SBAJ calls for relief for small businesses hit by Hurricane Melissa

 

The Small Business Association of Jamaica (SBAJ) is calling for an urgent meeting with the Jamaica Bankers Association to discuss measures to support small businesses struggling in the aftermath of Hurricane Melissa. 

 

Denise Williams, the Association's Second Vice President, is urging members to document and photograph the damage to their properties and present the evidence to their banks when seeking assistance. 

 

She noted that many small business operators will see their credit ratings deteriorate as the hurricane's impact has affected their ability to service existing loans. 

 

Meanwhile, SBAJ President Garnet Reid has called for a six-month freeze on debt service payments to financial institutions, a rollback of the recent ATM fee increases, a temporary reduction in import duties on agricultural produce, and a rebate from the Jamaica Public Service for MSMEs that suffered power outages during the storm. 

 

Mr. Reid said these measures would provide much needed relief to help small businesses recover and rebuild.