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Small businesses receive financial assistance
Aid has begun to be distributed to Micro Small and Medium Enterprises (MSME) through a collaborative effort led by the Ministry of Investment, Trade and Commerce, the Ministry of Labour, Local Government and Rural Development, and BELTRAIDE.
A total of 3,994 applications were submitted for assistance under the program. Of these applications, 1,489 were abandoned, 623 are still ongoing and 1,882 have been submitted. Abandoned applications refer to those who did not complete the application, applied to the MSP in error, or were no longer interested in applying for the assistance. Ongoing applications require additional information such as banking information or industry, and applicants have been contacted to complete their applications.
The preliminary breakdown of the submitted applications by industry are as follows:
Industry No. of Applicants Percentage
Agriculture 154 8%
Agro-processing 138 7%
Commercial Free Zones 1 0%
Creative and Cultural Industries 513 27%
Fisheries 31 2%
Light Manufacturing 132 7%
Tourism and Leisure 776 41%
Transportation and Logistics 137 7%
Total 1,882

Breakdown of assistance by type requested:
Both 149 24%
Grant 137 22%
Loan 85 14%
Unemployment 12 2%
Wage Subsidy 240 39%
Total 623
Submitted
*Both 454 24%
Grant 1,247 66%
Loan 125 7%
Wage Subsidy 56 3%
Total 1,882

Since September 15, a total of 693 grants have been paid amounting to $1,732,500 and loans have been approved for 196 businesses totaling $2,983,351. Payments are being disbursed through the National Bank of Belize Limited.
If you have not received a response via text message from the MSME Support Program, call 613-7342 to check on the status of your application. Those who have been contacted to complete their application are encouraged to do so as soon as possible.