Enterprise Assistance Fund (EAF)

Enterprise Assistance Fund (EAF) is sponsored by Business Development Unit – Tobago. Offers affordable financing and business support to entrepreneurs in Tobago to help launch, grow, or strengthen their small businesses.

FAQs – Business Development Unit Business Development Unit - FAQs Have questions about our services, programs, or how we can support your business? Our FAQ section provides quick answers to the most common inquiries about the Business Development Unit (BDU), including funding options, training opportunities, application processes, and more. What is the Enterprise Assistance Fund (EAF)?

The EAF is a loan initiative by the Business Development Unit under the Division of Finance, Trade and the Economy designed to assist businesses in Tobago. Who can apply for an EAF loan? Be citizens of Trinidad and Tobago Reside in Tobago for at least three years Have a registered business (or official documentation for groups) Submit required financial and identification documents What is the interest rate?

A fixed interest rate of 5% per year using the straight-line method. What is the loan repayment period? Up to 5 years for larger loans Up to 2 years for loans under $30,000 Duration depends on the loan amount, project nature, and repayment ability.

Legal Fees : Client is responsible for all legal fees related to searches, registrations, mortgages, etc. What documents do I need to apply? Proof of age, citizenship, and Tobago residency Registered business certificate Business plan (required for loans $50,000+) Financial records or projections References (2 character, 2 business) Proof of collateral and lease/ownership documents What types of collateral are accepted?

Life insurance policies (with CSV) Equipment (under 3 years) Guarantors with proper documentation What is the application process like? First Visit – Get information and checklist Second Visit – Submit documents and application Third Visit – Meet with Loans Officer Interview – With Fund Management Committee Loans ≤ $50,000: Reviewed by Secretary Loans > $50,000: Sent to Executive Council Who can I contact for more information?

Business Development Unit 📞 639-4412 Ext. 53201–53215 📍Victor E Bruce Financial Complex, 2nd Floor, 6–10 Post Office Street, Scarborough, Tobago The EAGP is a financial grant initiative designed to support small businesses and entrepreneurs operating in Tobago, offered by the Business Development Unit under the Division of Finance, Trade and the Economy. Who is eligible to apply?

Be citizens of Trinidad and Tobago Reside in Tobago for at least 3 consecutive years Physically operate their business from/in Tobago Be registered (e.g., fisherman, wireman, etc., where applicable) What documents are required to apply?

Two valid forms of national ID (Passport, Driver’s Permit, National ID) Utility bill showing a Tobago address Police Certificate of Character (not older than 3 months) Four reference letters (2 business, 2 character) Public Health Clearance (if required) Bookkeeping records for existing businesses (min.

6 months) Proforma invoices/quotes from three different suppliers Cash flow projections (for new businesses – 2 years) Boat Registration (if applicable) been the industry standard dummy Are there any training requirements? Yes. Applicants must agree to participate in mandatory training in areas such as: Any other courses recommended by the Business Development Unit Do I need to submit original documents?

Yes, applicants must provide all original documents as requested during the application process. What are the Terms and Conditions of the EAGP? All applicants must agree to the specific terms and conditions set by the EAGP.

These are usually explained during orientation or consultation sessions. How can I get more information or apply? Business Development Unit 📞 639-4412 Ext.

53201–53215 📍Victor E Bruce Financial Complex, 2nd Floor, 6–10 Post Office Street, Scarborough, Tobago 1-868-639-4412 ext 53201-15