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SERVE RECOVERY LOANS W CEF IMPACT ANALYSIS AND PROPOSAL.
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324 SMEs. A stack of paper money Description automatically generated with low confidence.
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SERVE RECOVERY LOAN PROGRAM OCTOBER 2021 THROUGH DECEMBER 2022 TOTAL LOANS FACILITATED WITH CREDIT ENHANCEMENT - $2.69 B NUMBER OF ENTERPRISES ASSISTED - 324.
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THE CREDIT ENHANCEMENT FACILITY, IN TANDEM WITH SERVE RECOVERY LOANS HAS MADE A SIGNIFICANT IMPACT ON THE SME SECTOR SPECIFICALLY : 74% OF CEF BACKED SERVE LOANS WERE GRANTED TO SMALL AND MICRO BUSINESSES 962 NEW JOBS WERE CREATED BY MICRO & SMALL BUS., VS 437 BY LARGE & MED BUS. SERVE LOANS TO RURAL ENTERPRISES WAS 63% OF TOTAL LOANS.
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Enterprise Size Sum of Loan Amount granted % Of Total.
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Enterprise size Sum of New Permanent Sum of Loan Jobs Amounts granted Sum of Current Permanent Employees.
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Sum of Serve CEF Loans Granted BRANCH LOCATION RURAL SUB TOTAL BRANCH LOCATION KGN & PORTMORE SUB 1,687,722,663 TOTAL Sum of CEF Loans Granted 1,007,215,438.
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WE NEED ANOTHER TRANCHE OF SERVE RECOVERY LOANS FROM MOFPS BECAUSE THE IMPACT IS VERY BENEFICIAL: THE LOANS ARE FOSTERING GREATER ACCESS TO FINANCE FOR SMALL AND MICRO BUSINESS JOBS ARE BEING CREATED RURAL COMMUNITIES ARE BENEFITTING VAST MAJORITY OF LOANS ARE EXPECETD TO BE REPAID (BANKING SYSTEM NPL IS ~3%.