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We provide you the loan. You get down to business. 
The Scotiabank SME Development Program helps you secure your business loan at an attractive fixed interest rate. Scotiabank is committed to the growth of the Small and Medium-sized Enterprise (SME) sector in Jamaica and has established the Scotiabank SME Development Programme to further stimulate the business activities in the country.
The Programme, through the Scotiabank branch network, lends from a pool of funds to assists SMEs. The Programme which began with a pool of $400 million has been exhausted. However, members of the MSME Alliance are still able to access the following funding.
ScotiaMSME Alliance Fund
The Scotiabank MSME Alliance Fund, which is part of the Scotiabank SME Development Programme launched in September 2008, is now available for access by registered members of the MSME Alliance. The Scotiabank SME Development Programme is providing loans at concessionary rates to small and medium sized businesses for the purpose of starting up, as well as, for the improvement of business operations for entities that are already in operation. The Scotiabank MSME Alliance Fund by its very nature refers ONLY to businesses already in operation.
The Fund can be accessed through our branch network and will provide financing from a pool of $100 million, to facilitate the financing of Small and Medium-sized Enterprises (SMEs) that are members within the MSME Alliance.
TARGET:
The facility is intended for borrowers who are classified as small or medium sized businesses. As a guideline, businesses should not have more than 25 employees and J$135 million in annual revenues.
MAXIMUM AND MINIMUM LOAN AMOUNTS:
The maximum loan which will be granted is $5 Million and the minimum is $500,000 per business.
ACCEPTABLE PROJECTS:
A business loan from the ScotiaMSME Alliance Fund will allow customers to:
- Secure new capital equipment
- Secure day-to-day working capital
- Purchase inventory
- Cover short-term cash needs and accounts receivable
- Build business management capacity
Facilities granted for approved projects under this programme will attract fixed interest rates ranging from 8.625% to 12.125% per annum.
Conditions Apply.
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