Blue Smoke

Easi Biz Line

Jamaica

The Easi Biz Line loan is geared towards members wanting to re-tool or expand their businesses. You can borrow as much as ten million ($10,000,000) on a revolving line of credit. All forms of security are accepted for this loan, except motor vehicles.

FUNDS

US$500,000 - US$500,000

INTEREST RATE

12%

INDUSTRIES

Eligibility

ANNUAL REVENUE

US$500,000 - US$500,000

REQUIRES COLLATERAL

4 YEARS

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Qualifications

Must have a Debt Service Ratio (DSR) of 35%
Must have a Total Debt Service Ratio (TDSR) of 45%

Documents Required

Pre-Interview:
• 2 Current Pay Slips (last two)
• Permanently employed for six (6) months or One Year renewable contract

Interview:
• Proof of Business Registration
• Tax Compliance Certificate
• TRN Card - Business
• TRN Card - Personal
• Resolution to Borrow (from Directors)
• Business Plan including Cash Flow Projections for two years
• Proof of Ownership of Assets
• Income Verification Letter (If member has changed employment since the last loan; if member is still employed to employer on file then verification is done priot to disbursement of the loan proceeds.
• Last Three (3) Years Audited Financials, Bank Statements & Tax Returns or Letter from Chartered/Public Accountants (Self Employed Applicant)
• Valid form of Identification (Driver's Licence, Passport, National ID)
• Collateral Documentation - All types except Motor Vehicle; (refer to SOP - Collateral)
• Proof of Address - (Utility Bill, Bank Statement)
• Credit Reference (first-time borrowers)
• Passport size photograph (first-time borrowers)
• Ordinary Share Requirement - (refer to Policy)
• Permanent Share Requirement - (refer to Policy)
• Fee Invoice
• Member Information Update Form

Disbursement:
• Reference Verification (name, address, telephone number etc.)
• Stamped Salary Deduction Form
• Access Card
• One Month's Payment held in Insurance Processing Account

Application Process

The application process will involve an interview with a representative from the credit union. If the applicant is successful, a disbursement process is also conducted for the receipt of funds.

Other Information

Conditions apply for this loan.

First Heritage Co-operative Credit Union Limited

First Heritage Co-operative Credit Union Limited

First Heritage currently serves over 200,000 members through a network of eleven locations island wide, offering a wide array of products and services specifically designed to meet the needs of their members at every stage of their lives. First Heritage is powered by the commitment to generate continual benefits for their members and other stakeholders.

8-10 Eureka Road, Kingston 5

(876) 381- 9830
(876) 421-1078
(876) 355-9433
(876) 498-0384

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