The banking sector is being urged by the Small Business Association of The Bahamas to give small companies “a clear undesrtanding of what they are looking for” and to detail the requirements and conditions being sought form entrepreneurs wishing to qualify for loans and credit lines.
Marlon Johnson, the association’s corporate secretary, has criticised the manner in which commercial banks have marginalised small businesses and effectively pushed them out of the pool of lending candidates. He urged the banks to be “imaginative and progressive” and enter into dialogue with members on how the two sides could better work together.
Mr. Johnson said he feels the association needs to put pressure on the banks to work with small companies and ensure their voice is heard on matters affecting them. He added that Bahamian small business owners also need to work to educate themselves about resources and tools available to assist them with start-ups, development and growth of their business and avenues to access those resources
Source: Article By Yolanda Deleveaux, The Tribune
