The mission of the National Export-Import Bank of Jamaica (EX-IM) is to provide the financing and financial support mechanisms necessary for the export and import of goods, commodities and/or services between Jamaica and foreign countries, agencies or nationals, with the objective of enhancing the export earnings of the country. EX-IM facilities are accessed through approved commercial banks and other financial institutions.

Scotiabank Jamaica is an EX-IM-approved financial institution, and we can help you access financing from EX-IM through our island-wide network of branches.

• Bankers Export Credit Facilities (BECFs) offer both pre- and post-shipment financing in local currency to exporters of non-traditional goods

• Post-shipment Financing: Exporters may receive financing of up to 80% of the cost, insurance and freight (CIF) invoice value of a shipment already made for a maximum loan period of 120 days
• Pre-shipment Financing: Exporters may receive financing of up to 65% of the Free on Board (FOB) value of an export order for a maximum loan period of 90 days
  
  
Small Business Facilities provide working capital financing to small businesses engaged in the production of goods and services for the domestic market or for both the domestic and export markets. Loans are available for a maximum of four (4) years, and interest is calculated on the reducing balance. The borrower must satisfy at least one of the following criteria:


• Net assets not exceeding JA$5 million
• Total sales for the last financial year not exceeding JA$25 million
• Not more than 50 full-time employees
  
  
• Modernization Funds for Exporters provide financing for the acquisition of capital equipment and for retooling, refurbishing, upgrading and implementing efficiency improvements to enhance export competitiveness. A maximum of JA$25 million may be borrowed for a maximum loan period of five (5) years with provision for a twelve (12) month moratorium on principal payments
  
  
• Lines of Credit offer short-term trade financing. Several foreign lines of credit are available to facilitate payments to overseas suppliers for raw materials, capital goods, technology and spare parts that are being imported for productive purposes
  
  
• Payments may be made through letters of credit or by direct transfer of funds to the suppliers
• The credit period ranges from 90 to 180 days
• Borrowers have the option of repaying in either local or foreign currency
  
  
• Cuban Lines of Credit allow exporters of Jamaican manufactured goods to Cuba to receive payment immediately upon presentation of shipping documents to EX-IM
  
  
• Goods must satisfy the 35% local value added content stipulated by EX-IM, and must be included on the list of eligible goods agreed upon by Jamaica and Cuba
• Once the parties to the contract have agreed to the terms, the Cuban importer will contact the Banco Nacional de Cuba and request that the transaction be financed under the line of credit
  
  (All invoices must be stated in Canadian dollars, and shipping documents must include a Certificate of Origin issued by JAMPRO)
  
  
• Export Credit Insurance covers Jamaican exporters against the risk of non-payment by a foreign buyer. It reduces the risk faced by Jamaican exporters as they break into new markets and expand into existing ones
  
  
• The policy covers 85% of commercial risk and 90% of political risk; the insured bears the remaining risk
  

For more information on EX-IM facilities, please visit the EX-IM web site at http://www.eximbankja.com.