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Tag Archives: competitiveness

16% interest rate “ridiculous” for businesses to borrow from commercial banks – GCCI

The Georgetown Chamber of Commerce and Industry (GCCI) on Tuesday said its planned Business Development Forum would be geared to helping small businesses find other sources of financing. Senior Vice President of the GCCI, Timothy Tucker says that’s because interest rates at commercial banks are very steep compared to crowd-funding, boot-strapping and equity. “Apart from electricity costs in manufacturing, is ...

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