How to ac­cess a DBJ loan and guar­an­tee

Jamaica Gleaner - - GROWTH & JOBS -

ARE YOU a mi­cro, small, or medium-sized en­tre­pre­neur who needs a loan but (a) does not know where or how to ac­cess the funds or (b) does not have enough se­cu­rity to get the loan?

The De­vel­op­ment Bank of Ja­maica (DBJ) can help you. Sim­ply go into your fi­nan­cial in­sti­tu­tion and ask for a DBJ loan or for the guar­an­tee that the DBJ pro­vides.

DBJ loans are avail­able through ap­proved fi­nan­cial in­sti­tu­tions that in­clude com­mer­cial and mer­chant banks, credit unions, the EXIM Bank, the Na­tional Peo­ple’s Co­op­er­a­tive Bank (NPCB), and other fi­nan­cial in­sti­tu­tions.

For en­trepreneurs with good projects but in­suf­fi­cient col­lat­eral or se­cu­rity, the DBJ’s Credit En­hance­ment Fa­cil­ity (CEF) pro­vides par­tial guar­an­tees to lenders so that en­trepreneurs can get fi­nanc­ing. The CEF guar­an­tees up to 80 per cent on loans be­low J$6.25 mil­lion and 5 per cent on loans be­low J$30 mil­lion.

The DBJ’s guar­an­tee has al­lowed al­most 300 en­trepreneurs to ac­cess over J$2 bil­lion in loans through 15 ap­proved fi­nan­cial in­sti­tu­tions.


I Sco­tia­bank Ja­maica I CIBC First Caribbean Int’l Bank I Citibank N.A. I First Global Bank I Na­tional Com­mer­cial Bank I Sagi­cor Bank Ja­maica I Sagi­cor In­vest­ments Ja­maica I JMMB Mer­chant Bank I All Credit Unions/JCCUL I EXIM Bank I Na­tional Peo­ple’s Co­op­er­a­tive Banks I May­berry In­vest­ments I Ja­maica Na­tional Build­ing So­ci­ety I JN Fund Man­agers

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