Search results for : loan
January 21, 2021
SBDC executive director: No guarantee some will not default on loans
Although more than $50 million in government funding has already been disbursed to small and medium-sized businesses since the start of the COVID-19 pandemic, Access Accelerator/Small Business Development Centre (SBDC) Executive Director Davinia Grant said yesterday she could not guarantee that some of those businesses will not default on their loans. Prime Minister Dr. Hubert ...
The post SBDC ex...
January 18, 2021
Venture fund chairman: 62 have stopped making loan payments
The Bahamas Entrepreneurial Venture Fund (BEVF) has found that 62 percent of its debt-financing portfolio decided in the midst of the pandemic to stop making loan payments, BEVF Chairman Michael Cunningham said Friday. Cunningham, who was a speaker at Friday's Bahamas Business Outlook, explained that while some companies have had to shutter in order to ...
The post Venture fund chairman: 62% have ...
November 24, 2020
BMC chair: Mortgage loans approval challenging as clients in debt
The Bahamas Mortgage Corporation (BMC) remains challenged to approve mortgage loans as it finds its clients to be heavily debt burdened, BMC Chairman Patrick Ward said yesterday, adding that in the absence of a formal credit agency, BMC does its best to ascertain the actual debt burden of people interested in acquiring money for a home. Ward, who was speaking ...
The post BMC chair: Mortgage loans...
September 22, 2020
Banker: Continued loan deferrals would be catastrophic for banks
While individual banks have developed their own policies regarding loan deferral assistance for borrowers still adversely impacted by the COVID-19 pandemic, President of the Clearing Banks Association Kenrick Brathwaite said continued deferrals into 2021 would be catastrophic for the banking sector. In March The Central Bank of The Bahamas mandated that lending institutions offer loan ...The post ...
Turnquest criticises 'misleading' reports on loans
October 14, 2020
Turnquest criticises 'misleading' reports on loans
FINANCE Minister Peter Turnquest yesterday criticised reports accusing the government of acquiring loans from banks caught up in controversy, insisting such claims are "very incorrect" and "misleading"...
'Horrendous' 188m bad business loans
November 16, 2010
'Horrendous' 188m bad business loans
By NEIL HARTNELL
Tribune Business Editor
SOME $188 million in loans to Bahamas-based businesses, representing 18.11 per cent of all bank credit to the private sector, were non-performing as at September 30, 2010, Tribune Business was told yesterday, one senior banking industry executive describing this as "horrendous" and reflective of how poorly many companies were performing due to the recessi...
August 19, 2020
Central Bank admonishes banks involuntarily using govt assistance for loan payments
In the wake of public outcry, the Central Bank of The Bahamas (CBOB) stated on Monday that it does not endorse the involuntary redirection of unemployment benefits or other government-funded assistance payments toward loan payments at lending institutions. The CBOB stated it has become aware of recipients of the government's various COVID-19 relief and assistance ...
November key to 1.135bn bad loan drop trend
December 08, 2010
November key to 1.135bn bad loan drop trend
By NEIL HARTNELL
Tribune Business Editor
A top Bahamian banking executive yesterday said a trend of improvement in the sector's non-accrual loan situation will be established if November produces the third consecutive month of decreases, the October figure having dropped by $18 million or 1.6 per cent to $1.135 billion. Yet he warned that it would take "two-three years" to reduce the "more than ...
Paul Moss: The Minister of Finance may be acting illegally by giving an interest free loan to civil servants...
January 15, 2012
Paul Moss: The Minister of Finance may be acting illegally by giving an interest free loan to civil servants...
January 11, 2012 Nassau,
Bahamas. "The Minister of Finance may be
acting illegally by giving an interest free loan to civil servants without
first getting the approval of Parliament" said Paul Moss the Independent
candidate for Garden Hills. He was speaking concerning the IPO in the Arawak
Cay Port Development and the Prime Minister's intending to give salary advances
to all public servants ...
June 30, 2020
Government approves conversion of Bahamas Development Bank bonds to loan with NIB
The government yesterday tabled a resolution for the conversion of $37 million in Bahamas Development Bank (BDB) bonds to a loan with the National Insurance Board (NIB)...
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