In celebration of our 125th Anniversary in Jamaica, we are pleased to announce Scotiabank's 125th SME Loan Fund of $500 million to provide support to Jamaica's productive sector and encourage the growth of Small Medium Enterprises.
Loans will be made to Jamaican businesses in the productive sector, with the aim of stimulating employment, generating exports, and replacing imports.
Secured: 9.50% p.a.
Unsecured: 11.50% p.a. (unsecured).
DURATION OF FUND
Deadline for submission of Application: March 31, 2015.
|TERMS SPECIFIC TO THE 125TH ANNIVERSARY FUND:|
|Amount:||Five Hundred Million Jamaican Dollars (J$500 million)|
|Maximum/Minimum||Jamaican dollars fifteen million (J$15 million)|
|Lending:||secured Jamaican dollars two million (J$2 million) unsecured.|
|Type of Entity:||Borrowers must be private sector businesses with no more than US$4 million in annual revenues|
Discount on Commitment Fee and Waiver of Review Fees*.
ELIGIBLE INDUSTRIES & BORROWERS
Businesses involved in manufacturing, agro-processing, tourism, and creative industries.
We are pleased to be able to show our gratitude and support to Jamaican businesses in this manner.