FinanceOpportunities | CE Intelligence

This loan is for persons/companies that produce food products for export to the USA and need to implement or upgrade their food safety systems. Yhis facility can be used to:

Upgrade existing facilities
Purchase new equipment
Conduct training
Technical Assistance. Execution of GAP analysis and implementation of new Food Safety systems.

Amount Lower Limit

Not Specified

Amount Upper Limit

Not Specified

Payback Period

180 days to 48 months

Security Required

Unless otherwise specified, a suitable mix of the following collateral may be accepted:

Bank Guarantees from the Bank’s Approved Financial Intermediaries (AFIs)
Bill of Sale on serialised equipment.
Mortgages over Real Estate, subject to inspection. A Surveyors Report (not older than 1 year) is required.
Hypothecation of Financial Instruments
Personal Guarantees of principal shareholders
Assignment of Key Man Insurance
Guarantors of acceptable net worth
Assignment of Receivables

Deposit Required

Currency

JMD

Qualification Criteria

Entities must have the productive capacity and be consistently producing. The following documentation is required:

Completed Application Form
Business Plan
Completed Investment Plan if applying online.
(a) Audited Financial Statements for the past three years prepared in Accordance with International Financial Reporting Standards (IFRS) along with Interim Accounts, for existing businesses. (b) Opening Balance Sheet for new businesses

Cash flow Projections for life of the loan, along with Supporting Assumptions (a) Certified copy of Articles of Incorporation or (b) Memorandum & Articles of Association

Copy of Certificate of Registration and Certificate of Change of Name where applicable
Completed Borrowing Resolution
List of Company Officers & Directors and specimen signatures of authorized signors of Company
Copy of Valid Tax Compliance Certificate.
Detailed descriptions of security(ies) being pledged. A copy of registered Certificate of Title is to be submitted where applicable. (Motor vehicles are not accepted as loan security)
Valuation Report (not older than 1 year) on machinery, equipment and real estate being pledged as security.
Bank Report(s).
Two (2) copies of certified identification one of which must be a photograph. Examples of photo IDs include passport, drivers’ license, voter registration identification card. Examples of non-photographic ID includes Debit Card, Credit Card, Employee ID.

(a) For privately owned companies -this is required for: (i) all shareholders whose shareholding exceed 25%, (ii) all directors, and (iii) all signing officers

(b) For sole traders – one of the id’s submitted may be a birth certificate, employee ID or TRN card

Pro forma Invoice/Commercial Invoice/Purchase order for items being purchased.
Trade/Credit References.

Evidence of Fire & Allied Peril iinsurance for the full replacement value of the assets(s) being pledged.
Export Order(s)/ Local Order(s)/ Letter(s )of Intent
WHERE APPLICABLE
Pre-Feasibility Study/Feasibility Study/Report on Feasibility of the project
Register of Shareholders
Company’s Annual Report
Relevant approval from NEPA, Town Planning Department and other agencies
Certification under the Modernization of Industry Programme administered by JTI (applicable to manufacturers accessing Medium Term facilities)
Certification under the Hotel Incentive Act (Applicable to Hoteliers)
Evidence of Contract(s)

Administrative Contact