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Royal Caribbean, Access Accelerator launch financing programme for Bahamas MSMEs
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Royal Caribbean, Access Accelerator launch financing programme for Bahamas MSMEs
jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.
Bahamas projects a go, says Royal Caribbean CEO ‘Because of the pandemic and the fact that we had no earnings, we had to press pause’ Michael Bayley.
While Royal Caribbean International had to put some of its capital expenditure projects across the world on hold because of the COVID-19 pandemic, the cruise line is moving ahead with its projects in The Bahamas, including its beach club on Paradise Island, the company’s Chief Executive Officer Michael Bayley said yesterday.
Bayley, who was speaking to the Caribbean Tourism Organization (CTO) about cruising, contended that the company had to prioritize which projects it would continue to take on while there was no revenue being earned.
The St Kitts Nevis Observer
Royal Caribbean Group has announced it will gift the Access Accelerator Small Business Development Centre $250,000 to support a financing program for micro, small and medium-sized enterprises (MSMEs) in the tourism sector.
The Access Accelerator’s Executive Director Davinia Bain said yesterday during a webinar to apprise businesses of opportunities available through Royal Caribbean’s home porting initiative, that the $250,000 will be dispersed as loans, so that, that tranche of money continues to grow and support more businesses.
Bain said the interest rate on those loans will be extremely low.
According to an Access Accelerator statement on the disbursement, the funds will be provided to businesses in Grand Bahama, the Berry Islands and New Providence.
Access Accelerator Small Business Development Centre (SBDC) Executive Director Davinia Bain.
NASSAU, BAHAMAS The Royal Caribbean Group and Access Accelerator Small Business Development Centre have launched a financing program to support micro, small and medium-sized enterprises (MSME) in the tourism sector of The Bahamas.
Royal Caribbean Group will provide a $250,000 donation to the Access Accelerator to establish a fund that will soon be providing small businesses on Grand Bahama, the Berry Islands and New Providence the necessary financing for expansion of the Bahamian tourism product.
Access Accelerator Executive Director Davinia Bain said: “This partnership has the potential to be the largest linkage between Bahamian MSMEs and the global market. It gives local entrepreneurs direct access to expand their offerings to cater to millions of visitors who vacation in The Bahamas, including those sailing with one of the largest cruise companies in the world.”
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