The Guyana Development Bank has attracted almost 15,000 applications for financing since opening on October 5, President Dr Irfaan Ali announced on Thursday evening.
Addressing the opening of GuyExpo 2026 at the National Exhibition Centre, Sophia, the President said the response reflects demand for funding as government seeks to help more Guyanese establish businesses and expand their sources of income.
The bank offers entrepreneurs and small and medium-sized enterprises loans of up to $3 million without interest or collateral. Applications and supporting documents are submitted through its online platform, gdb.gov.gy.
According to Ali, the assessment process is also being conducted digitally, and every applicant has received an email response.
“We are now assessing the credit scores and the evaluations digitally. We have responded by email to everyone of those applications, without the use of one paper because government is being built for the future,” he said.
Backed by US$100 million in seed capital from Budget 2026, the bank is intended to widen access to financing, with women, young people and persons with disabilities among its priority beneficiaries.
Support will extend beyond lending to include mentorship and technical assistance. The Small Business Bureau is expected to contribute mentors and business-development expertise.
Ali linked the initiative to a broader effort to help citizens earn through business ownership and investment alongside their salaries. He said government wants more Guyanese-owned enterprises creating jobs and developing the capacity to compete in regional and international markets.
The President also called for GuyExpo to serve as a link between businesses and opportunities for financing, partnerships and skills development.
