SMEs urged to capitalise on low interest loans
The National Development Bank of Jamaica (DBJ) is urging small- and medium-sized enterprises (SMEs) in key sectors to come forward and take advantage of low interest loans to finance their operations.
The DBJ says loans of up to $100 million are available at fixed interest rates of between 9.5 and 10 per cent for agricultural, agro-processing, renewable energy, and manufacturing projects.
DBJ Accounts Executive Everton McFadden says other sectors, including mining, services and tourism, also qualify for low interest loans.
McFadden says the development bank will also assist SMEs that are having difficulty meeting collateral premium with as much as 50 per cent of their amounts.
The loan funding can be accessed through approved financial institutions such as commercial banks, credit unions, and the National People’s Cooperative Bank.
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