Loans Jamaica » Small Business Loans

Government To Seek $500M In Loans To On-Lend To Small/Micro-Business Sector

admin — Wed, 30 Jun 2010 21:30:29 +0000

Speaking in the House of Representatives yesterday, Prime Minister Bruce Golding announced that the Government will soon be seeking $500 million in loans to on-lend to the small and micro business sector, in order to give added lift to budding entrepreneurs who need assistance in hurdling financial roadblocks. According to PM Golding, too many people were prevented from becoming successful because they could not source start-up capital.

According to PM Golding, “We face a problem that we are not able to match good ideas with collateral. Very often, people come forward, they have good ideas, they are well-intentioned, (but) they lack the collateral and very often they are excluded from credit financing.”

The news of the Government’s plans coincided with the retroactive approval of a $150-million loan guarantee from the Development Bank of Jamaica (DBJ) to the Jamaica Business Development Corporation. The loan is repayable over seven years and attracts annual interest of seven per cent; the funds have been on-lent to micro and small-business operators at 10 per cent per annum.

JN Small Business Loans Ltd. Offers Its BizLoans

admin — Fri, 11 Dec 2009 04:52:29 +0000

As advertised in today’s Gleaner newspaper:

Starting or expanding a small business? JN Small Business Loans Ltd. Biz Loans

BizStart
Micro Business (Start-up) Loan
This one is for you if you are starting a micro business in manufacturing, agriculture, agro-processing, trading or general services. Borrow a maximum of $84,000 for a first loan and repay within 30 weeks.

BizGrow
Small Business (Medium-term) Loan
This loan is for expanding your micro or small business. A maximum of $120,000 may be accessed as a first loan to purchase raw materials, tools and stock.

BizEvents
Short Term – Special Events Loan
Use this loan to finance seasonal ventures such as Valentine’s Day, Mother’s Day, Back-To-School or Christmas. Borrow $50,000 and get 10 weeks to repay.

BizBoost
Small to Medium-Sized Business Loan
A real boost for small to medium-sized businesses involved in craft, light manufacture, agriculture, agro-processing, tourism, mining, quarrying or professional services. Borrow between $300,000 and $3 million to boost your business.

For more information on these Biz Loans, call toll free 1-888-725-6267 or visit any Jamaica National branch islandwide.

Access Financial Targets Small Businesses

admin — Mon, 30 Nov 2009 07:26:53 +0000

In a recent round of newspaper advertising, Access Financial Services Ltd. is pointing small businesses at its loan products. The ad reads:

Give your business the winning edge with a loan from Access.

Why Access: Access understands the needs of small and micro business and tailors its products to meet those needs.

We offer: Low interest rates, quick loan approval, flexible payment terms.

For more information, contact Access Financial Services Ltd. by calling 1-888-GET-ACCESS

DBJ To Make J$1B Available To Micro & Small Businesses Via Loans

admin — Sat, 07 Nov 2009 17:04:06 +0000

Minister of Finance & The Public Services Hon. announced recently that the Development Bank of Jamaica (DBJ) will make J$1 billion available to support micro and small businesses. He said that this had become necessary due to the challenges – related to the provision of collateral for loan applications – which businesses operating in these sectors are experiencing.

Minister Shaw said “it is a concern of Government. Not the unavailability of money, but the inability of those who would like to get the money to be able to get it. There are some windows that are open, and the Development Bank of Jamaica has decided to make more resources available to the micro and small business sector. In fact, the Cabinet recently signed off on a programme (where) $1billion will be made available.”

He also urged micro and small business stakeholders to engage the International Finance Corporation (IFC) of the World Bank, in discussions regarding sourcing assistance for their operations. Arising out of recent talks that Minister Shaw had with World Bank principals, he indicated that the World Bank was keen on working with the small business and micro-finance sectors in Jamaica. He said that the institution was cognizant of the key role which the sector and organizations, such as the newly launched Jamaica Microfinancing Association (JaMFA), play in driving Jamaica’s economy. So keen are they, that they accepted his invitation to establish an office of the IFC in Jamaica, and that actually happened in September of this year.

MCCU Small Business Loan Facility

admin — Mon, 27 Jul 2009 11:32:51 +0000

The Montego Co-operative Credit Union (MCCU) Ltd. located at 6 Sam Sharpe Square in Montego Bay, St. James, has run press ads recently announcing its MCCU Small Business Loan Facility.

This loan facility is available for: trading, business services, agriculture, production of craft items, manufacturing and agro processing. With it, you can get up to J$5M at 10% per annum (reducing balance) with free loan protection insurance of J$1M.

To apply, or to get more information, visit them at the address above, or telephone 952-1190.