Applicant MUST be a small (10 persons) to medium (50 persons) enterprise.
SMEs should at a minimum be registered as sole traders. If not, there should be evidence that you have begun the process to formalize the business within a two (2) month period after application of the loan.
New enterprises MUST submit a feasible business plan for three (3)years. (This must be professionally done.)
There are clearly established market(s) for the goods and services to be generated by the enterprise
The entrepreneur has prior experience in the business he/she wishes to pursue; and/or
There is evidence that the entrepreneur has received some level of business management training from a tertiary institution or an acceptable business development service provider.
Existing enterprises must have an established performance history
All directors must provide individual TRNs
National Insurance Scheme (NIS) number for director(s)
Registration documents for the enterprise inclusive of Tax Registration Number (TRN)
Loans exceeding J$2M must have a current Tax Compliance Certificate (TCC)
Two (2) recent passport size photographs
Three letters of reference (from Justice of the Peace, Suppliers, Inspector of Police, Notary Public person etc)
Copies of utility bills for last six (6) months (Business & Home)
Financial Statements (Balance Sheet, Cash Flow, Income & Expense Report and Trading, Profit & Loss) – Year to Date – Prior year
Proof of Security:
Land – Mortgage on Real Estate (First Mortgage)
Cash Value of Life Insurance Policies
Equipment and Machinery
Deposit Account in other Organizations
“In Service To The Employees & Entrepreneurs of Jamaica"