The DBJ channels loan funding primarily through AFIs, whose roles include:

  • Evaluating the financial strength and creditworthiness of project promoters and determine its willingness to extend the requested credit.
  • Establishing the terms, maturity and security/collateral requirements to satisfy its credit determination.
  • Providing regular supervision of the project through site visits.
  • Managing the loan account and liaising with the client.

LIST OF DBJ’s APPROVED FINANCIAL INSTITUTIONS

Click here to show/hide more content ...

  • Scotiabank Jamaica Limited
  • CIBC First Caribbean International Bank
  • First Global Bank Limited
  • National Commercial Bank Jamaica Limited
  • Sagicor Bank Jamaica Limited
  • Sagicor Investments Jamaica Limited
  • National People’s Cooperative Bank of Jamaica Limited
  • National Export-Import (EXIM) Bank Jamaica
  • JMMB Merchant Bank Limited JMMB
  • Citibank N.A.
  • Mayberry Investments Limited
  • Jamaica National Building Society
  • JN Fund Managers Limited
  • Credit Union Fund Managers
  • COK Sodality Cooperative Credit Union
  • First Heritage Cooperative Credit Union (FHCCU) Limited
  • Palisadoes Cooperative Credit Union
  • NCB Cooperative Credit Union
  • Jamaica Defence Force (JDF) Cooperative Credit Union

GENERAL ELIGIBILITY FOR DBJ AFIs LOANS

 

DBJ’s approval will be conditional on projects being considered for loans meeting the following criteria:

  • Business must be registered and operating in Jamaica.
  • The project should be financially viable & technically feasible
  • Enterprises should be tax compliant
  • The project will make a positive contribution to the economic development by:
    • Employment generation
    • Foreign exchange earnings and/or savings
    • Promotion of new businesses and expansion of existing enterprises for economic growth
    • Creating linkages with other sectors
    • Facilitating energy conservation
    • Facilitating high utilization of local raw materials

Click here to show/hide more content ...


The DBJ will finance 70-90% of the Project cost
EXCLUSIONS

  • Purchase of Land/Buildings (N.B. – The DBJ lending programme does not facilitate finance real estate / mortgage projects)
  • Acquisition of Businesses/Shares in a business
  • Refinance

STRATEGIC SECTORS

The DBJ’s aim is to facilitate the growth and development of all viable enterprises in the Jamaican economy which includes:

  • AGRICULTURE
  • AGRO-PROCESSING
  • ENERGY
  • INFORMATION TECHNOLOGY
  • INFRASTRUCTURE
  • MANUFACTURING
  • MINING
  • SERVICES
  • TOURISM
  • RETAIL AND DISTRIBUTION

LOAN PURPOSES:

  • Construction of structures (such as buildings and pens)
  • Establishment of crops and livestock enterprises
  • Expansion or modification of structures
  • Purchase of machinery and equipment
  • Purchase of moveable fixed assets
  • Working capital
  • Rehabilitation/Renovation of existing enterprises
  • Energy conservation, efficiency and renewable energy
  • Tourist attraction and wellness projects

 

Click here to show/hide more content ...


PRIMARY TARGET GROUP

Micro, Small & Medium-sized Enterprises (MSMEs)

  • DBJ defines MSME enterprises as those with annual sales less than J$425M

 

ENTERPRISE CATEGORIES

 

Enterprise Size No. of Employees Total Annual Sales / Turnover
Micro ≤ 5 ≤J$10 million
Small 6 – 20 > $10 million ≤ J$50 million
Medium 21 – 50 > J$50 million ≤J$150 million
Medium Plus 51 – 150 > J$150 million ≤J$425 million
Large >150 >J$425 million

 

INTEREST RATES

The maximum interest rates to project beneficiaries will depend on the prevailing rates at a particular point in time.  Interest is charged on the reducing balance and is subject to annual review. Currently, interest rates range from 9.5% -10% to the sub-borrower.