Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697645844586.pdf (Bahamas)
THE BAHAMAS POST HURRICANE DORIAN RECONSTRUCTION ECONOMY MINISTRY OF FINANCE Small Business Development Centre MSMEs Grant, Equity Financing Program & Loan Guarantee Program, Abaco and Grand Bahama 1.

BACKGROUND The backbone of any economy is the existence of small & medium sized enterprises.

This is especially true of the islands that were impacted by Hurricane Dorian, which have suffered an estimated $1.02 billion1 dollar loss as a result of the damage left by this unprecedented storm.
As a result, The Government of The Bahamas has allotted $10 million to support approximately 3,500 micro, small and medium sized enterprises (MSMEs) in both Grand Bahama & Abaco who were potentially impacted by Hurricane Dorian.

The Small Business Development Center (SBDC) has been designated as the custodian of this fund, will be responsible for managing the three-year $10 million dollar loan guarantee, grants and equity financing program.
The SBDC defines MSMEs as companies earning less than $5 million in revenue and employing less than 50 employees.

The table below represents the vibrancy of these island-economies prior to Hurricane Doriane.

Source: Department of Inland Revenue 2019 Fillings Since launching the funding programme, we have received 160 completed applications from MSMEs seeking to rebuild.

On average, 10 new applications are started daily.


These initial applicants represent only 5% of the total MSMEs for these islands and 12% of the total employees - yet their estimated losses represent 87% of the allocated funding.
1 Calculations based on DaLA collectively prepared by ECLAC & IDB 1 IslandRevenueEmployees# of MSMEsAbaco316,144,920 2,365 1,732 Grand Bahama94,981,570 2,128 1,814 Total411,126,490 4,493 3,546 2018 THE BAHAMAS POST HURRICANE DORIAN RECONSTRUCTION Source: SBDC Hurricane Recovery Funding Programme Database To date, 36 companies have received $647 thousand in funding.

This subset of clients has requested $2.17 million in assistance.
The expected economic impact from these 36 companies after their first year of recovery is $6.7 million equating to a potential return on investment of $3 to $1.

135 jobs will be retained and 3 created.

2.

VISION  MSMEs are operating and thriving in an economy supported by locals and tourists  MSMEs retain local jobs and are actively engaged in clean up and recovery efforts  Productive sectors including tourism, fisheries, and agriculture are fully restored 3.
PROJECT DETAILS Based on business community surveys and on the ground assessments, the SBDC estimates that 75% of the MSMEs in Abaco have been impacted and 60% in Grand Bahama.

Taking into account these estimates and the average funding approvals to date ($18,000), the recovery costs for small businesses may reach some $43 million.

Some of these businesses are insured.

Others have direct access to private sector capital.
The Government has stepped in to provide $10 million in financial assistance for that segment that may not ordinarily be able to access private sector capital on their own.
Total Project Estimates: US$43 Million 2 # of Employees (pre-disaster)Funding Amount Requested# of ApplicationsSum of Estimated Loss# of Employees (pre-disaster)Funding Amount Requested# of ApplicationsSum of Estimated LossCommunications9250,000 1477,078 60,000 1100,000 Construction94717,555 111,052,000 17120,554 473,000 Farming676,000 210,000 8349,999 3230,150 fisheries350,000 164,000 28434,500 4266,500 Food And Beverage26446,000 6479,000 47331,704 13265,824 Landscaping and Maintainance890,000 431,000 13157,432 511,870 Personal Services10360,000 3335,000 30174,912 6105,151 Retail24695,000 131,385,300 34361,966 20605,949 Services531,244,300 161,516,693 66668,068 17429,200 Other986,500 8201,500 24182,196 7156,592 Transport and Logistics7723,500 6283,000 54968,995 9572,000 Total2494,738,855 715,834,571 3213,810,326 892,816,237 Total for Both Islands5708,549,181 1608,650,808 AbacoGrand BahamaIndustries