Enterprise Support Project

Approval date
April 04, 2019
Effectiveness Date
May 20, 2020
First Disbursement Date
May 27, 2020
Closing date
June 30, 2025
Burn rate


To support a large percentage of micro, small, and medium sized enterprises unable to obtain financing from local commercial banks due to an inability to meet collateral requirements, the Enterprise Support Project (US$35 million) supports eligible MSMEs with a combination of grants and loans for asset replacement, nonstructural repairs, and working capital, aimed primarily to the tourism sector. Non-tourism businesses include ventures in agro-processing, equipment supply, retail, business, or health services. As of September 2022, the project disbursed over US$13 million, about 38% of the total project amount.


Financial Summary:




The Enterprise Support Project has three main activities:

  • Loans and grants to MSMEs for working capital, asset repairs and resiliency investments:


    Eligible MSMEs receive tailored packages of grants and loans for asset purchase and/or repairs, as well as working capital loans if required. Only productive capital assets and nonstructural repairs are financed by the project.  

  • Project management, implementation & training:


    These funds are targeted at implementation support and project governance. Also, loan officers and other staff at financial institutions will be trained to improve their MSME lending skills and business continuity planning.

  • Analytical study on financial solutions to strengthen business disaster resilience:


    Financial instruments, markets, tools, and solutions available to improve disaster resilience in Sint Maarten are investigated. Such markets or instruments may include private insurance, public asset insurance, sovereign insurance markets, regulation, and appraisal standards.

The project regularly offers information sessions to MSMEs. Radio commercials have run frequently, and the project website has been updated.

A citizen engagement survey conducted at the end of 2021 showed a project satisfaction rate of over 90 percent. As of June 2022, out of a total of 340 applications, 140 were successfully approved and received approximately US$9.3 million. These include 44 new MSMEs (less than two years of operations).

Project Component Target Results
MSMEs received financing 600 140
Percentage of loan packages by volume that include grants    96%
Study undertaken for improving financial solutions for disasters     
Number of loan officers trained in MSME lending     
Number of enterprises and loan officers trained in business continuity planning (BCP)  200 16

The hurricane has significantly depressed economic activity. Losses over 2017 to 2019 (foregone production and decline in economic flows) were estimated at about 90 percent of GDP, mostly in the tourism sector. Many businesses have closed, and out-migration has increased. For surviving enterprises, there is a need to maintain workers and continue post-disaster recovery and resiliency investments in order to restore to pre-hurricane capital and labor levels and to support further enterprise growth and job creation.