The Private Sector Commission (PSC) has welcomed the operationalisation of the Collateral Registry, established under the Security Interest in Movable Property Act No. 20 of 2024.
Previously, banks mainly accepted land or buildings as collateral limiting access to financing for many small businesses.
Now, with this new system, movable assets such as vehicles, machinery, and equipment can be used to secure loans, opening new avenues for entrepreneurs, startups, and SMEs to access capital.
In a statement on Thursday, the PSC said this milestone “strengthens Guyana’s business environment, promotes financial inclusion, and supports the growth of a more diverse and competitive private sector”.
“The PSC commends the Government of Guyana and all partners involved in advancing this progressive step toward economic diversification and empowerment,” the statement added.
In a statement earlier this week following the operationalisation of the registry, Minister of Tourism, Industry and Commerce Susan Rodrigues said this marks another important milestone in the Government’s agenda to create a more inclusive, efficient, and modern financial system. She emphasised that the initiative forms part of the Government of Guyana’s broader efforts to improve access to credit particularly for SMEs, women entrepreneurs, and vulnerable groups by expanding the range of assets that can be used to secure financing.
Minister Rodrigues also highlighted that this achievement represents a major milestone in the government’s digital transformation agenda within the financial sector, reflecting its commitment to modernising systems, enhancing efficiency, and promoting greater accessibility to financial services across Guyana.
Movable assets now accepted as loan security as ‘Collateral Registry’ becomes operational
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