The National Commercial Bank Jamaica Limited (NCB) announced the re-launch of its Nation Builder Credit Line with an impressive market leading interest rate of 8.5%, effective November 1, 2011. A total funding of one billion Jamaican dollars will be available to small and medium enterprises until February 29, 2012.
This Credit line was re-launched at the bank’s Nation Builder Awards Ceremony recently with a specific target group in mind, which includes established businesses, in operation for more than two (2) years in the Agricultural, Manufacturing, ICT and Tourism sectors. Additionally, established businesses, in operation for more than two (2) years in any sector, with the desire to invest in energy-saving equipment or projects can also receive a loan through the Nation Builder Credit Line.
“As the nation’s leading indigenous financial services institution we are serious about our responsibility to make business decisions that will positively impact the lives of those whom we serve”, stated Patrick Hylton, NCB Group Managing Director. “This special offer is in support of our productive sectors so that we can continue to help them realize cost savings in real terms,” he added.
The Nation Builder Credit Line was first launched in 2009 as a limited-time offer with a $1-billion concessionary loan fund. Some of the features under the current facility will include:
- Minimum: JMD500,000
- Maximum: JMD15,000,000
- Up to five years to repay
As industry leaders, NCB was the first financial institution to set up a unit to focus on small and medium enterprises and help them to achieve growth. NCB's SME Unit is ready with a wide variety of products and services including financing, cash management, credit cards and electronic banking.
“The productive sector which includes many of our SMEs represents an important area of emphasis and we remain focused on delivering value to them this as we share the global view that SME development is the key to economic growth” stated, Hylton.