Republic Bank hosts MSME Empowerment Forum

Port of Spain, Trinidad, August 23, 2024: On August 22, 2024, over sixty (60) Micro Small and Medium Enterprises were hosted by Republic Bank at its first Micro, Small and Medium Enterprises (MSMEs) Empowerment Forum. The event, which was themed “Empower, Engage, and Sustain: Navigating Success in MSMEs”, aimed to build capacity in key areas of business development, raise awareness about the Bank’s products and services tailored for MSMEs and to encourage collaboration among participating entrepreneurs.

The Forum opened with engaging educational sessions on topics such as Mastering Your Finances for Growth; Boosting Your Brand Visibility; and Sustainability: Building a Future-Proof Business. Following this, participants were immersed in a highly interactive networking segment, allowing them to get to know more about each other’s businesses and to explore the possibility of developing new business partnerships for further growth, resilience and profitability.

Additionally, Tricia Bissoon-Pollard, Manager, Centre for Business Innovation at Republic Bank gave insight into financing options available to MSMEs for start up and expansion. She especially highlighted the Bank’s MSME Micro Loan which launched in July 2023. This loan provides special concessions for small businesses to access up to $100,000 in unsecured financing as well as a credit card with a limit up to US $2,500.00. She shared “We’re so delighted that our Republic Bank Micro loan seems to be game-changer for small businesses. To date, approximately 1300 MSMEs have benefited from this innovative lending product. These businesses are the heartbeat of our economy, creating jobs and delivering valuable products and services to our communities.”

Maltee Ali, agri-entrepreneur; Patricia John-Charles, founder of Poddies Cakes and Delights; and Tamila Rogers, proprietor of Jones Cones, all provided heartfelt testimony to the positive impact that the financing made available by Republic Bank has had on the operation, continuity and expansion of their businesses.

Through its commitment as a signatory to the United Nations Principles for Responsible Banking to support the achievement of the Sustainable Development Goals, the Bank is socially invested in the development of the business community. Marketing Manager – SME/Business Segments, Michelle Johnson explained that “Beyond access to financing, we’re also extremely passionate about supporting MSMEs in non-financial ways. We’re committed to ensuring that they are equipped to effectively own, leverage and grow their brand with sustainable strategies to thrive in the long term.”

Republic Bank will continue to host initiatives like the MSME Empowerment Forum to provide financial guidance and non-financial support to the MSME customers through business coaching and other ancillary services. In summing up this enhanced MSME focus, Tricia Bissoon-Pollard, noted the Bank’s new positioning by declaring "Republic Bank is the bank for all MSMEs."

To learn more about how Republic Bank supports the growth of small businesses, visit https://www.republictt.com/commercial.