FinanceOpportunities | CE Intelligence

The BizBoost loan assists small and medium-sized businesses engaged in value added activities to acquire fixed assets (except real estate) and working capital. Loans will be made to individuals or registered entities (Sole Proprietorship, Partnership or Registered Company) but loans of $2 million and over will require the possession of a valid tax compliance certificate.

These funds are geared towards value added services or manufacturing oriented ventures such as those involved in the fashion/garment industry, craft, tour transportation, professional services and light manufacturing. Agriculture and agro-processing ventures are also eligible.

Amount Lower Limit

$1,000,000.00

Amount Upper Limit

$5,000,000.00

Payback Period

Maximum 5 years

Security Required

Collateral accepted:

Real Estate
Motor Vehicle
Equipment used in business
Hypothecation of Deposits
Third party guarantee

Deposit Required

Currency

JMD

Qualification Criteria

Requirements:

COMPANY

Certified copy Certificate of Incorporation
Certified copy Articles of Association
Certified copy of TRN of the Company, its Directors and Managers
NIS Number of the Company & Directors/Managers
Resolution to Borrow

PARTNERSHIP

Certified copy Business Registration Certificate
Partnership Agreement
NIS & TRN number for Partnership
TRN for Partners & NIS numbers

SOLE TRADER

Business Registration Certificate/ Registered farmer with RADA, (Letter from RADA)
TRN and NIS numbers for the Owner of the Business

OTHER REQUIREMENTS

Financial Statements for the last three (3) years
Copy of the latest Tax Compliance Certificate (TCC) for loans above $2 million
Personal Statement of Affairs (Form is provided by JNSBL and is attached herewith)
A Certificate of Good Standing from the Registrar of Companies (For Companies only)
Credit Report from present Bankers + 1 other recommendation
Two (2) Certified Passport Size Photographs for directors/managers
Identification (National ID/Driver’s License/Passport) for directors/managers
Pro-forma Invoices of the items to be financed
Last three (3) months Bank Statements
Completed Application Form (Form is provided by JNSBL and is attached herewith)
The submission of a business plan is advisable

Administrative Contact