The Small Business Development Finance Trust Inc. (SBDF) granted $279 million in loans last year, a decrease of almost $28 million, according to its 2017 Annual Report.
The SBDF held its 17th Annual General Meeting on Wednesday at the Regency Hotel on Hadfield Street, where it was revealed that the amount of loans granted to micro, small and medium-scale businesses in 2017, fell by almost 100, dropping to 439, from 2016’s total of 532 and 2015’s 539.
According to the 2017 Annual Report, the 439 loans granted last year was the lowest that have been granted in 10 years. During this decade, the years 2010, 2011 and 2012 were the most productive when 685, 710 and 722 loans were granted, respectively.
The 439 loans granted last year carried a value of $279,317,000, as compared to 2016, when the loans carried a value of $307,307,000.
