Guyana's small and medium-sized enterprises are about to receive a transformative boost. The government is establishing the Guyana Development Bank (also referred to as the SME Development Bank in Budget 2026 §4.87), a new financial institution. Budget 2026 §6.10 allocates an initial US$100 million — the first tranche of a planned minimum US$200 million capitalisation — for 2026 to capitalise the bank. It is specifically designed to provide affordable, accessible financing to entrepreneurs across the country. For the first time, Guyanese business owners will be able to access zero-interest, zero-collateral loans of up to GYD $3 million — and potentially up to GYD $10 million through co-financing with commercial banks.
This guide covers everything announced so far about the Development Bank: who qualifies, how much you can borrow, which sectors are prioritised, and how to prepare your business to apply when the bank becomes operational.
Latest Update — June 2026
President Irfaan Ali announced in late May 2026 that the Development Bank legislation is expected to be laid before the National Assembly when it reconvenes on June 5, 2026. The President said all major preparatory and technical arrangements are complete, and that the bank's first loan disbursements will follow shortly after the legislation is passed.
This guide is reviewed monthly — check back after the June 5 sitting for the latest on when applications open.
On this page
- What Is the Guyana Development Bank?
- Loan Offerings
- Priority Groups
- Hinterland & Amerindian Community Access
- Target Sectors
- Beyond Loans: Training & Mentorship
- How to Prepare: Getting Ready to Apply
- Timeline & Legislative Progress
- Connection to Existing Business Services
- Budget 2026 Business Incentives
- Frequently Asked Questions
- Useful Contacts
- Sources & References
Quick Links
- mintic.gov.gy — Ministry of Tourism, Industry & Commerce Oversees SME development policy and the Development Bank initiative. +592-226-2505
- guyanainvest.gov.gy — GO-Invest Investment facilitation, business support, and sector guidance for entrepreneurs. +592-225-0658
- dcraguyana.com — DCRA (Business Registration) Register your business before applying for Development Bank financing. +592-225-4358
- gra.gov.gy — Guyana Revenue Authority (TIN) Obtain your Tax Identification Number, required for loan applications. +592-227-6060
Status Update (as of June 2026)
The Guyana Development Bank is not yet operational, but it is close. As of early June 2026, the enabling legislation is expected to be laid before the National Assembly when it reconvenes on June 5, 2026, and the government says preparatory and technical arrangements are complete. Budget 2026 set aside an initial US$100 million as the first tranche of a planned minimum US$200 million capitalisation. No application forms or office locations have been published yet — these will be announced once the bank opens. This guide is reviewed monthly and will be updated as soon as the law passes.
Funding Available Now
While the Development Bank is being established, small businesses can access funding through the Small Business Bureau (SBB):
- Business grants and Green Tech Fund grants — specific amounts vary by programme
- Business training and mentorship programmes
Verify current grant tiers and eligibility directly with the Small Business Bureau before applying.
Contact the SBB through the Ministry of Tourism, Industry and Commerce or visit the Business Registration Guide for details.
What Is the Guyana Development Bank?
The Guyana Development Bank is a new government-backed financial institution announced as part of the PPP/C Administration's 2025 Manifesto. Its primary mission is to bridge the financing gap that has historically prevented small businesses from accessing affordable capital in Guyana.
Unlike traditional commercial banks that require collateral, charge high interest rates, and often reject SME applications, the Development Bank is purpose-built to support entrepreneurs -- particularly those who have been underserved by the existing financial system.
Key Difference from Commercial Banks
Commercial banks in Guyana typically charge 8-14% interest on business loans and require significant collateral (often property or fixed assets). The Development Bank eliminates both barriers for loans up to GYD $3 million, and (per Budget 2026 §6.11) government will extend to commercial banks “similar fiscal concessions as are granted for low-income housing” to enable preferential interest rates on the co-financed portion.
Loan Offerings
The Development Bank offers a two-tier financing structure designed to meet different levels of business need:
Tier 1: Direct Bank Loans
- Interest rate: 0% (zero)
- Collateral: None required
- Source: Directly from the Development Bank
- Ideal for: Micro and small enterprises, startups, first-time borrowers
Tier 2: Co-Financed Loans
- Interest rate: Preferential — commercial banks are to lend to SMEs at below 4%, with reduced collateral (Budget 2026 §6.11; figure attributed to Min. Zulfikar Ally, May 2026 — confirm the exact offer with each participating bank)
- Collateral: Reduced requirements
- Source: Through commercial bank partners
- Ideal for: Growing businesses needing larger capital
Combined Maximum: Up to GYD $10 Million
Eligible SMEs can access up to GYD $3 million interest-free directly from the Development Bank, plus up to GYD $7 million from commercial banks at preferential rates -- for a total potential financing package of GYD $10 million (~US$48,300).
Priority Groups
While all SMEs in Guyana will be eligible to apply, the Development Bank is specifically designed to prioritise groups that have traditionally faced the greatest barriers to financing:
Youth Entrepreneurs
Young Guyanese starting or expanding their first business will receive priority access to loans and mentorship support through the bank's training programmes.
Women-Owned Businesses
Women entrepreneurs will be prioritised to help close the gender financing gap and support female-led enterprises across all sectors.
Persons with Disabilities
Persons living with disabilities who wish to start or grow a business will have priority access to Development Bank financing and support services.
Hinterland & Amerindian Community Access
On June 1, 2026, during a Cabinet outreach to Karrau Village, Region Seven (Cuyuni-Mazaruni), President Dr. Irfaan Ali announced that residents of hinterland and Amerindian communities will get direct access to soft loans and business support through the Development Bank — a deliberate push to reach the interior, not just the coast. In his words, the bank will “allow us to target you directly, so that you can benefit from soft loans that will allow you to invest in your small businesses… that will allow you to come together in a consortium and do larger projects.”
Officials on the ground
The bank will deploy officials into communities to provide coaching, mentoring and financial-management training — so borrowers get the tools to build and sustain a business, not just the money.
Consortia & collective projects
Residents are encouraged to form consortia and pool resources to take on larger projects together — a community-driven model rather than individual micro-loans alone.
Reach beyond the coast
Delivery to remote areas is planned through agent-banking networks plus digital banking and mobile wallets. The bank is framed as a “stepping stone into the formal banking system,” not an ordinary microfinance lender.
Source: President Irfaan Ali, June 1, 2026 (Karrau Village, Region 7), via Guyana Times & Guyana Chronicle.
Target Sectors
The Development Bank places heavy emphasis on sectors that contribute to Guyana's economic diversification and value creation. While the bank will serve SMEs across all industries, the following sectors are specifically highlighted:
Agriculture & Agro-Processing
Farming, food processing, rice, sugar, livestock, aquaculture, and agricultural technology
Tourism & Hospitality
Hotels, eco-lodges, tour operators, restaurants, and tourism-related services
Services
Professional services, technology, logistics, maintenance, consulting, and trade
Creative Industries
Arts, music, film, fashion, crafts, digital media, and cultural enterprises
Innovation & Value Creation
The bank will also consider any activity linked to value creation and innovation. If your business idea adds value to Guyana's economy -- even if it doesn't fall neatly into the sectors above -- you may still qualify for financing.
Beyond Loans: Training & Mentorship
The Development Bank is more than just a lending institution. It will include built-in support services to help entrepreneurs succeed:
- Business proposal assistance: Bank staff will help entrepreneurs draft and refine their loan proposals and business plans
- Training programmes: Skills development and upskilling components so that beneficiaries can better manage and grow their businesses
- Mentorship: Access to mentoring from experienced business leaders and advisors
- Co-investment facilitation: The bank will facilitate connections with commercial banks for co-financed loans at preferential rates
How to Prepare: Getting Ready to Apply
While the bank has not yet announced specific application procedures, you can take several steps now to be ready when applications open:
What the government says you'll be assessed on
In May 2026, officials detailed the prerequisites borrowers will be evaluated against. Getting these in order now puts you ahead:
- A credit score / clean credit history
- GRA tax compliance — be up to date with the Guyana Revenue Authority
- NIS compliance — National Insurance Scheme contributions in good standing
- A digital ID card (preferred) or your existing national ID
- A detailed business plan
- Financial statements where applicable, and proof of address
The government has also said it will check an applicant's track record and ability to repay. Source: Ministry of Finance briefing via Demerara Waves, May 21, 2026.
Register Your Business
You will need a legally registered business entity. Register with the Deeds and Commercial Registries Authority (DCRA) as a sole proprietorship, partnership, or company.
See our Business Registration Guide for the complete step-by-step process.
Obtain Your TIN
Register for a Tax Identification Number (TIN) with the Guyana Revenue Authority (GRA). This is essential for any formal business transaction in Guyana.
See our TIN Guide for details on obtaining your Tax Identification Number.
Prepare a Business Plan
Even though the bank will assist with proposals, having a draft business plan ready will accelerate your application.
Gather Supporting Documents
Prepare the documents that are likely to be required when applications open:
Apply When the Bank Opens
Once the Development Bank is operational, submit your application along with your business plan and supporting documents. The bank will review your proposal and, if approved, disburse the loan funds.
Timeline & Legislative Progress
July 2025
Government announces plans to launch a zero-interest Development Bank to support small businesses.
October 2025
Vice President Jagdeo announces the bank will be operational in 2026 with capitalisation announced via the National Budget. (Verify capitalisation tranches with DPI / Ministry of Finance.)
November 2025
President Ali announces zero-interest, zero-collateral loans up to GYD $3M with an additional $7M available through commercial banks at preferential rates.
January 2026
Budget 2026 allocates initial US$100 million for the Development Bank. Priority groups confirmed: youth, women, and persons with disabilities.
February 2026
Attorney General's Chambers continuing to finalise the legislation. The Development Bank Fund Bill is among the bills slated for tabling in the National Assembly in 2026 (verify current status with parliament.gov.gy). Administrative, legal, and regulatory framework being crafted.
April 2026
Bank is still not operational. Legislation has not yet been passed. No official launch date announced.
May 2026
President Ali confirms all major preparatory and technical arrangements for the Development Bank are complete, and that the bank will begin disbursing loans shortly after the legislation is passed.
June 2026
The Development Bank legislation is expected to be laid before the National Assembly when it reconvenes on June 5, 2026. Once passed, the first loans can be released. (Verify the bill's progress at parliament.gov.gy.)
Connection to Existing Business Services
The Development Bank does not replace existing business registration requirements. It adds a new financing layer on top of Guyana's established business framework. Here is how the bank fits into the broader picture:
Budget 2026 Business Incentives
The Development Bank is part of a broader package of business-friendly measures announced in Budget 2026. Here are other incentives that may benefit your business:
Zero Corporate Tax
Agriculture, agro-processing, childcare, and elderly care businesses now pay zero corporate tax in Guyana.
Tax Holidays
Tax holidays available through GO-Invest for approved projects in priority sectors. Length and terms vary by project — verify current incentive package directly with GO-Invest.
Reduced VAT
Standard VAT rate of 14%. Businesses below GYD $15M annual turnover are exempt from mandatory VAT registration.
Preferential Commercial Rates
Per Budget 2026 §6.11, government will extend to participating commercial banks “similar fiscal concessions as are granted for low-income housing” to enable preferential rates for the SME co-financed portion. Reduced collateral requirements expected.
Ready to Start Your Business?
While the Development Bank prepares to open, get your business registered and ready to apply. Our step-by-step Business Registration Guide walks you through the entire process.
Business Registration GuideFrequently Asked Questions
What is the Guyana Development Bank?
The Guyana Development Bank (also called the SME Development Bank in Budget 2026 §4.87) is a new government-backed financial institution. Budget 2026 §6.10 allocates US$100 million for 2026 to capitalise the bank. It is specifically designed to provide zero-interest, zero-collateral loans to small and medium-sized enterprises (SMEs) in Guyana and is expected to become operational in 2026.
How much can I borrow from the Development Bank?
SMEs can access up to GYD $3 million (~US$14,500) in zero-interest, zero-collateral loans directly from the Development Bank. An additional GYD $7 million (~US$33,800) may be available through co-financing with commercial banks at preferential interest rates (Budget 2026 §6.11). The combined maximum is GYD $10 million (~US$48,300).
Do I need collateral for a Development Bank loan?
No. Loans up to GYD $3 million from the Development Bank require zero collateral. For the additional co-financed portion through commercial banks (up to GYD $7 million), reduced collateral requirements will apply compared to standard bank loans.
Who qualifies for Development Bank loans?
All small and medium-sized enterprises in Guyana can apply. Priority is given to youth entrepreneurs, women-owned businesses, and persons living with disabilities. Target sectors include agriculture, tourism, services, and creative industries, though businesses in any sector may qualify.
When will the Development Bank open?
As of June 2026 the bank is not yet operational, but the enabling legislation is expected to be laid before the National Assembly when it reconvenes on June 5, 2026. The government says preparatory work is complete and first loans will be released shortly after the law is passed. Budget 2026 set aside an initial US$100 million as the first tranche of a planned minimum US$200 million capitalisation. No exact opening date has been confirmed.
Do I need to register my business first before applying?
Yes. You will need a legally registered business to access Development Bank financing. Register with the Deeds and Commercial Registries Authority (DCRA) and obtain a Tax Identification Number (TIN) from the GRA before applying.
Can I use the loan for any business purpose?
The bank focuses on activities linked to value creation and innovation. While priority sectors include agriculture, tourism, services, and creative industries, any SME contributing to economic growth may qualify. Specific eligible use-of-funds criteria will be announced when the bank opens.
Will the bank help me write a business plan?
Yes. The Development Bank will include a training and upskilling component. Bank staff will help entrepreneurs draft proposals and business plans, and mentorship programmes will be available to help beneficiaries succeed.
What about commercial bank interest rates?
Per Budget 2026 §6.11, government will extend to participating commercial banks “similar fiscal concessions as are granted for low-income housing” to enable preferential rates and reduced collateral requirements for SME borrowers. This applies to the co-financed portion of loans above GYD $3 million. Verify current rate offers directly with each participating bank.
Can rice farmers or agricultural cooperatives apply?
Yes. Agriculture and agro-processing are priority sectors. Rice farmers and other agricultural producers have been specifically encouraged to form consortiums and tap into zero-interest loans through the Development Bank.
Can people in hinterland or Amerindian communities access the Development Bank?
Yes. On June 1, 2026, President Ali said hinterland and Amerindian residents will get direct access to soft loans, with officials deployed into communities for coaching, mentoring and financial-management training, plus support to form consortia for larger projects. Remote reach is planned through agent-banking networks, digital banking and mobile wallets.
What will I need to qualify for a loan?
The government has said applicants will be assessed on a credit score, GRA tax compliance, NIS compliance, a digital or national ID, a business plan, financial statements (where applicable) and proof of address — plus a check of your repayment track record. Exact requirements will be confirmed when applications open.
What interest rate applies to the co-financed portion?
The direct loan of up to GYD $3 million is 0% (interest-free). For the additional co-financed amount up to GYD $7 million, commercial banks are to lend to SMEs at below 4%. Confirm the exact rate with each participating bank once the scheme opens.
Which commercial banks will offer the co-financed loans?
The government has said “several local commercial banks” will participate, but no commercial bank has been officially named as a Development Bank co-financing partner as of June 2026. Be cautious of any list claiming specific banks — confirm with official announcements when the scheme launches.
Is there an application website or office yet?
Not yet — no Development Bank portal, office or hotline has been published. Until the bank opens, watch the Department of Public Information (dpi.gov.gy) for announcements. For SME financing available right now, see the Small Business Bureau (sbb.gov.gy).
Useful Contacts
Ministry of Tourism, Industry and Commerce
GO-Invest (Guyana Office for Investment)
Deeds and Commercial Registries Authority (DCRA)
Guyana Revenue Authority (GRA)
Official Campaign Flyer
The Ministry of Public Service (Government Efficiency & Implementation) released the official Guyana Development Bank awareness flyer below — “Your Opportunity Is Coming.” It summarises what will be offered, who can apply, what you need, and how to get ready.
Sources & References
The figures and announcements on this page are drawn from official Government of Guyana statements and Guyanese news reporting (2026):
- Department of Public Information — “Government's US$200M Development Bank set to transform access to financing by 2026” — capitalisation (US$200M target / US$100M Budget 2026 seed).
- News Source Guyana — “Legislation to govern Guyana Development Bank to be laid at next sitting of the National Assembly” — the June 5, 2026 tabling.
- Kaieteur News, May 25, 2026 — “Small businesses to access up to $10M under new co-financing initiative” — the $3M + $7M ($10M) structure, the below-4% SME rate, and target sectors.
- Demerara Waves, May 21, 2026 — “Detailed conditions for borrowing from Development Bank” — borrower prerequisites and the training & mentorship wrap-around.
- Guyana Times & Guyana Chronicle, June 1, 2026 — President Ali on hinterland & Amerindian community access (Karrau Village, Region 7) — direct soft loans, coaching, and the consortia model.
- Guyana Times — “SMEs to access $3M zero-interest loans without collateral” — agent-banking reach and the “stepping stone into formal banking” framing.
The Guyana Development Bank is not yet operational — every figure above is a pre-launch government announcement and may change once the legislation passes. Always confirm current terms with official sources.
Last updated: June 3, 2026. Primary sources used for this guide: Ministry of Tourism & Commerce · Go-Invest · Guyana Revenue Authority · Department of Public Information · News Room Guyana · iNews Guyana (June 2026 legislation updates). Information and fees may change — always verify current requirements with the issuing authority before acting. For general government services information, see our Government Services hub.