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BACKGROUND
The Barbados Agency for Micro Enterprise Development Ltd. (FundAccess) is a financial institution that assists persons who want to start-up or expand their small
businesses. The company has been in operation since January, 1998.
Since inception FundAccess has approved loans totalling $12,486,649 to five hundred and seventy nine (579) clients. Of these two hundred and fifty nine (259) were new
businesses and three hundred and twenty (320) were expansions. Six hundred and eighty eight (688) job opportunities have been created.
It has been confirmed by research undertaken by the Ministry of Tourism and International Transport that the consumer has increasingly become desirous of staying
within home or family-type accommodation, where a more authentic experience of the local tourism destination can be gained. Thus, Government has created a
$5.0 million Bed and Breakfast/Home Accommodation Loan Fund for persons to carry out renovations, refurbishments or new construction. FundAccess has been
selected as the disbursing agency.
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