and take advantage of the financing opportunity.
The Prime Minister has noted the importance of this initiative for many small business owners in Dominica, explaining that with the loan’s interest rate being lower, it will allow them. to save more, lower their operating costs and potentially increase their profit margins.
And when you're involved in small business, every dollar you can save is important, shared the Minister.