I applied for the Royal Caribbean Programme, when will I be notified regarding my application’s status?
The Royal Caribbean Programme Committee will meet to review applications mainly on the basis of business viability, management expertise and creditworthiness. The approval cycle is bi-monthly.
Businesses that are approved by the Committee will receive an official letter confirming the loan and grant amount approved and outlining special conditions that apply. Approved businesses will be given 5 days to accept in writing the offer letter. Any offers not accepted within 5 days will be rescinded.
Small businesses that are unsuccessful will also be notified in writing and invited to apply for training and funding under our flagship Access Accelerator programme.
What is the Royal Caribbean Programme?
The Access Accelerator has partnered with Royal Caribbean Group to provide funding and training opportunities for micro, small and medium-sized enterprises (MSMEs) in the tourism sector. This programme is open for entrepreneurs on New Providence, ...
Who is reviewing Royal Caribbean Programme applications?
Applications that pass the initial screening process will be forwarded to the Royal Caribbean Programme Committee ("Committee") comprising of representatives from Access Accelerator, Bahamas Agriculture and Industrial Corporation; Bahamas Chamber of ...
How much funding is available for the Royal Caribbean Programme?
Royal Caribbean Group established a $250,000 fund to be matched by the Government of The Bahamas through its matching grant programme. Access Accelerator will offer 3% interest loans with repayment term of 5 years to qualified applicants. The ...
What is the Funding Structure of the Royal Caribbean Programme?
Existing small businesses can apply for up to $15,000 in combined grants and loans based on their size and annual sales. The funding structure is 50% grant and 50% loan to be paid over a term of 5 years. The budget for this programme is $500,000 and ...
What are the eligible purchases for the Royal Caribbean Programme?
Under the Royal Caribbean Programme, applications will be approved to cover business costs related to: Inventory Supplies Packaging Uniforms Marketing (including branding and advertising) Public Liability Insurance Coverage Permits and Licenses ...