![\"trustfund30032026\"](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/04\/trustfund30032026.jpg\" "\\"One")
Since 2020, the Trust Fund’s Enterprise Support Project (ESP) has empowered more than 300 small businesses in Sint Maarten with loans and grants. The project, implemented by the National Recovery Program Bureau, was established to strengthen recovery efforts and increase the resilience of businesses on the island following Hurricane Irma’s destruction in 2017. As ESP’s financing activities are now complete, the project is moving to the next chapter of support. This phase is dedicated to creating enduring support systems for the long-term success of local businesses even after ESP closes in 2028. These systems aim to reach many more businesses across the island in the years to come.<\/p>\n
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Since applications for grants and loans closed in February 2025, $20.1 million in financing support has been disbursed to 325 Sint Maarten businesses. 39 percent of those beneficiaries were brand new start-ups, and just over 43 percent were run or owned by women. After receiving their loans and grants, 38 beneficiaries signed up for 8 months of tailored, one-on-one business coaching to refine their business acumen. Preliminary figures from an ESP survey showed the project supported over 600 jobs and contributed to a 30% increase in revenues for micro, small, and medium-sized enterprises (MSMEs) across sectors, including hospitality, transportation, healthcare, agriculture, and others.<\/p>\n
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Aside from direct funding for beneficiaries, ESP also increased accessibility to training programs by funding public courses. This meant some training was free or at a reduced cost for participants. Over 350 entrepreneurs participated in ESP-funded training and coaching. These included 221 entrepreneurs who trained through the Small Business Academy run by Qredits and 84 business owners who completed the Entrepreneurship Development Program delivered by the Sint Maarten Entrepreneurship Development Center (SEDC). These programs helped both new and established business owners improve skills like running daily operations, managing money, and planning for the future.<\/p>\n
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Now that the loans and grants phase is complete, ESP is shifting its focus to building government-led support systems for small businesses, enabling them to thrive long after the project officially closes in 2028. \u00a0ESP is working closely with the Ministry of Tourism, Economic Affairs, Transport, and Telecommunication (TEATT) to create permanent and well-organized services for entrepreneurs. Activities in the next phase include a detailed study of the challenges small businesses face in accessing local financing. It will also provide practical recommendations and solutions to solve those problems. ESP will develop standardized guidelines and procedures for operating and monitoring business support programs. For beneficiaries, the project is offering a new round of one-on-one coaching for long-term success. Finally, ESP will continue to monitor and evaluate business support efforts. It will also conduct a job survey to measure the real long-term impact of financing on beneficiaries\u2019 businesses and job creation.<\/p>\n
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\u201cESP is a proven model for small business development. With the financing phase now complete, the project is focused on helping Sint Maarten\u2019s small businesses have a bright future. The Ministry of TEATT is committed to making sure the right tools and support are in place for the island\u2019s small businesses, both now and long after the Enterprise Support Project ends.\u201d Honorable Minister of TEATT, Grisha Heyliger-Marten.\u00a0<\/p>\n
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\u00a0\u201cOver the past six years, ESP has shown what is possible when you support entrepreneurs. More than 300 businesses benefited from financing and training, have strong repayment rates, and have contributed to job creation. Our focus now is working with TEATT to ensure that the support given by ESP can become a permanent part of how Sint Maarten serves small businesses.\u201d\u00a0 Claret Connor, NRPB Director.<\/p>\n
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Rose-Anne D. Wilson-Sagnia, Director of Sint Maarten Medical, is a beneficiary and coaching recipient. \u201cI took advantage of everything ESP could offer me, from the financing to coaching. My slogan is \u2018Dream only Big Dreams,\u2019 and ESP allowed me to go beyond that and have even bigger dreams. The funding meant I could purchase quality, professional items, enabling me to get everything in place for my dream to become a reality. That\u2019s the biggest perk for me; ESP allowed me to reach a higher level, so now I\u2019m looking forward to growing my business. In the future, I\u2019m considering more enterprises, franchises, and regional exposure. Yes, I am a small businessperson, but that doesn\u2019t limit my aspirations.\u201d<\/p>\n
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This new phase for the Enterprise Support Project aims to turn its successes and lessons into practical, long-lasting tools and systems. In turn, supporting the Government of Sint Maarten and its partners in their mission to help MSMEs grow in resilience and strength for many years to come.<\/p>\n
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ESP is implemented by the National Recovery Program Bureau on behalf of the Government of Sint Maarten. It is funded by the Sint Maarten Trust Fund, financed by the Government of the Netherlands, and managed by the World Bank.<\/p>\n","protected":false},"excerpt":{"rendered":" Since 2020, the Trust Fund’s Enterprise Support Project (ESP) has empowered more than 300 small businesses in…\n","protected":false},"author":2,"featured_media":557184,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[28,158,234833,234830,234828,234827,234832,234831,234829],"class_list":{"0":"post-557183","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-business","9":"tag-entrepreneurship","10":"tag-smn","11":"tag-smn-news","12":"tag-st-maarten-news","13":"tag-st-martin-news","14":"tag-sxm","15":"tag-sxm-island-news","16":"tag-sxm-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/557183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=557183"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/557183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/557184"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=557183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=557183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=557183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}