AI Platform Targets Guyanese Entrepreneurs Preparing for Development Bank Loans

A new artificial intelligence platform is being introduced to help Guyanese entrepreneurs prepare for financing under the newly established Guyana Development Bank, with its creators warning that some prospective borrowers could miss the opportunity simply because they are not prepared to meet lending requirements.

The initiative, Guyana Business Loan Ready, was launched by AI for Guyana to help entrepreneurs organise their documentation, develop business plans and prepare financial information ahead of applications to the Development Bank.

According to information provided by the initiative, qualifying entrepreneurs will be able to access loans of up to GYD $3 million at zero per cent interest without collateral. The Development Bank is intended to broaden access to financing for small entrepreneurs, farmers, young people, women, persons with disabilities and others who may have viable businesses but lack the property or other assets traditionally required by commercial lenders.