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Guarantee of Loans (Small Businesses) Act, 1998 (Cap. 345).

Country/Territory
Bahamas
Document type
Legislation
Date
1998
Source
FAO, FAOLEX
Long title
An Act to provide for the guarantee by the Government of the Commonwealth of The Bahamas of loans by financial institutions to small business and for purposes connected thereto.
Subject
Agricultural & rural development
Keyword
Agricultural development Credit Special fund
Geographical area
Americas, Caribbean, Latin America and the Caribbean, North Atlantic, Small Island Developing States
Abstract

This Act grants power to the Government to provide guarantee to approved lenders for loans extended to small businesses and in particular to enterprises in the fisheries, forestry, horticulture and livestock sector. Lending institutions shall be approved by the Minister under this Act and such approved lender shall apply for a guarantee with the Minister in the prescribed form. The Act sets out duties and rights of a lender and conditions of a guaranteed loan. The Minister shall establish a Loan Guarantee Fund for purposes of this Act.

Full text
English
Website
laws.bahamas.gov.bs