Small and medium-sized businesses in all ten regions of Guyana can now borrow up to GUY$3 million with no interest and no collateral. The Government of Guyana launched the Guyana Development Bank on October 5, delivering a commitment the PPP/C Government made in its 2025 manifesto and that President Dr. Mohamed Irfaan Ali had announced earlier. The government says the goal is to improve access to and affordability of financing for businesses with credible, viable plans to start up or expand.
Borrowers can choose between two types of loans. Quick Loans cover amounts below GUY$300,000 and come with a simplified process and reduced documentation. SME loans run from GUY$300,000 to GUY$3 million and need slightly more paperwork, though the government says the system is meant to stay simple and easy to use.
Everything runs through an online platform at gdb.gov.gy, from the first application to the final repayment. Applicants submit their supporting information there, and borrowers use the same platform to manage their loans through their full lifecycle.
Once a loan is approved, the money goes straight into the borrower’s bank account. Repayment also goes through the banking and financial system.
Applicants who would rather talk to a person can use the platform to request an appointment with a bank officer for face-to-face help.
The government says the bank fits its push toward digitization, and it expects the bank to open up growth and expansion opportunities for the SME sector across the productive spectrum. It also expects the bank to advance financial inclusion and financial literacy, along with digital inclusion and digital literacy, which it lists among its objectives for the people of Guyana.
The application platform is live at gdb.gov.gy and is only open to residents of Guyana.
— SS
Stephen Stanberry
