BusinessEconomyLocal NewsNews Trust Loan Fund seeking to broaden its mandate by Barbados Today 24/11/2019 written by Barbados Today Updated by Desmond Brown 24/11/2019 2 min read A+A- Reset Share FacebookTwitterLinkedinWhatsappEmail 298 A year after opening its doors to finance micro, small and medium-sized enterprises across the island, the Trust Loan Fund is seeking to broaden its mandate, Minister of Small Business, Entrepreneurship and Commerce, Dwight Sutherland said. During a church service at the St Luke’s Anglican Church to mark the milestone, he hailed the first year a success. According to Sutherland, the fund’s nine employees made good use of the $10 million allocated by Government, dispersing approximately 2,700 loans, each totalling up to $5,000. “The Trust Loan Fund has done a tremendous job for its first year of operation and in this element of building our communities, we will be focusing on something called clusters whereby we take those businesses, we hold their hands and ensure they are sustainable. We will form partnerships with them and bring in those persons who have been successful… to become mentors,” he said. Among those in the congregation were the Prime Minister’s Chief Economic Counsellor and Chairman of the Barbados Trust Loan Fund, Dr Clyde Mascoll as well as the fund’s General Manager, Jerry Moss. Meanwhile, Minister Sutherland announced a Memorandum of Understanding between the St Luke’s Anglican Church and the Trust Loan Fund as the organisation seeks to expand its mandate by empowering citizens socially. You Might Be Interested In Crystal Beckles-Holder, 2nd runner up in regional competition GUYANA: Body of child found after gold mine collapses Barbadians asked to help with return tickets for Haitians He explained the fund would be adopting new approaches to realise the goal of creating wealth by empowering small business people. “Whereas we may see the money as purely economic, it has a social element to it…we decided we must focus on the social side as it relates to the micro, small and medium sized enterprises. What can I do for families, what can I do for schools, what I can do for churches, what can I do to stem the violence in this country?” he asked. “Indeed, these partnerships with the Anglican Church and the other churches can address some of the challenges that we face as a Government,” said Sutherland. (KS) Barbados Today Stay informed and engaged with our digital news platform. The leading online multimedia news resource in Barbados for news you can trust. You may also like QC win Under-15 basketball championship 07/07/2025 Update: St Bernard’s Primary to remain open 07/07/2025 BUT, Education Ministry in discussions at St Bernard’s Primary 07/07/2025