The National Development Bank (NOB) and the Association of Surinamese Businesses (VSB) recently hosted a joint information session to educate entrepreneurs about financing and guarantee facilities. The session targeted VSB members seeking credit solutions outside the traditional banking system. NOB offers investment loans of up to USD 100,000 and working capital loans of up to USD 50,000, featuring lower interest rates, extended repayment periods, and flexible grace periods. NOB emphasized its role as a development partner for entrepreneurs struggling to access commercial credit. In collaboration with the Inter-American Development Bank (IDB), loan limits can reach up to USD 500,000, though with shorter repayment terms (3–5 years for investment loans and 1–3 years for working capital). NOB has allocated a USD 10 million IDB facility for this purpose. Project feasibility is prioritized over full collateral coverage. In cases of shortfall, the Suriname Guarantee Fund, managed by NOB, can provide up to 80% guarantee on the loan amount. Entrepreneurs in rural areas without hard collateral may also qualify if they submit an official approval letter from local authorities. A minimum 10% equity contribution is mandatory, which can include liquid assets, previously acquired equipment, or demonstrable business investments. Projects focused on trade (buying/selling), land sales, subdivision, and primary logging are excluded from financing. VSB views this collaboration as crucial for strengthening local entrepreneurship and making development financing accessible to a broader range of businesses.
