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Tourism

EGFL provides loan financing to help businesses operating within the tourism sector to enhance their product offerings to internationally competitive standards. EGFL provides financing at very attractive interest rates, and offers other concessionary loan terms and conditions.

Loan financing is available from BDS$100,000 to the higher of BDS$4.5 million or 15% of the total capitalisation of the Fund, at an interest rate of 6.5% per annum, calculated on a reducing balance basis. Loan terms can extend to fifteen (15) years.

  • Resources may be used to upgrade, refurbish or construct new plant and acquire equipment, for facilities in the
    accommodation sub-sector.
  • Loan proceeds may also be used to finance the upgrade, refurbishment or construction of new facilities involved in
    activities related to our natural and historical cultural heritage.
  • Refinancing of existing debt will be limited to no more than 25% of the loan proceeds. Resources may not be used to
    purchase land or finance real estate ventures
  • 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.

In order to qualify for this financing, an applicant must:

  • register with the Ministry of Tourism and BHTA;
  • submit a Business Plan

On receipt of the Business Plan, EGFL shall ensure that project proposal falls within the scope of the overall objectives of this financing and shall conduct due diligence with particular reference to the following:

  1. Project costs;
  2. Technical feasibility with reference to sectoral knowledge and skills;
  3. Management skills;
  4. Reputation of prospective client (s) in the market place;
  5. Credit worthiness of the prospective client(s) and the ability to service debt;
  6. Market analysis and prospects;
  7. Financial structure;
  8. Financial viability including profitability and balance sheet projections for five (5) years. For existing
    businesses, audited financial statements for the three (3) years preceding the date of the application must be
    provided;
  9. Foreign exchange generation capacity;
  10. Sensitivity and risk management analysis;
  11. Environmental impact.

SEE BUSINESS PLAN GUIDELINES HERE

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 shall prepare and present a Project Funding Memorandum for the review and approval of the Investment Committee. Prior to disbursement, the applicant should show evidence of compliance with BRA and NIS, if applicable.

  • Financing for tourism started in 2001 and provides funding to the accommodation sub-sector, the attractions
    sub-sector and facilities providing an ancillary service focusing on the tourism sector. Funding can be provided to
    accommodation properties of 200 rooms or less.
  • Funding for the tourism sector was capitalised by transferring $30.0 million from the Industrial Credit Fund.
  • $71.84 million has been approved from inception to December 31, 2023.
  • $55.41 million in loans has been disbursed to December 31, 2023.
  • Funding is provided at the variable rate of 6.5% per annum, up to $4.5 million.

Tourism Loan Calculator

*This is for illustrative purposes only.

$100000 $4500000
1 year15 years
Your repayments are every month at
Total you will Pay:
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