Corporation (BSBDC) show 25 guarantees worth $584,100 were issued on loans totalling $1.15 million.

The organisation's annual report released Friday, provides figures for the year ending, March, 31, 1993.

Guarantees were up 69.8 percent from 1992 while loans increased 11.8 percent from the year earlier.

"The effects of the recession have given rise to a very significant increase in the demand for the Corporation's business advisory service, this need has been met through individual consultations and by community based initiative to combat the difficulties arising from the recession,'' according to Mr. Craig Christensen, BSBDC chairman.

Over 500 people representing 100 different types of enterprise, sought advice and other assistance during the year under review.

"This significant increase in the demand for assistance -- almost a doubling of 1991 client requests -- can be clearly attributed to the lingering affects of the recession, according to the report.

The biggest year for the organisation was 1990 when guarantees worth $648,100 on 29 loans totalling $1.53 million were approved.

At March 31, 1993 total guarantees were $5,586,875 while the loan total was $12,941,860.

The corporation was established by the BSBDC Act 1980 to assist the development of the small business sector through advice and financial support.

Operations commenced in January, 1981 and were capitalised to the sum of $680,000. Government, the Bank of Butterfield, the Bank of Bermuda and the Bermuda Commercial Bank contributed $340,000, $160,000, $150,000 and $30,000 respectively.

Without the corporation's guarantee the many clients would not have be able to go into business, according to the report.

At March 31, 1993, 85 guarantees totalling $1.62 million were outstanding.