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MSME Recovery Loan

Jamaica

The Ministry of Finance and the Public Service in partnership with the Development Bank of Jamaica has allocated J$3B under the SERVE Jamaica programme for financing support to MSMEs. The DBJ SERVE Programme acts as a catalyst for the recovery of local economic activity by assisting businesses that have been adversely affected by the COVID-19 pandemic.

The programme consists of three products, namely the DBJ MSME Recovery Loan. The Government of Jamaica has provided an additional J$2B through the DBJ’s MSME Recovery Loan which serves to enable lenders to reduce the debt service burden for MSMEs with viable projects that are either seeking to expand, pivot or refinance high-cost debts. The loan is available to all sectors through participating financial institutions.

The DBJ is also willing to facilitate a maximum grace period on the principal of up to 12 months. DBJ will fund up to 90% of the project cost however the MSME must provide a 10% contribution. If you are in need of more than $10 million to assist your business to recover, consult your preferred financial institution and once an agreement is reached and the J$11.1 million has been exhausted from all three offerings under the SERVE Jamaica programme, you may either apply for another DBJ loan or seek the balance from their Financial Institution.

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

The loan is available for:
• Working capital
• Debt consolidation or refinancing of high-interest business loans
• Purchase of real estate for use by the business
• Expansion of business
• Digitization of business
• Business credit cards

Refinancing of:
• Business loans
• Overdrafts
• Credit card business debt

Documents Required

Tax Compliance Certificate (TCC)

Application Process

The loan is accessible through the application at all of DBJ's participating financial institutions.

Other Information

All commitment, processing and administrative fees/charges are at the discretion of the financial institution. Furthermore, all applicants are also able to access the VTA programme.
As for the submission of the TCC, you may submit 90 days after the approval of the loan application.

Development Bank of Jamaica

Development Bank of Jamaica

The Development Bank of Jamaica provides opportunities to all Jamaicans to make a positive impact on their own quality of life. They do this through providing development financing, capacity building, public-private partnership and privatisation solutions, which are in line with Government policy and future goals.

11A - 15 Oxford Road Kingston 5, Jamaica W.I

Phone Number: (876) 929-4000; (876) 619-4000

Fax Number: (876) 929-6055

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