For the purposes of this programme, the definition of micro business will be that contained in the Small Business Development Act of 2007.
A micro business is an enterprise:
(a) that has no more than 10 employees;
(b) that is not a wholly- or majority-owned business or subsidiary of a larger company;
(c) for which total annual sales do not exceed $300,000; and
(d) that is majority owned and operated by citizens of Antigua and Barbuda.
Micro businesses will be able to access loans up to $25,000.00
Other Terms & Conditions
Applicants may be required to execute security documents and/or provide a personal guarantee.
Generally, a business must be in operation for less than five (5) years to be able to access funding from the EDP. Exceptions may be made where a business operating for more than 5 years is seeking funding to significantly expand operations and will create additional employment.