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Good Stays Hotel’s Loan Application Approved

And another loan application that raise eyebrows was one submitted by Good Stays Hotel. Love News confirmed that the Social Security Board approved the two hundred thousand dollar loan for capital expenditures. We asked SSB Ceo, Deborah Ruiz, if a part of the process involve identifying the owner of Good Stays Hotel Limited. 

Deborah Ruiz, CEO, Social Security Board: “Good Stays’ application is already in place. They, in fact, have made two applications. They made an application last year to expand the hotel that they are doing. They asked for a pool and a restaurant, and then they came back for capital to invest to purchase what you would call equipment and all of that to finalise the hotel. My understanding is that the hotel is in fact hiring staff at this moment, and they should be opening, if not this week, next week.”

Reporter: In that case, does the SSB require to know exactly who is the owner of Good Stays?

Deborah Ruiz, CEO, Social Security Board: “Part of the process is that we confirm the registration, and that can be done through the registry office, and the payout is minimum $5.00 to confirm who the principals are. So, our investment services department would do all of those preliminary checks, and letters of good standing, and all those things that you’re paying your taxes, and all of those things are customary that we would check.”