Andros small business approved for largest funding through Access Accelerator

Andros small business approved for largest funding through Access Accelerator
(PHOTO: IADB)

ANDROS, BAHAMAS — Central Andros Shipping (CAS), a marine transportation and shipping company, was approved for $735,000 from Fidelity Bank and the Bahamas Entrepreneurial Venture Fund (BEVF) through the Access Accelerator Small Business Development Centre.

CAS is now the recipient of the largest approved funding through the organization.

Nicholas Higgs, director and chief operations officer at Access Accelerator, gave credit to Valentino Munroe, CAS owner, for being dedicated to the process.

Higgs said: “Having a client approved for funding is always exciting for us at the Access Accelerator. We understand the difficulty in accessing capital for Bahamian small businesses, so an approval for funding proves that the Access Accelerator is working to bridge the gap and provide real results for small businesses.

“Valentino has put in a lot of work and remained committed to the process. That dedication and willingness to work is ultimately how we are here at the funding stage. We simply provided the support he needed and we are very proud of Central Andros Shipping.”

CAS, based on Andros, will begin providing mail boat and cargo shipment services between Nassau and Andros and Florida and Andros by the end of 2021.

Munroe faced many delays since starting his business in 2017. However, leaning on passion and lessons taught to him from a child, the Andros native now has the necessary capital to officially operate.

“Our vision is to transform shipping in The Bahamas using our knowledge of technology to develop logistical customer-centric systems to reduce cost and improve efficiency,” Munroe said.

“CAS is in the market to purchase a 180-foot vessel. The funding will primarily be used for that purpose and to develop our shipping infrastructure so that we can service our routes effectively.

“I look forward to having the opportunity once again to serve the Andros community, from north to south, building on the legacy of service that was the foundation of my dad’s success over the many years. Andros is home and we are ready to help support Androsian families and expand Andros’ economy.”

Grateful for the assistance from the Access Accelerator, Munroe shared that the organization directed his focus and supported him through the process.

“The Access Accelerator has been a tremendous help. The training offered as part of the application process is useful in helping to direct your focus on critical business issues that sometimes may be overlooked in our pursuits,” Munroe said.

“The staff are courteous, and passionate about your success. The team really goes overboard to ensure that you advance through the process as an applicant. The Access Accelerator team really becomes a part of your team and provides you with the support to complete the process successfully.

“Honestly, with their support, and your commitment as an applicant, you cannot not be approved for funding. The process may take a while, but it will happen.”