The Cherry Tree Trust Inc., a registered not for profit charitable Barbados company., is pleased to announce that, subsequent to its official launch on 27 February 2012, it has made its first loan to a Barbadian entrepreneur.
Mr Lionel Dawson, the successful applicant, is the Managing Director of BizOffice Systems Solutions Inc., which provides office supplies and equipment solutions to businesses. Mr Dawson has a over 20 years’ experience in the business stationery and technology supply and general client service industries.
As an integral part of the Cherry Tree Trust’s product offering to its clients, Mr Dawson has been assigned a business mentor of the highest caliber. Mr Carl Lewis is the Director, Corporate Credit Products, of CIBC FirstCaribbean International Bank. Mr Lewis will mentor Mr Dawson, and, utilising his wealth of business experience, provide practical guidance to Mr Dawson’s business venture as appropriate.
The vision of The Cherry Tree Trust is to foster economic and social growth in Barbados by enabling entrepreneurs to either commence business or further develop, by providing loan finance to small businesses in situations where banks and other traditional financial institutions are not willing to lend. The Cherry Tree Trust complements the work of established financial institutions by meeting the lending needs of the small business that would typically fall short of their criteria.
Target customers are small businesses with less than ten employees and turnover of less than $500,000 per annum.
The Cherry Tree Trust will lend up to $25,000 to an existing business and up to $15,000 to a startup. Loans are for a term of up to 5 years, are unsecured, with interest at 5% fixed.
The website at www.thecherrytreetrust.com provides comprehensive information of the Company’s management, vision, value proposition and product offering, inclusive of application form and details of the application process and contact details.
The management of The Cherry Tree Trust feels privileged to be part of the growing available resources developing Barbadian entrepreneurs, and, in so doing, hopes to be an integral part of the transformation of Barbados’ economic structure. Prospective applicants and other Interested parties are invited to review the website and contact the Company’s management for further information.