From 25 loans worth $135,000 in 1986, the Institute of Private Enterprise Development (IPED) now serves more than 5,000 clients, with a loan portfolio above $6 billion.

IPED Chief Executive Officer Jagdesh Haripershad shared the milestone at the World Trade Centre Georgetown's recent Trade and Business Conference. The institution began with about $1 million in initial funding, he noted, and its first loans averaged about $5,000 per client.

That growth reflects IPED's role in financing entrepreneurs and small businesses, including those that may struggle to access traditional banking services.
"It is an excellent example of how an institution can grow from very humble beginnings," Haripershad said, reflecting on four decades of development.
Success, however, did not come quickly.

"This growth did not happen overnight and required some management discipline, perseverance and the confidence to adapt to changing circumstances," he said.
Beyond lending, Haripershad said IPED helps entrepreneurs build the skills to manage and sustain their businesses through business development, financial education, training and partnerships.

Money alone, he added, does not build a lasting enterprise. Entrepreneurs must also understand their markets, manage cash flow, control costs and ensure borrowed funds are used effectively.

He urged business owners to tell sales, profits and cash flow apart, warning that even a profitable business can run into difficulty if it lacks enough cash to meet its obligations.