Credit Guarantee Scheme for Businesses
Enhanced Credit Guarantee Fund
Export Finance Guarantee Scheme
Export Credit Insurance
Industrial Credit Fund
Tourism Loan Guarantee Facility
Value Added Tax Receivables Liquidity Facility
Trade Receivables Liquidity Facility

CREDIT GUARANTEE SCHEME FOR BUSINESSES

The Credit Guarantee Scheme for Businesses is sponsored by the Central Bank of Barbados in an effort to assist businesses in obtaining adequate security for their loans from credit institutions. The Scheme is designed to offer a substantial degree of protection to credit institutions against possible losses in respect of the credit granted to businesses.
Any credit institution desirous of participating in the Scheme may apply to the Central Bank to do so and, upon approval, will be able to obtain guarantees on credit facilities to eligible borrowers.

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Operating Regulations - Enhanced Credit Guarantee Fund
Summary Sheet - Enhanced Credit Guarantee Fund
Brochure - Enhanced Credit Guarantee Fund

ENHANCED CREDIT GUARANTEE FUND

The Enhanced Credit Guarantee Fund (ECGF) was set up to assist small and medium-sized enterprises (SMEs) who are in need of credit for business development projects. The Fund assists by providing the necessary security for SMEs so they can more easily access usiness development loans from approved financial institutions.

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Operating Regulations - Enhanced Credit Guarantee Fund
Summary Sheet - Enhanced Credit Guarantee Fund
Brochure - Enhanced Credit Guarantee Fund

EXPORT FINANCE GUARANTEE SCHEME

The Central Bank of Barbados established the Export Finance Guarantee Scheme in 1978 to enable exporters to obtain liberal finance facilities from their bankers for the production of goods for export. The Scheme offers both pre-shipment and post-shipment coverage.
Pre-shipment coverage is provided in respect of any credits granted by a commercial bank to an exporter for the purpose of manufacturing, processing and/or packaging of goods for export against a firm contract or agreement of sale with a foreign buyer.
Post-shipment coverage is provided in respect of any credits granted by a commercial bank to an exporter through the purchase, negotiation or discount of export bills relating to the shipment of goods out of Barbados under contract or agreement of sale with a foreign buyer.

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Proposal for an Export Finance Guarantee
Application Receipt Form

EXPORT CREDIT INSURANCE

The Central Bank of Barbados established the Export Credit Insurance Scheme in 1978 to promote and facilitate the growth of Barbados’ manufactured exports. The Scheme provides insurance cover against losses arising out of non-payment by overseas buyers for Barbadian manufactured goods.

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Proposal for a Shipments Policy - Export Credit Insurance
Application Receipt Form

TOURISM LOAN GUARANTEE FACILITY

Tourism continues to be the most productive sector in terms of its contribution to the Gross Domestic Product (GDP), employment and foreign exchange earnings to Barbados. However, the slowdown in the global economy has impacted negatively on this sector, leading to the creation of the Tourism Loan Guarantee Facility (TLGF) by the Government of Barbados under the administration of the Central Bank of Barbados.
It will provide guarantee support to ensure the long-term sustainability of the sector.

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Application Form - Tourism Loan Guarantee
Application Receipt Form

INDUSTRIAL CREDIT FUND

The Industrial Credit Fund (ICF) was established by the Government of Barbados in September 1983 to contribute to the development of the country by stimulating growth of output, employment and foreign exchange earnings of the Barbados economy.  To this end, the ICF provides medium and long-term credit to productive enterprises operating mainly in the private sector.

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List of Requirements - ICF Applications
Application Form - Industrial Credit Fund
Application Receipt Form

VALUE ADDED TAX RECEIVABLES LIQUIDITY FACILITY

The Central Bank of Barbados commenced the operations of the Value Added Tax Receivables Liquidity Facility (VRLF) for the purpose of guaranteeing timely settlement of refunds owed by the Barbados Revenue Authority to small businesses. Under this facility, eligible financial institutions will factor the approved refunds due to certified small businesses for a value of $50,000 or less for a period not exceeding 90 days.

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Application Form - Value Added Tax
Receivables Liquidity Facility.pdf


TRADE RECEIVABLES LIQUIDITY FACILITY

The Trade Receivables Liquidity Facility (TRLF) is a program facilitated by the Government of Barbados that allows small businesses that have delivered goods or services to a Ministry/Department of Central Government to receive timely payment at a discounted rate. All outstanding invoices will be honored within seven (7) days.

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Application Form - Trade Receivables Liquidity Facility
Application Receipt Form
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