The Small Business Support Fund

Supporting your business with a government-backed business loan administered by Development Bank of Seychelles and in collaboration with the Seychelles Chambers of Commerce & Industry


Small Business Support Fund – Key Features

The scheme helps small businesses registered in Seychelles and 100% owned by Seychellois, to borrow a maximum loan of SCR 100,000.

The government guarantees 100% of the loan-no security needed, and it is interest free with a 12 months’ moratorium and a maximum repayment period of 3 years, exclusive of the 12-month moratorium for the principal amount of the loan taken.

Eligibility
  • Annual turnover of less than SCR 2million on average for the past two years.
  • Registered Seychellois business engaged in trading or commercial activity;
  • Your business must have been established before 1 March 2020
  • Your business must be a going concern and neither in bankruptcy, liquidation or similar.
  • Have been adversely affected by COVID-19
The Eligible Financing Needs
  • Working Capital needs to the extent not covered under other measures announced by the Government for critical expenditures such as;
    • salaries,
    • utilities,
    • rent,
    • purchase of goods,
    • taxes,
    • redundancy costs and services contracts,
  • Costs attributable to improve competitiveness and productivity through means such as digitalizing of business process;
  • Cost in adapting to safe management practices with reference to Public Health guidelines transformation efforts to adapt to the current business environment and in preparation for the economic recovery.
  • Costs associated with strategic capabilities that can contribute to our national priorities such as Food Security Agenda and Import Substitution Strategy.
Who Cannot Apply
  • Retail and wholesale license for imports not carried out in a commercial building
  • Successful applicants of CBS Private Sector Relief Loan Scheme
Other Key Points
  • There will be a one off administration fee of SCR 100.00 which will be deducted from the Loan amount if you are successful.
  • Your business tax returns must be up to date and submitted to the Seychelles Revenue Commission (SRC). If this has not been done, we encourage you to liase with SRC to seek permission for extension and settlement plan.
  • Applicants must be able to demonstrate that the business is viable and must have a plan to ensure it remains viable. This generally means the directors or owners have good reason to believe it is more likely than not the business or organization will be able to pay its debts as they fall due within the next 12 months.
  • You will need to produce a Cash Flow Forecast for the next 12 months from the date of submission.
  • Participants will have access to programs which includes financial literacy & education, capacity building in business affairs, business advice and support, employment matters. We encourage you to take part in these training programs.
  • The loan must be utilized to provide economic benefit to the business, and not for personal purposes.
  • The disbursement will be made payable in your bank accounts and you must be able to provide supporting documentation to support requested amount.
  • The borrower is responsible to repay 100% of the loan amount. When defaults occur, Development Bank (DBS) are obligated to follow their standard commercial recovery procedure. A penalty interest will be applied to defaulters.
  • Failure to repay loan amount will result in impact of your credit information and potential legal proceeding.
  • Applications from eligible borrowers will be subject to Anti-Money Laundering (AML) and Know Your Customer (KYC) checks.
  • Businesses are entitled to apply for one loan facility per separate business.

Small Business Support Fund (SBSF) Loan Calculator

Below is a simple calculator that will show you how much the loan will cost you in terms of repayment after the 12 months moratorium

Loan Amount
Amount you are requesting for
 SCR
Repayment Period
Maximum repayment period is 3 years = 36 months AFTER the 12 months moratorium
 Months (eg. 2 year = 24 months)
Repayment Installment per month
Repayment starts after moratorium of 12 months
 SCR
Apply for Small Business Support Fund

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