The ScotiaRunning Start business loan is great for SME start ups. This loan will allow you to:

• Secure new capital equipment.
• Get day-to-day working capital.
• Purchase inventory.
• Cover short-term cash needs and accounts receivable.
• Build business management capacity for better decision making capabilities.

Maximum / Minimum Loan Amounts

Scotiabank will finance up to 90% of the start-up costs, up to a maximum of J$7.5 million and a minimum of J$2 million.

Lending Criteria

The ScotiaRunning Start is intended for borrowers classified as small to medium sized businesses, and operating under 2 years. Businesses should not have more than 25 employees and J$105 million in annual projected revenues.

The following will be required:

• Submission of a business plan.
• Face-to-face presentation to a cross-functional Scotiabank team.

The decision will be communicated within 48 hours provided that the presentation meets the team’s criteria.

Interest Rates

The interest rate is fixed at 9.875% per annum.

Terms

The maximum term for loans granted under the Fund is 7 years. (A moratorium on principal will be considered for a period of up to 2 years with repayment in 10 semi-annual installments over 5 years as an option).¹

To find out more:

Speak with a Business Banking Officer at your nearest Scotiabank branch, or call our Contact Centre.

Apply today!

General Conditions

¹Conditions apply.