Small and medium-sized businesses across Guyana can now apply for interest-free loans of up to $3 million without providing collateral, following the launch of the Guyana Development Bank on Monday.
The Ministry of Finance announced that the bank began operations on October 5, 2026, offering financing to enterprises in all ten administrative regions.
The initiative fulfils a commitment in the People’s Progressive Party/Civic’s 2025 manifesto and is intended to help entrepreneurs establish or expand businesses with credible, viable plans.
Applications can be submitted through the bank’s online platform at gdb.gov.gy, where borrowers can upload supporting documents and manage their loans throughout the repayment period.
Two categories of financing are available. Quick Loans, for amounts below $300,000, will involve a simplified application process and fewer supporting documents. SME loans, ranging from $300,000 to $3 million, will require additional documentation.
According to the Ministry, the platform has been designed to keep both processes straightforward and accessible.
Once an application is approved, the funds will be deposited directly into the borrower’s bank account. Repayments will also be made through the banking and financial system.
Applicants who need assistance can use the platform to request an appointment for a face-to-face meeting with a bank officer.
The Ministry said the removal of interest charges and collateral requirements is expected to make financing more affordable and accessible, creating opportunities for businesses across a range of productive activities.
It also expects the bank to support financial and digital inclusion by helping entrepreneurs access formal financing and use online services to manage their borrowing.
