KINGSTON, Jamaica — Thousands of Jamaican entrepreneurs and employees operating side businesses could soon benefit from a $1 billion fund launched by First Union Financial Company Limited.

The Employees’ Side-Hustle and Entrepreneur Micro Loan Revolving Fund Programme is designed to provide accessible financing to Jamaicans seeking to start, expand or strengthen income-generating ventures while creating greater opportunities for financial independence, business ownership and long-term economic growth, the company said in a release.

According to Group General Manager, Jonalisa Brooks, the programme was developed in direct response to the growing number of Jamaicans seeking additional income streams and entrepreneurial opportunities.