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Premier encourages use of loan and grant programmes

Premier Alden McLaughlin urged micro- and small-business owners to take advantage of government’s grant and loan programmes, as the response to the relief measures, announced by Commerce Minister Joey Hew in April, still remains below expectations.

RBC Royal Bank announces second phase of relief options

RBC Royal Bank is offering financial-relief options for its personal-banking clients impacted by the COVID-19 pandemic, with measures including payment deferrals on auto and instalment loans, as well as mortgages.

Development Bank to lend businesses up to $100,000

The Cayman Islands Development Bank is prepared to offer eligible businesses loans of up to $100,000 under relaxed terms and conditions during the current...

Grants for small businesses largely untapped

During the current economic crisis, many small businesses are leaving free government assistance money on the table. The Cayman Islands Centre for Business Development has so far only received 320 applications for grants that pay struggling businesses three monthly payments of $1,000 as working capital support.

Credit Union to extend loan-payment deferrals through July

The Cayman Islands Civil Service Association Co-operative Credit Union board has approved the extension of loan-payment deferrals from May to July, for members in...

Bank borrowing rates to increase

At least one local bank will increase prime rates for residential mortgages starting Friday in response to the U.S. Federal Reserve announcement Wednesday that it would increase a key interest rate.

Cayman Development Bank turns around financial results

The Cayman Islands Development Bank has posted a net profit of about $53,000 in its 10-month interim results compared to a loss of nearly $670,000 in the previous full year.

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