Caribbean Financial Services Corporation (CFSC) is a limited liability company incorporated in 1984 by a special Act of Parliament in Barbados.
CFSC is located in and operates out of Barbados and provides the English speaking countries in Caricom with developmental finance in the form of medium and long term loans, accompanied where appropriate by equity investments for start-ups and expansions. As a financial intermediary, the Corporation sources funds from local and international institutions and acts as a catalyst in attracting funding from other institutions through co-financing arrangements.
CFSC's core business areas are loan and equity investments to commercially viable, export-oriented, employment generating projects in the private sectors of the Caribbean including the Organisation of Eastern Caribbean States (OECS), Trinidad and Tobago, Guyana, Belize and Barbados. CFSC's clients are generally small and medium sized emerging, start-up and expansion projects that benefit from cash flow lending. CFSC remains the key regional financing organisation that provides debt and/or equity financing for such businesses.
CFSC is also a licensed broker with a seat on the Barbados Stock Exchange. The Corporation offers brokerage services to institutional and retail investors and acts as an issuing agent for companies offering shares to the public. Additionally, since its inception in 1984, the corporation has acted as an Arranger for syndicates and in the last few years has coordinated securitisations within the region.
As at March 31, 2010, CFSC has disbursed US$97 million to 268 projects. These projects have generated cumulative foreign exchange earnings of US$123.3 million and over 5,600 jobs have been created.
Effective September 2010, CFSC will have full control and management of the Barbados Investment Fund (BIF). The BIF was previously a joint undertaking with the Central Bank of Barbados, which was capitalised at US$3 million in 1992. As at March 31, 2010, the capitalisation of the fund was US$10.45 million.
Vision
The Corporation's vision is to be:
a leading innovative, high quality financial service provider, in strategic alliance with other regional and global financial institutions, which enables the sustainable socio-economic development and growth of the Caribbean for the benefit of the Caribbean people;
led and managed by a respected, innovative and responsive team of professionals; and
the financial institution of choice for both private and public sector development programmes.
Mission Statement
Emanating from CFSC's vision is its mission statement: -
"To be the high quality provider of comprehensive financial and advisory services to foster sustainable Caribbean business development while creating value for all stakeholders."
