We at Sagicor Bank understand that as a small business owner you have special funding needs. When it comes to financing, we know that you would require some amount of predictability with regards to rates and terms, in addition to flexibility as to when and how you access funds. Most of all, we understand that you need affordable lines of credit that would not erode your bottom line. The Sagicor Bank SME USD-Line was developed with your needs in mind.
What is the Sagicor Bank SME USD-Line?
Sagicor Bank has made available a total of US$10M to assist in the development of the small and medium sized business segment in Jamaica, in an effort to enhance its contribution to the economic development of our country. This facility is geared towards providing financial support to the export and productive sectors, including, although not limited to, manufacturing, agro-business and tourism.
Who Can Qualify
To be eligible to access funds under this facility, you must be:
- a registered Jamaican business entity
- a small or medium sized operation with annual revenues of US$500,000 or less
- an employer of less than 250 persons
- an exporter or earner of foreign exchange
- in operation at least 3 years
What are the terms?
The Sagicor Bank SME USD-Line:
- is available for trade financing, business expansion and upgrade of existing facilities
- provides access to between US$50,000 and US$250,000
- offers incredibly low rates, fixed for a period of one year from the date of offer
- has a maximum tenor of 5 - 7 years on demand loans
- is available by way of revolving line of credit and/or a demand loan facility on a fully secured basis
- provides an optional 12-month moratorium on principal repayment for business expansion and upgrade
*All loans subject to normal due diligence. Conditions Apply.
- Fees may apply, so please check our fee guide