More than seven thousand vendors and shop operators have applied for the government’s coping subsidy for businesses that will be closed during the two-week lockdown.
This update from small business and entrepreneurship minister, Kerrie Symmonds, as he led off debate on a supplementary for 3.5 million dollars to facilitate the disbursements.
By way of a service agreement with the ministry, the disbursements will be facilitated by Fund Access and the Barbados Trust Loans Limited.
But Minister Symmonds notes the process has identified a flaw, which his ministry will move with dispatch to correct. He also notes that the government has relaxed the conditions for businesses to access funds this time around as many felt they were too onerous last time and much of the funding was left untouched.
Since the announcement was made last Thursday, he says staff at the Ministry have been working tirelessly to process the online applications and do due diligence which revealed some people including government employees, were trying to take advantage of the system.
But he says government will not allow the actions of a few to impact whose are genuinely in need.
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