Component 3.2: Support to Formal Employment Programmes

Component Objective

To provide support to incentivize new hires, promote new startups, and expand existing businesses.

Support to Formal Employment Programmes Criteria- Grant Support

Criteria:

                  (i)        Must be a registered business

                (ii)        Registration with IRD where applicable

               (iii)        Obtain a Tax Compliance Certificate where applicable

             (iv)        Registration and compliant with all NIS regulations

               (v)        Obtained a loan after June 2021 under the Small Business Development Fund or the COVID-19 Support Fund Facility administered by the Grenada Development Bank up to a maximum of $40,000.

             (vi)        Businesses with full moratorium on principal and interest will not qualify

           (vii)        For new businesses loans must be in good standing for at least six months