ECAB HOSTS ITS FIRST SMALL BUSINESS FORUM
The Eastern Caribbean Amalgamated Bank hosted its inaugural small business forum on December 4th, 2024.
The event, “Elevate with ECAB,” was created to equip small business owners with the tools to advance their businesses.
Forty entrepreneurs attended the event held at the Trade Winds Hotel to learn from experts in various industries.
Among the featured speakers were Antigua & Barbuda Intellectual Property & Commerce Office Registrar Ricki Camacho and Inland Revenue Department Deputy Commissioner Jermaine Jarvis.
The government officials provided insight to help businesses operate within the confines of laws and regulations.
Meanwhile, Chartered Accountant, Heather Browne spoke on the importance of managing business accounts, and marketing expert Chalita Rose shared applicable information on building and sustaining a business’s brand.
ECAB’s Small Business Manager Sharon Williams-Potter said, “It is essential that we further engage with our clients. We want to be more than their financial partner; we want to see their businesses succeed and provide assistance so that they can fulfill their goals.”
ECAB’s General Manager Michael Spencer underscored the importance of small businesses. He said, “Small businesses are the fulcrum on which a nation like Antigua & Barbuda is built. We understand the importance of providing them with the tools to be successful.”
Senior Manager of Retail & Commercial Lending Adrian McLean also thanked the attendees for choosing to be a part of the workshop.
The event was well received by the diverse group of invited business owners who actively participated in the discussions.
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I am very scared of the subjectivity on this premise that I am a small business, so the bank has socially engineered an economic status for keeping me down there. not really help me, because if you go to them on real business it will be hijacked, let’s say I want to open a gas station, that will be subjected to government giving permission, too much obstacle in the way, the white people colonize our land and resources and labor forces and get help from their financial institution to do business small or big any part of the world, fo you think ecab would lend money to invest elsewhere ?
I am very scared of the subjectivity on this premise that I am a small business, so the bank has socially engineered an economic status for keeping me down there. not really help me, because if you go to them on real business it will be hijacked, let’s say I want to open a gas station, that will be subjected to government giving permission, too much obstacle in the way, the white people colonize our land and resources and labor forces and get help from their financial institution to do business small or big any part of the world, so you think ecab would lend money to invest elsewhere ?
This is a joke, right, Ecab claiming to care about anyone other than themselves ?
Just a few days ago ECAB sent this list of demands out to all their small business customers. Do you think they have any idea just how time consuming this is going to be for a small business ? At least I now know who to complain to, Michael Williams and Sharon Williams-Potter:
I hope this email finds you well. The Eastern Caribbean Amalgamated Bank Limited (ECAB) is in the process of updating our records to facilitate compliance with the applicable Know Your Customer (KYC) and Anti-Money Laundering (AML) policy guidelines and tax regulations. As part of this process, and also to comply with requirements for the Common Reporting Standard (CRS), the Foreign Account Tax Compliance Act (FATCA) and Credit Reporting Legislation, certain additional information may be required from you.
Please note below and attached documentation required to update your accounts with us. All forms highlighted in blue are attached. Forms can be completed by our Customer Service Officers in branch once all other documents outlined below are available at the time of your appointment. Alternatively, you can complete the forms and have them notarized if not signed in the presence of a bank officer.
Corporation/Limited Company Information:
1. Certificate of Good Standing (if incorporated more than 1 year)
2. 2. Proof of Address for the Business
3. Form N6 – Certificate as to Officers and Directors (Company Seal affixed)
4. Form N15 – Resolution Re Authority to sign (Company Seal affixed)
5. ECABANK- CIF ACCOUNT (CORPORATE) form for the company
6. ECABANK – CORPORATE ACCOUNT form (one for each account)
7. 6. Indemnity Form
8. Company Seal (required to seal bank documents)
If US, customer must provide the following information:
§ Tax/Employer Identification Number (entities)
§ US Address (if applicable)
§ W9 Disclosure For US Entities
If not a US entity, customer will be required to complete:
a. CRS-E Entity Tax Residency Self-Certification Form
b. Certification of Registration/Incorporation for each jurisdiction
c. Entity Tax Identification Number or GIIN (if exists) for each jurisdiction
Items as listed below are required for each signatory, shareholder, director, controlling person and beneficial owner.
NATIONALS
• ECABANK- CIF ACCOUNT (PERSONAL) form
• Valid (unexpired) Photo ID for each signatory on the Account. (The primary form of Identification is the Passport).
• Proof of Address (no more than three months old): Utility Bill, Driver’s License, Bank Account Statement, Electoral Card, Lease/Tenancy Agreement
• Original Bank Reference (if applicable)
• Confirmation of source of wealth and funds: letter from employer or company/business verifying occupation, position held, period/term of employment and amount of income; contracts; invoices; probate /letters of administration; etc.
• Confirmation of US Citizenship Status
If US citizen, customer must provide the following information:
• US Passport and/or Alien Card
• Social Security Number (individuals)
• Tax/Employer Identification Number (entities)
• US Address (if applicable)
• W9 Disclosure For US Persons
If not a US citizen, or if the customer is a citizen/resident of another country, customer will be required to complete/provide:
• CRS-I Individual Tax Residency Self-Certification Form
• Passport/Residency Card for each jurisdiction
• Tax Identification Number for each jurisdiction
Please note that if you cannot present the original of any of the below requested documentation and/or attend in person to sign off, each copied document must be notarized as a ‘true and accurate copy of the original’ and/or ‘signed in the presence of the notary’ and the contact information for the Notary Public provided to allow for ease of communication, if necessary.
Once you have all required documents, you can request an appointment by calling 480-6186, emailing [email protected] or visit our website at https://www.ecabank.com/home/index.php?id=282.
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