Spotlight on GBTI and Its Agricultural Loans

Spotlight on GBTI and Its Agricultural Loans

Committed to supporting farmers throughout Guyana, GBTI is the largest lender to Guyana’s agricultural sector. We look at GBTI’s agricultural loans and how they support Guyanese farmers , providing a range of financing solutions that cater to changing business dynamics.

GBTI offers agricultural financing in a range of sectors. The bank currently finances ventures operating in different agricultural areas, including poultry farming, livestock, aquaculture (shrimp and fish), cash crops, cane farming, and agricultural processing.

Benefits of Agricultural Loans for Farmers

Through its financing program, the bank also helps farmers to increase cultivation and to upgrade their farming equipment and machinery. As a result, it provides sound support within the agricultural industry.

Moreover, GBTI offers its customers in the agricultural sector a number of key benefits. They include quick approval, experienced credit officers, preferential interest rates, and production cycle repayment terms.

Rice Farming Loans

GBTI also offers specialized financial solutions to rice farmers. The bank has always been a strong supporter of rice agriculture and provides financial support for the acquisition of land, machinery and equipment, paddy, fuel and lubricants, and fertilizer.

In addition, GBTI offers green loans. These can be used to finance wind-powered projects, hybrid motor vehicles, energy-saving appliances, hand-powered projects, solar energy projects, and water treatment projects.

Some of the added benefits of GBTI’s green loans include a 25% discount on other lending services with no late payment fees or prepayment penalties. The bank also offers a one- to six-month moratorium on instalment payments, as well as competitive interest rates and fast approval.

Moreover, GBTI provides manufacturing loans for small- to medium-sized projects. The loan is targeted to investors seeking to increase plant and stock capacity, as well as product quality. The bank also offers trading and service loans that can help companies in the retail trade and service industries to boost inventory, upgrade facilities, and buy equipment.

A Commitment to Customers

Guyana Bank for Trade and Industry Limited has enjoyed a long and successful history, spanning almost two centuries. Originally established in May 1836 as the Colonial Bank, GBTI amalgamated with the Republic Bank (Guyana) Ltd, and the bank was subsequently privatized.

Today, GBTI is part of Barclays PLC. GBTI caters to both individual and corporate clients, providing personal checking and savings accounts, business loans and investment accounts, as well as a range of other financial products, including credit cards, loans, and housing financing. The bank prides itself on finding innovative solutions and enriching the lives of its customers. By providing a range of innovative saving and lending solutions, GBTI aims to make its customers’ lives easier.

The bank is committed to each and every one of its customers, ranging from individuals to multinational corporations. GBTI offers a range of banking services, from retail lending to commercial trading facilitation services.

GBTI focuses on assisting individuals in establishing small businesses and helping them grow to their full potential. GBTI helps customers turn their dreams into reality, providing personalized financial solutions tailored to individual needs. GBTI understands that by helping individuals and their business to grow and flourish, they can ultimately drive the growth and development of Guyana as a whole.

More than 600 employees work for Guyana’s premier bank at offices in Port Kaituma, Corriverton, East Berbice, and Lethem.

Support for Guyanese Communities

Actively involved in philanthropic endeavors, the organization launched a charity calendar in 2018, using the proceeds to support 10 charitable organizations that are making an impact in Guyana. Every year, the bank selects nonprofit organizations dedicated to serving those in need. In 2018, the bank pledged more than $1 million to worthy causes in an effort to uphold its corporate social responsibility objectives.

Over the years, presentations have evolved into an awards ceremony that recognizes the efforts of talented students who entered GBTI’s annual Calendar Competition. The competition is open to children between the ages of 9 and 17 across Guyana. Competitors enter a piece of artwork on a pre-selected theme. GBTI’s theme for 2018 explored the topic of saving and why it is key to a brighter future.

Charitable organizations honored at the 2018 event included the Red Cross, Food for the Poor, Help and Shelter, and the Salvation Army.

Fund Supports Hurricane Relief Efforts

Committed to helping others, the bank donated $3 million to the National Emergency Management Agency in the immediate aftermath of Hurricane Dorian. GBTI then established a hurricane relief fund to enable bank staff, customers, and members of the public to support relief efforts throughout the Bahamas.

On October 1, 2019, GBTI closed the fund, presenting a check for almost $2 million to the Civil Defense Commission, the body responsible for coordinating national support efforts throughout affected areas.

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