By NAN Business Writer
News Americas, NEW YORK, NY, Fri. October 30, 2015: While the number of Caribbean immigrant-owned small to medium sized businesses in the United States and Canada continues to increase, access to capital remains an obstacle to growth.
High growth requires access to capital for any company, whether in the Caribbean/Latin America US Diaspora or Canada. With many West Indians and Latinos going the self-employed route, the need for funding access is growing.
Now true to its goal of wealth building for the region and its Diasporas, Invest Caribbean Now, the global private sector Caribbean investment agency, has teamed with several US-based organizations to expand capital access to small to medium Caribbean and Hispanic-owned enterprises in the US and Canadians Diaspora.
ICN says it has partnered with two top organizations to offer cash advances to existing micro-enterprises as well as low interest loans and lines of credit of between US$5,000 to $250,000 to small to medium-sized businesses which have been in operation for a year.
“We are thrilled to fulfill phase one of our 2014 goal of helping to provide access to capital for existing Caribbean and Hispanic-owned Diaspora Enterprises,” said ICN founder Felicia J. Persaud. “Partnerships are key to our success and we continue to build this with this new service. Now it gives me hope that one day we will also be able to do this for SME’s across the Caribbean region.”
The next phase is critical, said Persaud, since according to a recent World Bank report, “the Caribbean is a region of entrepreneurs, with nearly 70% of the workforce self-employed.”
Invest Caribbean Now (ICN) is the definitive private sector investment agency of the Caribbean. It is based in America’s financial capital of the world, New York City. Now in its fifth year, ICN is the brainchild of Caribbean-born media entrepreneur, Felicia J. Persaud and is owned by Hard Beat Communications, Inc.
Invest Caribbean Now promotes and pushes for the right investment opportunities in the Caribbean region; offers a concierge service for high end investors seeking to make the right connection with key opportunities, governments and other parties in any Caribbean destination and connects small entrepreneurs in the Diaspora with SME loans and cash advances.