We know accessing financing can be difficult especially for businesses with very little collateral. National Commercial Bank Jamaica Limited (NCBJ) has partnered with the United States Agency for International Development (USAID) to provide a special loan guarantee for SMEs in select Caribbean countries with collateral constraints, which will enable them to access funding for Energy Savings Projects, Clean Energy Production Projects and Other Projects such as working capital support, investments in machinery, equipment, facilities, business expansion and small-scale irrigation systems. Under the agreement, USAID will provide a 50% loan guarantee up to a loan portfolio limit of US$25M (J$3.4B). Who is Eligible:
SMEs will be able to access funding for: Energy Savings Projects such as investments that enhance energy productivity, including retrofits, upgrades or maintenance or investments in leasing, manufacturing or assembling energy efficient technologies or systems. Clean Energy Production Projects such as investments for the installation of solar energy, bioenergy, small wind power technologies, natural gas, gas conversions, geothermal or investments in leasing, manufacturing or assembling renewable energy technologies or systems. Other Projects such as working capital support, investments in machinery, equipment, facilities, business expansion and small-scale irrigation systems. Individual/Business Loan & Guarantee Amounts Minimum Loan Amount: J$ Loans 500,000 | US$ Loans 3,500 Maximum Loan Amount*: J$ 690M | US$5M Maximum Guarantee Amount**: J$345M | US$ 2.5M * Subject to 90% of the total project cost, whichever is lesser. ** Subject to 50% of the loan amount, whichever is lesser. Tenure Up to 15 years to repay. Moratorium 12 months on principal payments only where required. Interest Rate (variable) - As low as 6.5% on JMD loans - As low as 5% on USD loans What is needed 1. Financial statements 2. Valid Tax Compliance Certificate 3. Cash Flow Projections for the first twelve months with appropriate Notes and Assumptions. Ready to Grow? Text “USAID” to (876)383-1729 or speak with a business banker at your nearest NCB branch Conditions Apply