Minister of Energy and Business Development Senator Lisa Cummins has lauded the Trust Loans programme as a resounding success, citing its effectiveness in both disbursement and repayment.
Speaking during the 2025 Estimates debate from the Well of the House of Assembly recently, Cummins said the initiative continues to fulfil its mandate of providing essential loan capital to Barbadians who would otherwise struggle to access financial support.
The minister was joined by Jerry Amos, chief executive officer of the Barbados Trust Fund Limited, who provided additional insights into the programme’s achievements and future plans. She noted that access to capital remains a critical challenge for micro, small, and medium enterprises (MSME), an issue that was highlighted in the recently completed MSME strategy and policy for Barbados.
“People want to be able to have more than a single source of income. They want to go into business. They need seed capital,” Cummins said.
“The Trust Loans was designed exactly for those reasons.”
The programme initially provided loans of $5 000 to individuals, particularly those in the informal sector who lacked banking history but had viable business ideas. Those who repaid their initial loans became eligible for a second round of funding, increasing to $10 000 to support business expansion.
Over the past five years, the Trust Loans programme has consistently disbursed substantial capital to entrepreneurs. Cummins said that from 2020 to 2025, annual disbursements ranged between $1.998 million and $3.4 million. These funds were allocated across various sectors, including agriculture, cultural industries, manufacturing, retail, and services, with a significant concentration in retail and tourism.
Cummins pointed to the 2024 ICC Men’s T20 World Cup, where small business owners who benefited from Trust Loans and Fund Access were able to showcase their products at the Broad Street Mall, “a first-of-its-kind initiative that temporarily transformed the street into a bustling marketplace”.
Amos spoke about the importance of outreach and accessibility. He said that a new satellite office had been established in St Peter to better serve entrepreneurs in the northern parishes, and a proactive approach was being taken to engage business owners through pop-up events and community road trips.
“We realised that a lot of people in our communities are not aware of the Barbados Trust Fund,” Amos said.
“So we felt it was important to take our programme to them, ensuring they benefit not just from loans, but also from business development support, financial training, and a thriving ecosystem to help their businesses grow.”
