Go-Digital Loan
Jamaica
The Government of Jamaica, through the Ministry of Finance and Public Service, has provided J$1B through the DBJ’s MSME GO-Digital Loan to boost the adoption of cutting-edge technology among MSMEs in Jamaica.
The purpose of the loan is to :
• Acquisition of laptops, smartphones and portal POS machines
• Acquisition and training in software including cloud infrastructure
• Digital transformation services
• E-commerce
• Digital payment solutions
• Cyber security
• Digital productivity tools
• Digital business applications such as accounting software, HR and payroll system
A maximum grace period on the principal of 3 months may be facilitated where the project plan justifies it. The DBJ will fund up to 90% of the project cost with the MSME providing a 10% contribution. This programme is accessible through our participating financial institutions.
If you are in need of more than $800,000 to digitally transform your business, consult your GO-Digital service provider, you may do one of the following:
• Pay the difference
• Apply for another DBJ loan
• Seek the balance from their preferred financial institution
Business Registration documentation is now a pre-disbursement condition and not a pre-approval requirement. Under the Voucher for Technical Assistance (VTA) programme, MSMEs may access 100% up to J$250,000 for business plans and financial statements.
FUNDS
US$500,000 - US$500,000
INTEREST RATE
12%
INDUSTRIES
Eligibility
ANNUAL REVENUE
US$500,000 - US$500,000
REQUIRES COLLATERAL
4 YEARS
Qualifications
MSMEs affected by COVID-19
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
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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