The Tribune

A joint initiative to provide grant funding to Grand Bahama-based businesses struggling to rebuild from Hurricane Dorian plans to disburse a further $725,000 among 76 selected companies.

The Restoring Industry, Sustaining Employment (RISE) grant programme, which is a collaboration between the Grand Bahama Port Authority (GBPA) and Mercy Corps, a global humanitarian organisation with funding support from the American Red Cross and Bacardi Ltd, has been awarding grants of up to $10,000 to qualifying businesses.

Despite the recent COVID-19 Emergency Orders, the venture has provided economic recovery grants to around 140 businesses.

Henry St George, a GBPA director, said: "The RISE team has had to adapt its programme significantly in order to comply with the government's COVID-19 Emergency Orders, but we have been able to continue to vet and review applications. Given the lockdown made sourcing goods and labour for the repair of businesses a challenge, the disbursements of new grants have been on hold up until now.

"We are delighted to be able to restart the grant award process with the selection of a further 76 businesses in our latest cohort, who collectively are due to receive approximately $725,000. We are extremely proud of this accomplishment and look forward to continuing to help re-establish the island's small business sector."

"With another hurricane season looming, it is essential we move forward with business recovery efforts despite challenges created in the midst of COVID-19," said Paula Miller, Mercy Corps country director for The Bahamas. "We know that these small and medium-sized businesses are the backbone of the island's economy, and the support we provide them now is critical to their ability to prepare for and withstand future disasters."

Grant recipient Allison McBride, a business owner in the downtown Freeport area, who suffered nearly four feet of floodwater in her store, voiced her appreciation for the grant. "After Hurricane Dorian, our home, cars and business were devastated. We were encouraged to apply to many business entities for assistance," she added.

"Thankfully, the RISE team awarded us a much-needed grant that would assist with the purchase of machines, inventory and payment towards the arrears on our rent. Dynasti Graphix and the Copy Centre Team would like to express our thanks and appreciation to all of the RISE partners for their support. May God's blessings continue to flow through your endeavours."

Through the RISE programme, recipient businesses received finance, marketing and disaster preparedness and recovery training. The programme also offered guidance on the development of mitigation strategies to reduce the impact of future disasters.

Further updates on the RISE initiative will be forthcoming, covering new application deadlines and additional COVID-19 assistance. Businesses interested in applying for a RISE grant should visit the website at www.risegbpa.com for more information.