Listen Live On Our Live Stream or Tune To Our Frequencies: 88.3 FM | 88.9 FM | 94.7 FM | 95.1 FM | 98.1 FM | 98.5 FM

The Social Security Board is welcoming persons looking to invest

And apart from SSB’s loan to the DFC, there is a two hundred thousand dollar proposal to Good Stays Hotel Ltd, which is additional funding to a $390,000 loan the company received last year. SSB CEO, Deborah Ruiz explained that the decision is part of the SSB’s strategic plan to expand its investment portfolio. Ruiz explained that any business person can approach the board to request a loan under specific guidelines and criteria. 

Deborah Ruiz, CEO, Social Security Board: “All persons have the opportunity to submit a loan proposal addressed to the CEO. We have our internal investment services department that look at the loan. It goes to an investment committee who screens for due diligence and ensures that everything has been checked off before it’s tabled to the Board for approval. All the services that we have, we need to find viable investments and basically it means that you have to present your collateral, your financial statements, and present your business plan as to how you intend to pay your loan, how you intend to make money so that we can look at it and assess whether the fact, it’s the same. We assess our loans based on the risk involved, how safe it is for us as we try to minimise our risk where possible, because we’re talking about insured persons’ money. So, we want to put the money to work for Belizeans and make sure at the end of the day that we are able to pay all the retirement claims. The collections that we do on a monthly basis help to facilitate the payment of sickness and employment injury. The main focus is building the reserve to pay pensions. That is where our focus is for the investment portfolios.So, it has to be a relatively safe investment, and we will get back a return. We are very liquid at this point, meaning that we are looking for viable business opportunities to invest. So, we appreciate that people have businesses that they want to look at and consider Social Security as an option. As I said, at this point, we are looking at a minimum of $250,000.00 if you have something that you expect will cost you that much and you can pay, we are willing to look at it.”