Hideaway True Blue
“The entire building is poured concrete
structure and we certainly kept the Concrete
companies busy over the last year.
“From beginning to end the project has cost
$20million EC dollars. Some of it has been
self financed and the other portion of debt
financing was provided by the local division
of Republic Bank. We were very happy with
their services, their turnaround time and they
certainly kept their side of the bargain so
we are extremely pleased with them.” Nixon
states.
CBI
“We got involved with the CBI as one of the
local banks we were dealing with let us down
badly. I was distraught. The bank had told us
to spend our equity on the project and they
would back us up when we needed them, but
they withdrew their offer leaving us seriously
cash strapped. I happened to be at a CBI
conference in Hong Kong at the time and I
told myself “Wake Up” look at where you are?
What other form of Foreign investment do you
need? So I immediately tweaked the business
model to include a CBI portion of the debt
financing.” With Nixon embracing the CBI as
a Grenada Government approved Real Estate
project, the development was poised for
“
it work for them also.
Nixon claims “On a Consultancy level, I am
willing to help any local who may need help
in structuring their business plan to include
a CBI portion of their debt financing. Having
come from a background of strategic business
and capital structuring I can help guide anyone
I urge our local business people to
take advantage of our own CBI Program
and make it work for them also
instant success.
“With CBI I see an opportunity for many
local developers who may own land and want
to develop it but do not necessarily have
the money to do so. Banks can be very tight
sometimes with offering finance so this is
another option and opportunity for Grenadians
to benefit from the CBI program. Thats where
the rubber meets the road. Adds Nixon, "The
CBI program should be for Grenadians and
Grenadians should benefit and view it as an
alternative form of financing. We welcome
foreign investment every day all day long
but I urge our local business people to take
advantage of our own CBI Program and make
“
“The Conceptual designs were done by
a local architect Eric Johnson of Atlantic
partnership, and he brought us right through
the planning stage and then the Chinese did
all the structural engineering drawings to
help make the actual building process as cost
efficient as possible.
Hideaway True Blue
through the process as CBI funding can go
hand in hand with bank funding. Its an offset
for the bank, limiting their exposure and
going someways to guarantee they get their
money back. Of course I would charge for my
Consultancy services as my knowledge cost me
a lot to learn, but we can always come up with
ways in which you can pay for it whether that be
giving me a piece of equity in the business or
paying me a flat fee."
“As an example a local approached me with
land and asked me if I want to buy it to develop
a project …I said “No” I don’t want you to sell
your asset I want to help you instead to develop
PHOTOS BY TONY MCQUILKIN
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