The flagship programme of SBDC Bahamas is also known as the guaranteed loan programme which offers startup and existing businesses access to grant, loan and equity funding. 

All of our programmes and initiatives have their own set of requirements that vary based on what is being offered.

For our flagship programme, one would need a business plan to access capital. However, if a potential client does not have a business plan, we have tools in place to assist with the development of these businesses. 

SBDC Bahamas has funded clients on 15 islands in The Bahamas. These include:

1. Abaco

2. Acklins

3. Andros

4. Berry Islands

5. Bimini

6. Cat Island

7. Crooked Island

8. Eleuthera

9. Exuma

10. Grand Bahama

11. Inagua

12. Long Island

13. Mayaguana

14. New Providence

15. San Salvador

The Guaranteed Loan programme is the Flagship programme SBDC Bahamas offers to both startup and existing businesses within The Bahamas.

Through this programme, business owners are able to access up to $50,000 in funding and 75% Guarantee, up to $250,000 in equity funding and up to $20,000 matching grant funds.  

The Government of The Bahamas allotted $25 million for a period of 5 years ($5 million per year) to the Guaranteed Loan Programme. Through our partnerships, entrepreneurs also have access to up to $250k in equity investments and up to $20k in matching grant funding.  

The primary purpose of the funding is to guarantee (not disburse) loans approved under this programme with the aim to help entrepreneurs fund, launch and grow their businesses in a variety of industries.

• Bahamas Development Bank
• Bahamas Entrepreneurial Venture Fund
• Fidelity Bank
• Simplified lending
• Fidelity Bank (Bahamas) Limited
• Bank of The Bahamas
• Bahamas Entrepreneurial Venture Fund
• National Workers Co-Operative Credit Union

To help clients meet some of the critical requirements for the SBDC Bahamas programme and to gain a better understanding of the business they intend to launch or expand, these supplementary services are available:

1. Assisted business development through our Business Plan Writer Programme: Business plan writer collaboration

2. Assisted business development through our BICA partnership: Bahamas Institute of Chartered Accountants (BICA) accountant financial statement compilation.

SBDC Bahamas has partnered with Royal Caribbean Group to provide funding and training opportunities for micro, small and medium-sized enterprises (MSMEs) in the tourism sector. This programme is open for entrepreneurs on New Providence, Grand Bahama and Berry Islands.

Eligible existing businesses that apply through A2 with the following criteria:

∙ Must offer products and services for domestic and foreign tourists, Including but not limited to:
∙ Accommodations
∙ Tour Experiences
∙ Taxi Services
∙ Vehicle Rentals
∙ Boat Charters
∙ Food and Beverage
∙ Locally made Souveniers
∙ Cosmetics made with natural materials
∙ Native textiles and prints
∙ Performing Arts

∙ Must service the islands of New Providence, Grand Bahama or the Berry Islands;
∙ Must earn annual gross sales of less than $1 million;
∙ Must be Bahamian-owned;
∙ Provide all documents listed under the Application Requirements section; and
∙ Must complete 5 hours of mandatory online training.

Consideration will be made to whether or not a business has previously received funds facilitated through SBDC Bahamas.

Required Application Documents
∙ Executive Summary (To be completed in the application)
∙ 2-Minute Pitch Video
∙ Current Business License (Mandatory at the time of application)
∙ Business Filings
∙ Clean & Pristine Badge
∙ Valid Passport Photo Page
∙ Valid Driver’s License
∙ NIB Card
∙ NIB Registration Certificate
∙ Voter’s Card or Utility Bill no older than 3 months
∙ Official Vendor Invoices (The total value of invoices submitted should not exceed the funding threshold)
∙ Vendor Wire Instructions (Vendor payments will be executed via wire transfers to business bank accounts only. Credit card, check, or cash payments are not allowed.)

Group A
Earning Annual Sales of less than $250,000 can apply for a combined loan & grant funding up to $5,000

Group B
Earning Annual Sales between $250,001 and $500,000 can apply for combined loan & grant funding up to $10,000

Group C
Earning Annual Sales between $500,001 and $1,000,000 can apply for combined loan & grant funding up to $15,000

You will receive an email after submission of the application, with a link to the virtual training videos. If for some reason you do not see this email, sometimes unfamiliar emails can be flagged as spam. Kindly search all folders for an @sbdcbahamas.com sender's address. If you still haven't received it, visit our Help Centre and submit a ticket.

Please visit our website www.sbdcbahamas.com and click the "Help Centre" tab, submit a ticket, and let us know how we can help.

You can upload documents in .doc, .jpeg, and .pdf.

For consideration for customs and brokerage payments, you must provide an estimate or quote from your brokerage company or an estimate with details on how the funds are calculated. This should be uploaded as an invoice and a value inserted that counts towards your total funding.

Vendor payments will be executed via wire transfers to business bank accounts only. Credit card, check or cash payments are not allowed.

No, you do not need to be an SBDC Bahamas client, but you must be an entrepreneur with an existing business on Berry Islands, Grand Bahama and New Providence.

Under the Royal Caribbean Programme, applications will be approved to cover
business costs related to:
∙ Inventory
∙ Supplies
∙ Packaging
∙ Uniforms
∙ Marketing (including branding and advertising)
∙ Public Liability Insurance Coverage
∙ Permits and Licenses
∙ Accounting Software
∙ Training
∙ Equipment
∙ Leasehold Improvements
∙ Vehicles (including registration and insurance)

Liability Insurance coverage provides protection for the insured from risk of liabilities imposed by lawsuits and other claims.
Excursion liability insurance is required to allow small business tour and activity operators to be recommended to work along with cruise lines and hotels. Before a cruise line can determine which business to recommend or endorse, the following liability insurance requirements must be met.

Contingent General Liability, also referred to as Third Party or Public Liability, covers bodily injury and property damage to tourists in your care, custody and control while participating in an excursion tour. This coverage excludes auto, aircraft and motorboats. Non-motorized watercraft such as kayaks, canoes, sunfish, etc. are included. This does not replace any business property or liability coverage placed locally.

This coverage is excess auto liability over and above your local compulsory automobile insurance and includes coverage for owned, hired and non owned vehicles.

Contingent Watercraft Liability (Motorized) similar to the Contingent Auto Liability, this covers owned, hired and non-owned watercraft having a motor that carries passengers for hire.

∙ The insurance protects the business owner and guests from any risks associated with tour activities.

∙ Worldwide jurisdiction insurance will allow cruise passengers and hotel guests the benefit of filing a claim or suit from anywhere in the world if injured or suffering losses.

∙ Your business will be recommended by cruise lines which will increase your revenue.

A minimum of $1,000,000.