Wayne Boodram, MIPED Client

The launch of the Mayaro Initiative for Enterprise Development (MIPED) provided a foundation from which to administer the seed fund of US 1.2 million, granted by BPTT in 2002. MIPED became the first micro-finance lending organisation sponsored by a private non-financial company, in Trinidad and Tobago.

Under the guidance of its first Chairman and founder, Ken Gordon, and current chairman Mr. Asraph Ali, MIPED has been able to entrench itself has part of the economic and social landscape or Mayaro, well on its way to achieving sustainability.

The MIPED Programme is intended to create sustainable employment and growth through training in Marketing, Accounting and Management

MIPED staff

MIPED Loans

MIPED provides small- and medium-sized loans to entrepreneurs, within the Mayaro and neighbouring communities. It is specifically targeted toward individuals who do not meet the average lending criteria for a commercial bank. MIPED allows micro-entrepreneurs and small businesses to access funding for start-up and expansion, attain the know-how, productivity and profitability to be credit worthy and successful.Through its services and loans, MIPED helps micro-entrepreneurs strengthen their businesses,
stabilize incomes, create additional employment and contribute to the economic revitalization of Mayaro-Guayaguayare.

How does it work?

Bring in a basic Business Plan outlining your business venture and we will assist you with the rest. All information will be verified and the plan will be checked to ensure that your proposed business venture is viable.

Initial loans may be small, but may be increased after each successful repayment. In the process, you are creating a track record that makes you credit worthy in the formal banking system. MIPED will plan the disbursement of loans over time to ensure that you get the maximum use of the money you need. MIPED will also work closely with you to monitor your business, as our objective is the success of your enterprise and repayment of loans.

 

Where do I start?

1
Download, print and fill out our application form (link above)
2
Call, visit or use the contact form below to set up an appointment
3
Walk with the relevant documents (see the ‘What do I need?’ tab) on the day of your appointment

 

What do I need?

Walk with the following items:

  • Identification (ID Card, Driver’s Permit, Passport)
  • Proof of Address (Utility Bill, Bank Statement)
  • Job Letter, Pay Slip (if employed)
  • Estimates
  • Pro-forma Invoices (materials, stock)
  • Statement on all existing loans (if any)
  • Affidavit attesting to ownership for items offered as security, where receipts are not held
  • Any other documents related to the use of loan funds.

 

Where are Loans Distributed?

Through its services and loans, MIPED helps micro-entrepreneurs strengthen their businesses, stabilize incomes and create additional employment and contribute to economic revitalization.

  • Clear Water
  • Calmapas Village
  • Cascadoux Trace
  • Dades Road
  • Ecclesville/Miles End
  • Guayaguayare
  • Grand Lagoon
  • Kernaham
  • La Brea Village
  • Mafeking Village
  • New Lands Village
  • Ortoire Village
  • Pierreville/Plaisance
  • Radix Village
  • Resthouse Village
  • Rio Claro
  • St. Ann’s Village
  • St. Margaret’s Village
  • Stone Bright Village
  • Union Village