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THE GREATER PORTLAND DEVELOPMENT FUND LIMITED
2 Harbour Street
Port Antonio
Portland

Lending to Micro businesses, for greater and better Portland
AIM: To provide development and advancement to the people of Portland via savings, timely access to micro credit, business counselling and training, more flexible collateral requirements, lower interest rates and easier payment terms than the traditional lending sector.

TARGET GROUP: Micro entrepreneurs (individuals, group or companies) with business assets $500,000 and under.

As a result of the need for financial empowerment of three Community Revolving Funds namely, Belle Castle CRF, Hectors River CRF and Port Antonio CRF with the facilitation of MIDA The Greater Portland Development Fund Ltd was created. On May 26,1994 the CDF was formally registered as a Provident Society and an Accredited Lending Agency of MIDA with initial share capital of ten thousand dollars ($10,000) and two hundred and fifteen (215) members.

During 1999 the Fund was restructured and its office relocated to Shop #4 West Palm Court since then operating with a complement of four staff members and under the direct management of MIDA. Share Capital now stands at $243,880 and an outstanding growth in membership totalling 602 individuals. Average loan disbursements have grown significantly from four hundred thousand dollars ($400,000) in 1999 to over one million dollars ($1,000,000) monthly as at December 31, 2001. In the year 2001 the fund was also accredited to the GOJ/EU Micro Enterprise Loan Programme consequently lending approximately 4.5 million dollars worth of loan under that programme for the year.Disbursements 2000-2001

Overall the CDF now has three million four hundred thousand dollars ($3.4million) on the GOJ/EU Portfolio and ten million dollars on the ordinary MIDA Portfolio a grand total of thirteen million four hundred thousand dollars (13.4million). It is our mission to generate more awareness of the programme through structured outreach to our target group thereby increasing the number of projects benefiting by 100% in the year 2002.
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