A new MoU was signed between the recently launched Samoa Business Hub – SBH, The Development Bank of Samoa (DBS), Ministry of Finance (MoF) and the Central Bank of Samoa (CBS) to implement a Business Loan Guarantee Scheme (BLGS) that aims to improve access to finance for small business development.
DBS currently supports more than four hundred (400) businesses from micro to medium enterprises in all economic sectors, under the Business Loan Guarantee Scheme (BLGS) operated by the Samoa Business Hub.
The new MoU provides an increase in guarantee limit of up to $50k to support business credit financing and a more comprehensive assessment, monitoring and evaluation framework that promotes equal access to business opportunities for everyone.
Businesses under the Scheme are supported by targeted business training and mentoring provided by SBH as well as joint monitoring of the business plan with the DBS.