Loans Jamaica

Newly Launched Microfinancing Association Invests In Creditor Database

The Jamaica Micro-financiers Association Limited (JaMFA), which was launched yesterday, has announced that they have invested in a searchable database for Jamaican borrowers, one that can be used by its members and others to keep track of clients and the collateral that they have used for loans. It is hoped that the database will help [...]

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Jamaica Microfinancing Association Launched

The newly formed Jamaica Micro-financiers Association Limited (JaMFA) was launched yesterday. It has been announced as an entity that seeks to change the image and conduct of moneylenders in Jamaica’s micro-finance sector. Another of its goals is to be recognised by both private and public employers who, in the past, often refused to permit loan [...]

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Scotia Plan Loans

As per ads in the newspapers recently, check out some of the details below on ScotiaBank’s Scotia Plan Loans: Interest rates starting at 19.75% Payment terms of up to 72 months A pre-approved MAGNA MasterCard or GOLD MasterCard credit card (* conditions apply) Creditor life insurance coverage of up to $7.5 million (* conditions apply) [...]

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Special Education Loan

The Westmoreland Co-operative Credit Union Ltd., with their mantra “… helping you achieve financial success”, ran an advertisement in the print media recently, offering their “SPECIAL EDUCATION LOAN”. This loan is available to all members and their dependents, and you can use your loan to pay for: tution, books, accommodation. The special loan rate being [...]

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UK-Based Credit Bureau Wants To Set Up Operations In Jamaica

Premier Credit Bureau Ltd., a Uk-based credit bureau, is reportedly awaiting the go ahead from Jamaica’s Parliament before rolling out its credit bureau offering here in Jamaica. Over the past eight months, they have reportedly been working closely with the Bank of Jamaica (BOJ), the Government, consumer groups, lenders, and all interested parties to ensure [...]

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Low-Interest Loans For Jamaican Farmers

A feature in today’s Jamaica Observer newspaper, takes a look at one of the promises that was made by the Jamaica Labour Party (JLP), while it was the Opposition Party during the run-up to the 2007 general elections. The JLP introduced its proposal for the agriculture sector under the heading ‘Launching a new agricultural revolution’, [...]

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NCB Announces 9% $1-Billion Loan Fund

Following ScotiaBank’s recent announcement of the creation of a 9.95% loan pool for the productive sector, National Commercial Bank of Jamaica has announced the creation of a $1-billion concessionary loan fund that will provide loans at 9.0%. Loan applications for the facility will reportedly open on November 1, and close April 2010 – with special [...]

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Students’ Loan Bureau To Publish Pictures Of Delinquent Borrowers

The Students’ Loan Bureau has run an ad in today’s newspapers, advising delinquent borrowers that their photographs will be published in the print media this coming Sunday, October 25, if their outstanding loan payments are not made. The ad states: You don’t want your photograph published on Sunday 25th October 2009 Delinquent borrowers paying directly [...]

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ScotiaBank Reduces Lending Rates Again

Scotiabank Jamaica announced yesterday that effective November 1, 2009, it will cut its base lending rate by 62 basis points to 19.88%. This is the second rate reduction announced by ScotiaBank in the past three months, and this new 19.88% will be the lowest loan rate compared to all the other local commercial banks. ScotiaBank’s [...]

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Government Revolving Loan Scheme For Teachers Has Cash Flow Problems

Audrey Sewell, Permanent Secretary in the Ministry of Education, has admitted that the two-year-old Government revolving loan scheme for teachers who are pursuing tertiary studies, has been hit by cash flow problems. In recent times, teachers have complained that they have not been able to access loans from the institution (Capital and Credit Merchant Bank) [...]

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