LICU-Empowerment Fund – Making Belize a better place!
This is a brand new project recently signed between LICU and Belize Natural Energy Charitable Trust (BNECT) in April 2013. The purpose of this fund is to finance viable business ideas that contribute to better communities in Belize and the environment. Other value added features of this fund are: the social and financial inclusion and empowerment of women and youth; employment and income generation; health and safety; and, social re-integration. Through this agreement, BNECT will make available the sum of BZ $750,000.00 through a Share Investment agreement which LICU will manage and on-lend according to agreed guidelines for the fund. The target group for this fund is any Belizean who has or mat have a potential high impact, viable business concept or venture in progress and qualifies for financing. Eligible sectors are those that include financial literacy and inclusion, sustainable tourism, indigenous arts and culture, non-timber extracting activities, solid waste management and recycling, appropriate technologies, alternative energy sources, entrepreneurship in women and youth, health and safety, and public participation and engagement through the social media. Eligible ventures can access funding up to a value of BZ 100,000.00 at a rate of 15 per month on the reducing balance, a maximum term of 10 years, and a grace period of one year on principal payments.