The Business and Cooperatives Development Division mostly supports registered Micro, Small and Medium Enterprises (MSMEs) through the provision of business trainings, promotions and business advisory services.
These advices are based on detailed research activities, including detailed market research that the Division carries out through its Business Unit in coordination with relevant stakeholders, partners and service providers.
In terms of trainings, the Division’s role is to coordinate with Private Sector Service Providers to provide training for identified SMEs and their selected staff members. In the provinces, these trainings are channeled through the Industrial Development Division’s (IDD) Provincial Offices and the BCD’s Business Development Center (BDCs) in Noro. The Division also works with the Marketing and Export Promotions Division (MEPD) to promote products and services offered by local SMEs. The Division also does some financial advisory services for SMEs, particularly for financing options. One such option is the Business Loan Guarantee Scheme for Micro, Small and Medium Enterprise businesses.
How do I apply for the Scheme?
A prospective borrower (loan applicant) can only make his/her application direct to one of the Scheme’s participating Partner Banks and not to the Central Bank. It is the Partner Bank’s prerogative to nominate a loan application to be covered under the credit guarantee scheme.
Download the MSME Business Loan Guarantee Scheme.