Funky Fungi capitalizes on assistance from SLHTA TEF’s Enterprise Development Fund (SLHTA Newsletter – 28th June 2021)

Ever since becoming the first beneficiary of the SLHTA TEF’s Enterprise Development Fund (EDF) in December 2019, local business Funky Fungi has mushroomed into an even better success story. It turns out that the company’s very existence is also deeply connected to the Fund.

Unveiled at the SLHTA’s Annual General Meeting (AGM) in August 2019, the EDF focuses on supporting existing enterprises which have already been in operation but are seeking financial injection to better penetrate the tourism and hospitality sector. By acting as a loan guarantee facility the EDF enables qualifying small businesses to access the capital critical to enhancing their competitiveness and profitability.

In December 2019, the TEF presented a check for EC$25,000 to Funky Fungi, a local commercially-capable supplier of mushrooms owned and operated by entrepreneur Alexis William. The company has been able to reliably and consistently provide a product to the hospitality sector that is fresher and more affordable than those imported…Read More