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EGFL provides financing to growth-oriented manufacturing companies for retooling and working capital purposes. Funding is available to manufacturing concerns which demonstrate the potential to add significant value to the economy of Barbados by:

  • Being a net earner/saver of foreign exchange; and/or
  • Generating employment

Financing is available at very attractive interest rates, along with other concessionary loan terms and conditions. Loan funding is available from BDS$100,000 to the higher of BDS$2.0 million or 8% of available resources, at an interest rate of 5.5% per annum variable, calculated on a reducing balance basis. Loan terms can extend to fifteen (15) years. Loan proceeds may be used to:

  • Refurbish, rehabilitate, renovate and/or relocate a manufacturing enterprise.
  • Finance the construction/purchase of new plant and equipment.
  • Fund the complete rebuilding on the same site of an existing manufacturing enterprise.
  • Provide working capital for the procurement of inputs (raw materials inventory) to companies undergoing rapid growth
    via a revolving line of credit system.

Loan proceeds may not be used to purchase land, land and buildings or finance real estate ventures except where the buildings are to be used for productive purposes. In such cases only the costs of erecting or renovating the buildings will be financed.

Documentary evidence of approvals, permits and consents associated with the execution of the project must be presented to EGFL prior to disbursement of funds.

Security is required, usually in the form of a legal charge over the assets which have been acquired with the proceeds of the loan and any other collateral that may be deemed necessary.

To access financing, you should provide a business plan which clearly sets out:

  • An overview of the business.
  • Detailed information on the business’ financial structure and management team.
  • An assessment of the company’s ability to repay debt.
  • Current and or/most recent audited financial statements.
  • Marketing information including growth strategies for the next three to five years.
  • Financial projections supported by realistic assumptions demonstrating the project’s ability to be profitable.


A copy of the following corporate documents must also be provided:

  • Certificate of Incorporation
  • Notice of Address or Notice of Change of Address of the business’ registered office.
  • Notice of Directors or Notice of Change of Directors
  • Articles of Incorporation

On completion of the due diligence process, EGFL prepares and presents a Project Funding Memorandum for the review and approval of the Investment Committee. Prior to disbursement, the applicant must provide documentary evidence that they are up to date with respect to NIS payments, VAT, PAYE and other statutory obligations or that satisfactory arrangements have been made to clear any arrears.

Manufacturing Loan Calculator

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