Owners of several of the businesses which secured start-up funding from the government’s Entrepreneurial Development Fund say the financing that they received played a significant role in helping them to launch their businesses.
The disclosure was made in the Senate on Wednesday, by the newly appointed government Senator Kiz Johnson speaking during her contributions to the debate on the National Budget, 2026.
Sen. Johnson said she spoke with the coordinator and the board chairman of the Fund to get a sense of their guiding principles for the programme. Both confirmed that assisting businesses to move from an idea to reality is central to their operations.
After learning that a total of $1.6 million were loaned to entrepreneurs up to October this year, Senator Johnson said she took it upon herself to speak directly with a sampling of business operators who benefited from the programme.
“It is noteworthy that the interest rates under this programme range from 1-3 percent, guaranteeing affordability for borrowers. I even went a bit further in my research, to speak directly with the business owners to get a first-hand their testimonials and their experiences. They spoke highly about the particularly low interest rate when compared to a traditional financial institution which helped to ease the financial burden,” she reported.
Sen Johnson identified the businesses and their owners as; The Glam Lounge owned by Daveile Payne, Fun Factory– Tamorla Millette, Fat Tire Electric Bike Tours- Elliot Aska and King Coal– Kem Hodge; all local businesses which have accessed the fund and confirmed that the fund helped them to access equipment and resources needed to operate and sustain it in the early stages of their operations.
“I am particularly pleased with the performance of the Entrepreneurial Development Programme and look forward to seeing more businesses come forward to take advantage of these opportunities, strengthening the private economy and expanding employment across our society,” she stated.
