The Development Finance Corporation (DFC) has been operating in Belize since 1963. With 50 years as a financial institution, and once owned by the private sector, DFC is now a government of Belize entity. Over the years DFC has been helping Belizeans toachieve personal milestones and develop businesses through their financial aid services.On Thursday March 27th, DFC held a business mixer at Hidden Treasure Restaurant in San Pedro Town. The mixer was the first of its kind for Ambergris Caye and saw a sufficient turn out from members of the small business community who came to be informed on the different finance plans and loan options DFC offers.
DFC may be known to many simply for their housing and education loans however it’s much more than that. Today DFC offers seven types of loan plans to the Belizean community: agriculture loans, industry loans, tourism loans, micro and small enterprise loans, eco-friendly loans that target businesses geared towards environmental conservation, farming, eco-tourism etc, housing loans and education loans.
Since San Pedro is Belize’s tourism Mecca, there is a demand for various businesses to accommodate our seasonal visitors. DFC aims to help San Pedro’s productive sector to establish or further develop their business. Entrepreneurs, small business owners and other small traders such as local artisans andvendors are considered ideal partners for DFC. While conventional banking institutions tend to turn away small business prospects that may lack proper collateral and other requirements, the DFC works to tailor a loan plan to fit individual business or business concepts.
Fredrick McGlore of DFC was the presenter for the night and gave a concise presentation on all that DFC offers, primarily focusing on plans that can benefit the island’s business owners. For the productive sector, the DFC aims to invest in the following: construction of buildings, the purchase of furnishings and fixtures, purchasing of machinery, equipment and vehicles, the upgrade of existing facilities, alternative and renewable energy plans (solar/wind), working capital (as part of a wider plan), refinancing (as part of a wider plan), feasibility/ market studies, and Retool (Retrain workforce).
Since DFC aims to develop Belize, its services are limited to a Belizean customer base, including Belizean born citizens, Belizean residents and Belizean registered corporate entities with Belizean majority share holdings. The DFC offers loans with flexible interest rates starting as low as 8%.
After the presentation, guests were invited to an open bar and buffet as the social mixer got underway. Loan officers fielded questions from the crowd and were readily available to address the various inquiries. Those wishing to speak with their local DFC representative may do so by calling 226-2144, or visiting their office on Barrier Reef Drive opposite Spindrift Hotel. For more information visit the DFC website at www.dfcbelize.org
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