The first tranche of money from the $50 million dollar fund announced by government in the 2016 budget to assist small businesses has been disbursed to Fund Access.
The agency, according to Minister of Industry, International Business, Commerce and Small Business Development Donville Inniss, has received $10 million dollars to help foster growth of micro, small and medium sized enterprises.
He made the revelation during a members meeting of the Small Business Association held at Bagnall's Point Gallery, Pelican Village.
It was further revealed that between 1998 and 2016, Fund Access approved 1706 loans, totalling $51 million dollars.
Mr Inniss is of the view that Fund Access must find ways to become self-financing.