Interested in applying for a micro or small business loan? Here’s some key information that you typically need when applying for this loan at institutions here in Jamaica:
- An I.D. (passport, driver’s license or national (voter’s) I.D.)
- A TRN number
- A telephone contact number
- Two passport size photographs
- A new or existing business that has been in operation for a minimum of 6 months
- At least four recent utility bills (electricity, telephone, water or cable)
- Name and addresses of four character references (including an adult family member or relative)
- Credit references (if you have borrowed before from other local financial institutions)
- Collateral – items that can be used to secure the loan … typically anything from household appliances and furniture to a vehicle or property
Contact a bank, building society, credit union or other micro-lending institution for more information.
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