Six Tobago entrepreneurs have received monetary assistance from the Business Development Unit on the Division of Community Development, Enterprise Development and Labour. In a release, the division said five of the six received business grants while one received a business loan in the sum of $350,000.
The recipients received their funds at a ceremony at the division recently. The Enterprise Assistance Grant, launched in 2011, provide seed funding for start-up businesses in the micro sectors on the Island, while the business loan programme was initialised in 2003 to provide capital funding for businesses. To date, 840 grants and 259 loans have been approved to the sum of $14,876,000 and $24,718,000 respectively.