D.B.S EVALUATES 20 APPLICATIONS FOR $100K LOAN OFFER
Photo: DBS
The Development Bank of Samoa (D.B.S) are now evaluating 20 proposals by business owners that applied to a loan offer totalled at SAT $100,000 to revive and support their businesses that were running during the COVID-29 period.
The applications which closed on Friday last week following criterias and guidelines the applicants needed to follow were posted by D.B.S on their Social platforms. Some of the requirements for eligibility were to state how the pandemic affected the business , if they were currently operating during COVID and if the business were employing 10 full time workers during that period.
The offer is only available to business owners that are of Samoan nationalities and the D.B.S Institute is looking to see if the eligible applicant is looking to fully revive its business , evidence is compulsory on this requirement according to reports by the Development Bank of Samoa.
In a phone interview with a representative of the D.B.S , they stated that applications closed on Friday and the institute is now looking to overlook the applications that were handed in.
"Yes we closed all applications on Friday , now we are evaluating whether the business owners have met the requirements that makes them eligible to the loan offer" they said.
"Applications our office have received so far were both from business owners in Upolu and Savaii,"stated EyeSpy's informant.
The Development Bank of Samoa received a $1 million remuneration from the Government annual budget for the year 2022/2023 according to the annual reports.