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This loan is available for projects that demonstrate a net economic benefit to the country through any combination of the following general development criteria: employment creation , foreign exchnage earnings and savings, facilitation and/or stimulation of foreign direct investments, expansion of export capacity, diversification of an existing industry, utilisation of local inputs, demonstate long term financial viability, demonstate the ability to repay the DBJ's loan, lead to development of management skills and technological know-how, indicate strong market demand for their products and/or services, demonstate the ability to meet projected demand targets, capital will constitute no more than 20% of the DBJ's loan, unless it forms part of the development project, the DBJ will not lend money for refinancing and land acquisition. The DBJ will finance large, strategic development projects in the following established sectors: Tourism (attractions, accommodations, health tourism, eco-tourism); Agriculture and Agro-processing/Agri-business; Manufacturing; Mining; Infrastructure & related services (Power, water, sewage etc.); Energy/alternative energy solutions; Information and communications technology.
All loans are to be secured by any combination of the following securities: debentures supported by mortgages over real property, bills of sale over equipment and other fixed asssets; assignment of leases; contract revenues; shares; insurance policies; personal guarantees of the prinicipals; hypothecation of cash.
Where the DBJ co-finances a project or participates in syndicated lending, the DBJ must share a first charge on the relevant collateral on a pari-passu basis with the other lenders.
Requirements:
Be registered and operating in Jamaica.
Have majority Jamaican ownership (up to 75%). However, Well-documented exceptions could be made however, to allow for the consideration of projects that represent a compelling case for national development.
Must not be a sole proprietorship.
Demonstrate sound management practices and capability.
Be current with all statutory deduction payments evidenced by a Tax Compliance Certificate (TCC).
Be current with property taxes (where applicable).
Disclose all its associated companies and subsidiaries.
Possess effective internal operational control systems.
Edison Galbraith, General Manager of Loan Origination and Portfolio Management
Email: mail@dbankjm.com
If DBJ is the sole lender, the Bank will lend a maximum of 70% of the overall project cost. Where projects are co-financed or DBJ participates in a syndication the DBJ will lend a maximum of 65% of the project cost not financed by other financial institutions. Stakeholder’s equity must be no less than 30% of the total project cost. DBJ will not accept sweat equity as part of a company’s contribution to the cost of the project.
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