What is an SME?
- The term SME Lending refers to lending to businesses with total exposures (direct and indirect) of up to $1 Million
- Small businesses are those with loans/lending facilities up to $200,000
- Medium-sized businesses are those with loans/lending facilities above EC$200,000 but no higher than EC$1M
Bank of Saint Lucia’s SME Unit. Bank of Saint Lucia recognizes the real challenges that SMEs face and has devised a strategy to assist them with one of their most pressing issues – access to finance. In 2008, the bank collaborated with the International Finance Corporation (IFC) in the development of SME policy and guidelines, and subsequently signed a loan agreement with the IFC which provides funds for on-lending to SMEs.
Bank of Saint Lucia’s SME Unit is staffed and equipped to handle the lending as well as other product and service needs of SME clients. The Unit is located at the Financial Centre branch on Bridge Street in Castries. The same service, however, can be accessed at all branches island wide.
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