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Jamaica: Hanging On To Hope – MoBay Businesses Racked By Pandemic Anticipate 2021 Turnaround

Despite the COVID-19 pandemic, which held the local economy in its stranglehold for much of last year still raging on, a number of business operators in Montego Bay, St James, are looking forward to 2021 with renewed hope and confidence.

Businesswoman Denisher Forbes is hoping that her lending firm will be poised for a more profitable performance this year.

According to Forbes, the managing director of E-Loan Micro Financing Limited, her company closed in 2019 with approximately $40 million in loans, mainly to clients in the hospitality industry, which represents about 75 per cent of her customer base.

The pandemic had virtually crippled the travel and leisure sector for a significant part of last year, a heavy hit to the close to 300,000 direct and indirect employees in the local tourism sector, many of whom were put out of work.

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