BRADES, MONTSERRAT — The Government of Montserrat, through the Ministry of Finance and Economic Management, is proud to announce that the Montserrat Business Progressive Fund (MBPF) Soft Loan Programme has approved its first wave of loans — a landmark achievement that represents a significant injection of concessional capital into the island’s agriculture, fisheries, and small business sectors.
In under 45 days from the programme’s official launch, the MBPF’s Soft Loan Committee (SLC) has reviewed and approved fourteen loan applications across multiple productive sectors of the Montserrat economy. This milestone marks the first time the island has offered a dedicated, government-backed, no-credit-check, low-interest lending facility specifically designed for the businesses that form the backbone of Montserrat’s economy.
“This is exactly the kind of transformational investment that Montserrat needs. The MBPF is not just a loan programme — it is a statement of confidence in our people, our entrepreneurs, and our island’s future. When we invest in our farmers, our fishers, and our small business owners, we invest in Montserrat itself. I am proud that this government has delivered a programme that is already making a tangible difference in the lives of our people, and I encourage every eligible Montserratian to come forward and take advantage of this opportunity.” — The Honourable Reuben T. Meade, Premier of Montserrat
About the Montserrat Business Progressive Fund
The MBPF Soft Loan Programme was established by the Government of Montserrat to provide accessible, affordable financing to entrepreneurs, farmers, fishers, and small business owners who have historically been underserved by traditional lending institutions. The programme is managed by Dr. Gary Morton and administered by the Ministry of Finance and Economic Management, with oversight from a dedicated Soft Loan Committee comprising representatives from government ministries and relevant sectors.
Key features of the programme include:
- Loans of up to EC$50,000 per applicant
- A concessional interest rate of just 2.5% per annum — significantly below commercial rates
- Repayment periods of up to 8 years
- No credit check requirement and no equity contribution required
- A total lending capital pool of EC$2,000,000, split equally between the Agriculture & Fisheries sector and the Micro & Small Business sector
- A rigorous but supportive application and field verification process, guided by a dedicated Programme Manager
Programme Dashboard — Key Statistics
Figure 1: MBPF Programme Dashboard — Applications by sector, fund utilisation, capital pool breakdown, and key programme metrics as of April 2026.
Programme Achievements at a Glance
Since its launch in early March 2026, the MBPF has demonstrated exceptional momentum:
- 14 loan applications received totalling EC$543,000 in requested capital — all within the programme’s first six weeks
- 13 applications approved and 1 rejected, spanning fisheries, agriculture, hospitality, construction, information technology, and the service sector
- 22 field verification visits conducted to assess the viability, assets, and readiness of applicants
- A streamlined disbursement process established with the Bank of Montserrat, with funds expected to be released to approved borrowers within days
- EC$1,457,000 in capital remaining available — meaning the programme is actively seeking new applicants from all eligible sectors
- A dedicated communications strategy already generating thousands of views and a measurable spike in community enquiries
These results speak to both the depth of unmet demand among Montserrat’s business community and the effectiveness of the programme’s design and delivery.
“These first approvals mark a major milestone for Montserrat. These loans are going directly into the hands of farmers, fishers, and entrepreneurs who will elevate their businesses while directly helping to grow our economy. We are proud of what has been achieved in such a short time, and we are committed to ensuring that every eligible Montserratian or Permanent Resident of Montserrat has access to the support they need to thrive.” — Dr. Gary Morton, Programme Manager, MBPF
Sectors Supported — Building a More Diverse Economy
The approved loans span a broad and strategically important cross-section of Montserrat’s productive economy:
Fisheries: The largest number of approved loans fall within the fisheries sector, reflecting both the sector’s economic importance and the depth of unmet need among Montserrat’s fishing community. Approved loans will fund the purchase of engines, fishing equipment, and vessels — directly expanding Montserrat’s local seafood production capacity, creating employment, and improving food security.
Agriculture / Farming: Approved agricultural loans will support productive farming activity, contributing to local food production and reducing the island’s dependence on imported produce.
Hospitality & Tourism: Investment in the hospitality sector supports Montserrat’s growing tourism economy and strengthens the local service offering for visitors and residents alike.
Construction & Trades: Approved loans in this sector will expand the capacity of skilled tradespeople to serve the local construction market — a sector in high demand given ongoing development activity across the island.
Information Technology & Technical Services: Investment in tech and IT services reflects the government’s commitment to positioning Montserrat as a modern, diversified economy. Approved loans in this area will expand local technical capacity, create employment, and meet rising community demand for skilled service professionals.
Consultancy & Professional Services: Loans supporting professional services businesses, including renewable energy and technical consultancy, signal a commitment to building Montserrat’s knowledge economy alongside its traditional productive sectors.
Economic Impact — What This Means for Montserrat
The MBPF represents far more than a lending facility. It is a catalyst for broad-based economic development on Montserrat — one that addresses structural gaps in capital access that have constrained business growth for generations.
The direct and indirect economic benefits of the programme’s first wave of approvals include:
- Increased local production — in fisheries, agriculture, and services — reducing import dependency and expanding the island’s economic output
- Job creation and retention across multiple sectors, both directly and indirectly through supply chain activity and increased consumer spending
- Improved household income for approved borrowers and their families, strengthening Montserrat’s consumer economy
- Capital investment in productive assets — engines, equipment, vehicles, and tools — that will generate returns and repayments for years to come
- Stronger formal business activity, as the programme encourages applicants to formalise their businesses and build financial track records
- A boost to government revenue over time as supported businesses grow, formalise, and contribute to Montserrat’s tax base
- Community confidence — a visible government commitment to economic empowerment that signals Montserrat is open for business
With EC$1,457,000 in capital still available and strong community interest continuing to build, the programme is well-positioned to deliver even greater impact in the months ahead.
“The breadth and quality of applications we have received reflects the entrepreneurial spirit that exists on this island. There are capable, ambitious people here who simply needed access to affordable capital. This programme is providing that — and the results are already clear.” — Mr. Jerson Badal, Chair, Soft Loan Committee
Capital Is Still Available — How to Apply
The MBPF Soft Loan Programme remains open for applications. Entrepreneurs, farmers, fishers, agro-processors, and small business owners across all sectors are encouraged to come forward.
Who is eligible?
- Montserratian citizens or permanent residents
- Businesses or individuals operating in agriculture, fisheries, agro-processing, or the micro and small business sectors
- Applicants with a viable business plan and a demonstrated ability to repay
- Social Security compliant and tax compliant applicants
The programme is particularly and actively seeking applications from:
- Fish cleaning, processing, and packaging businesses — a critical and currently missing link in Montserrat’s fisheries value chain
- Agro-processing — adding value to local agricultural produce
- Renewable energy services — including solar water heater installation and supply
- Any micro or small business with a sound plan and a genuine need for capital
To apply or to find out more, contact the MBPF Programme Manager:
Email: MBPF@gov.ms
The application form, programme guidelines, and full eligibility criteria are available on request.
About the Government of Montserrat
The Government of Montserrat is committed to building a vibrant, resilient, and diversified economy through strategic investment in its people, businesses, and productive sectors. The Ministry of Finance and Economic Management oversees a range of economic development initiatives, including the Montserrat Business Progressive Fund Soft Loan Programme.
For media enquiries, please contact: MBPF@gov.ms
MBPF Soft Loan Programme | Ministry of Finance and Economic Management | Government of Montserrat