What is it and How does it work?
Business lending includes commercial mortgages (loans used to purchase buildings), equipment lending, and loans intended for expansion. Loans will have a fixed term and the interest rate applied can be either fixed or variable. Capital and interest repayments will be scheduled over the term of the loan.
The main providers of loan finance to the SME/Start-Up sector are the banks (listed below). While there is much talk about the amount of loan finance being made available to the SME/Start-Up sector the banks confirm they are very much open for business.
Loan Finance -Short & long term loans
Access Financial Services Limited
Access Financial Services Limited was established in 2000 and listed on the Junior Market of the Jamaica Stock Exchange in 2009. Access is one of the premier providers of loans to Jamaica’s Microfinance Sector. Access provides both personal and business loans island-wide through a retail network of seventeen (17) branches. The company’s head office is located at 41B Half-Way Tree Road, Kingston 5.
Need to jump start your business? Why not let us help you? Finding the right borrowing option can help manage your business finances and achieve your financial goals.
Proactive Financial Services Limited
Proactive Financial Services Limited (PFS) is a micro-financing institution providing loan funding for various activities and to diverse people. PFS envisions assisting its customers by providing cost effective and high quality financial services that address their needs and build their capacity.
PFS focuses on implementing top-class, priority service to achieve operational efficiency and to continuously improve its staff competencies and capabilities.
JN Small Business Loans Limited
“JN Small Business Loans Limited (JNSBL) is a wholly owned subsidiary of the Jamaica National Building Society
JNSBL believes fully in the spirit and innovativeness of Jamaicans and is committed to delivering affordable credit in a timely manner to assist entrepreneurs who have limited access to credit from traditional banking sources to achieve their potential.
Using the most modern and cutting edge technology, as well as best practices, to promote accessibility and efficiency, JNSBL has, since the year 2000, transformed the lives of thousands of Jamaicans by driving the creation and maintenance of thousands of jobs through the disbursement of loans valued at billions of dollars.
We believe in an organization that gives you more because you add value to their business every day – thankfully, they feel the same way. Our Special Staff Loans allow you to access your personal loan through your organization. It’s your gateway to making that next step brought right into your workplace.
First Union Financial Group LTD
The company’s management and infrastructure have evolved and continue to do so with growth in its business volume. The present Board of Directors includes persons embodying a complementary blend of skills, with over fifty years of cumulative experience in entrepreneurship, business management, accounting and law.
Bull Investments LTD
Bull Investments Limited started operating in October 2008. Our objective is to deliver innovative accessible credit and financial guidance, in a timely and profitable manner to individuals and small businesses who have limited access to loans from traditional lending sources.
Our vision is to position the organization in such a way that it will contribute to the sustained growth and development of small businesses and individuals while increasing our client's productivity and improving their economic and social status.
We also specialize in assisting small business owners, or potential startup companies needing hands on assistance with business planning.
RBC Royal Bank
Today, we have a presence in 17 countries and territories across the Caribbean, stretching from the Bahamas in the North to Trinidad and Tobago in the South, serving over one million clients. Our Caribbean headquarters are based in Port-of-Spain, Trinidad.
We are gradually transitioning to the RBC brand across the Caribbean region, which may represent a change in your jurisdiction website. Please use the country locator below to go to the website of your banking choice.
Mayberry Investments Limited
Established in July 1985, by the late Maurice Berry, a former Deputy Governor of the Bank of Jamaica, Mayberry initially concentrated on trading shares on the Jamaica Stock Exchange. However, significant investment opportunities soon emerged in Jamaica’s fixed income market and the Company participated actively in the development of this market, especially in Government of Jamaica Treasury Bills and Local Registered Stock.
SURE Financial Services LTD
SURE is dedicated to putting Jamaican’s financial needs first. Our goal is to set the highest standards for customer service, convenience and quality financial products and services. We aim for A+ customer satisfaction.
Whether you need a payday loan, Personal Loan, Micro Business Loan, Insurance Premium Financing, Vehicle Repair loan, help with your taxes, help to register your business, business plans and advice etc., SURE is here to serve you.
Worldnet Investment Company Ltd.
Welcome to Worldnet Investment Company Ltd. Worldnet Investment Company Limited is one of the leading micro financing companies with the best loans in Jamaica that has been in operation since 1997. At Worldnet we seek to foster a spirit of professionalism through courteous and efficient customer service. Worldnet currently offers several different types of loan solutions to suit our client’s needs from our 17 locations island wide. We offer quick, simple, accommodative and same day loans in Jamaica to public and private sector workers, with flexible payment plans.
Niche Financing Limited
Niche Financing Ltd located at 96 Constant Spring Road, Kingston 10 has been in existence from May 2004 - Need a QUICKLOAN in a hurry?
McKayla Financial Services LTD
McKayla Financial Services specializes in hassle free loans at affordable interest rates for individuals, companies and small businesses. We provide more than a service, we offer you a solution. If you have a financial problem, we are sure that we can assist you. We are a MFI of DBJ and an unlender for the MIDA funds.
First Heritage Co-operative Credit Union Limited
On August 1, 2012, Churches Co-operative Credit Union and GSB Co-operative Credit Union merged to form the new entity First Heritage Co-operative Credit Union Limited (FHC). This decision culminated the process of discussions that began in October 2010 when the idea of the amalgamation of the two Credit Unions was born.
With a combined heritage of over 100 years, First Heritage Co-operative Credit Union Limited now stands as the largest open bond Credit Union in Jamaica. A merger of this magnitude was the first of its kind in the history of the Credit Union movement.
Credit Unions of Jamaica
Credit unions provide members with a suite of financial products and services to meet their members' needs. Click on the product of your choice to learn more.
St. Thomas Cooperative Credit Union
Providing Credit Union members with financial services of the highest quality to enhance their social and economic well-being.
St Catherine Co-operative Credit Union
The history of the Credit Union Movement is undoubtedly one of the most inspiring and reassuring chapters in the story of mankind.
The Credit Union idea was born more than a century ago in the mind and heart of the great Friedrich W. Raiffeisen, the then Mayor of a small German town. The movement began in the early 1850’s.
The Credit Union idea which moved across Europe to North America, came to Jamaica and to St. Catherine.
EduCom Co-Operative Credit Union
The Mission of EduCom Co-operative Credit Union is to improve the quality of life of its members and their families, through the provision of personalized financial solutions and advice; delivered by a motivated, competent and committed team of Staff and Volunteers.
Manchester Co-operative Credit Union
The Manchester Co-operative Credit Union (1977) Limited is committed to maintaing a safe, visible and efficient financial institution; by providing innovative and competitive products and services in a warm and friendly environment to enhance the economic and social well-being of our members.
NAJ & Health Service Co-Operative Credit Union
In 1976, a group of nurses thought that if they pooled their resources and formed a co-operative, they would be able to satisfy some of their economic needs. The group’s expectation became a reality on August 5, 1976, when NAJ Co-operative Credit Union Limited became a registered entity.
The Credit Union was established to promote thrift among its members by affording them an opportunity to accumulate their savings; to create a source of credit for provident or productive purposes at a reasonable rate of interest and to provide the opportunity for members to use and control their money for their mutual benefit.
UWI (Mona) and Community Co-Operative Credit Union
A Credit Union is an association of people who unite and pool their financial resources to own and control a financial organization. This organization provides financial services to meet their common needs, including loans at low interest rates. As a co-operative, the members who are the owners elect committees to oversee the operations of the credit union on their behalf.
Portland Co-Operative Credit Union
The Portland Co-operative Credit Union is the family financial institution, wholly owned by Portlanders and operated to meet their needs.
The Credit Union is developed on the principle of people pooling their resources, and working together to help one another, for the economic and social development of every citizen and the community of Portland.
The Credit Union programmes satisfy the needs of the very young to the very old. The programmes start at the Children’s Savings Plan and end with the Senior Citizen Savings Plan and Family Indemnity Plan.
St Elizabeth Co-Operative Credit Union
The St. Elizbeth Co-operative Credit Union was established in the 1970’s by businessmen Standford Birthwright and Trevor Myers who identify the need for thrift and a source for loan funds for the social and economic development for the town of Santa Cruz. Its first location was on the building of Mr. Birthwright. The Credit Union was registered on March 21, 1972 by the Registrar of Co-operative and Friendly Societies. The Board later expanded the operations to the entire parish.
Montego Bay Co-Operative Credit Union
Montego Co-operative Credit Union’s story is one of challenges and triumphs; one of dedication and determination. It is a story that speaks of an odyssey sprinkled with landmarks of courage, personal sacrifice, industry and an unshakeable commitment to succeed.
Montego was formed by the amalgamation of St James and St Paul’s Credit Unions and was registered on the 31st December 1969. The move was intended to consolidate and fortify both co-operatives which were ‘limping along’ as single entities. Despite the challenges, by utilizing the wisdom in hindsight, we have been able to capitalize on our gains and strengths and overcome losses and weaknesses.
First Regional Co-Operative Credit Union
First Regional Co-operative Credit Union Ltd in its pursuit of excellence obtained the following awards:
Parish Credit Union with the Highest Return on Assets 2012.
Most Improved Solvency 2011.
Most Outstanding Parish Credit Union 2005-2010.
Mega Credit Union of the Year 2006 and 2009.
St. Ann Chamber of Commerce "Cooperate Award" for 2008.
COK Sodality Co-operative Credit Union Ltd.
COK Sodality Co-operative Credit Union Ltd. (COK), formerly City of Kingston Co-Operative Credit Union Ltd., was incorporated in October 1967 to serve the financial needs of its members in Kingston and St. Andrew. Over the years COK has evolved into a solid, safe and financially secure, financial services institution well known for its high level of innovativeness in the Credit Union Movement.
COK is headquartered in Kingston; serving members across Jamaica through its network of Branches in Kingston & St. Andrew, St. Catherine, Mandeville and Montego Bay. COK also serves its members who reside overseas in North America, the UK, Grand Cayman, and other parts of the Caribbean.
Jamaica National Building Society
From as early as 1864, the concept of the Building Society was introduced to Jamaica to assist working and middle class people to realize their dream to own their own homes. In the ensuing years, a number of Building Societies sprung to life and in the year 1865, an Act for the Regulation and Encouragement of Benefit Building Societies was passed. The Jamaica National Building Society (JNBS) is the product of a series of mergers pioneered by the Westmoreland Building Society. Today, Jamaica National is ranked among Jamaica’s largest financial institutions offering a blend of financial services and mortgage plans to customers living in Jamaica, the United States of America, the United Kingdom, Canada and The Cayman Islands.
First Global Bank Ltd
First Global Bank Limited (FGB) is a commercial bank operating in Jamaica, originating in 1970 as The First National Bank of Chicago (Jamaica) Limited. That organization later changed ownership and was renamed First Jamaica National Bank Limited. That institution was acquired on March 26, 1993, as a joint venture between Trafalgar Development Bank with 51% of the shareholdings and Grace Kennedy & Co. Ltd. (since renamed GraceKennedy Limited) having 49% of the shareholdings. It was then renamed Trafalgar Commercial Bank Limited (TCB).
CIBC FirstCaribbean is a major Caribbean bank offering a full range of market-leading financial services in Corporate Banking, Retail Banking, Wealth Management, Credit Cards, Treasury Sales and Trading, and Investment Banking. It is the largest, regionally-listed bank in the English and Dutch speaking Caribbean. The bank has over 2,700 staff, 59 branches, 22 banking centres, and seven offices in 17 regional markets.
Sagicor is a dynamic, indigenous Group which has been redefining financial services in the Caribbean. Following a carefully crafted business strategy, the company transformed from a local single-line life insurance company to a financial services group with a solid regional base, before expanding into the international financial services market.
JMMB Merchant Bank Ltd
The success of your business depends not only on your business performance but on your ability to manage your assets. JMMB MB’s team of qualified corporate relationship managers will take the time to understand your company’s financial needs and respond by outlining a comprehensive set of solutions.
AIM Financial, INC
Our team is committed to providing our clients with the highest quality financial services combined with the lowest rates available in your area. Our outstanding mortgage professionals will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs. Whether you are purchasing your dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced team of loan officers can help you find the right loan program at the lowest rate no matter what your needs are. Our ultimate goal is to create lasting relationships with each of our clients so that we may continue providing excellent service for many years to come. Unlike many of the larger nationwide mortgage companies that are out there, all your information will be kept secure and private.
Whether you’re opening a chequing account or expanding your business reach, we’re here to help you uncover opportunities. Scotiabank Jamaica provides innovative financial products and services to individuals, small and medium-sized businesses, and large corporations across the country.
Inter-America Development Bank
We work to improve lives in Latin America and the Caribbean. Through financial and technical support for countries working to reduce poverty and inequality, we help improve health and education, and advance infrastructure. Our aim is to achieve development in a sustainable, climate-friendly way. With a history dating back to 1959, today we are the leading source of development financing for Latin America and the Caribbean. We provide loans, grants, and technical assistance; and we conduct extensive research. We maintain a strong commitment to achieving measurable results and the highest standards of increased integrity, transparency, and accountability.
For more than 50 years, Citi Jamaica has offered key services to its clients since it was founded in 1960. Citi Jamaica offers Corporate Investment Banking services, such as Cash Management, Treasury, Trade Finance, Corporate Finance, Loan and Liquidity products to a customer base that is comprised of more than 150 multinational corporations and their local subsidiaries, financial institutions, large local companies, as well as public sector and government institutions. Citi Jamaica introduced a trading platform to facilitate corporate clients to execute FX trades via an electronic platform while improving efficiencies in their confirmation and settlement processes.
Victoria Mutual Building Society
Victoria Mutual began operations with The Victoria Mutual Building Society which was first opened its doors in 1878. Our founders, a group of Clergymen, led by then Rector of the Kingston Parish Church, Reverend G.W. Downer, formed The Victoria Mutual Building Society (VMBS) with a vision of "meeting the needs of the deserving thrifty". VMBS' founding fathers had a goal of finding a way to partner with industrious, but financially excluded Jamaicans, to assist them with savings and home acquisition.
LASCO Financial Services Limited
LASCO Financial Services Limited (LFSL) is a leading provider of retail financial services. fFounded in 2004 by renowned business leader and philanthropist Lascelles Chin, who is recognized by Jamaicans as an outstanding business leader, exporter and philanthropist. LFSL’s which has provided over 10 years of exceptional service to the Jamaican people, operates a suite of services includes currency exchange, cambio and remittance (with the notable position as number one agent for MoneyGram International in Jamaica), bill payment, consumer loans as well as micro & small business loans. As an approved DBJ lending partner, the company’s flexible and empathetic approach to lending have helped a number of Jamaican micro entrepreneurs build wealth for themselves and create employment for others.
National Export-Import Bank Jamaica
The National Export-Import Bank of Jamaica (EXIM Bank) is Jamaica’s premier trade financing institution and the Caribbean’s first Export-Import Bank. It plays a fundamental role in national development by providing a wide range of financing instruments at competitive interest rates for the country’s productive sector. It aims to assist in the growth of this sector and to contribute to the development of the wider national economy.
Development Bank of Jamaica
The Development Bank of Jamaica Limited is a corporation that is wholly owned by the Government of Jamaica and is mandated to foster economic growth and development of strategic sectors of the Jamaican economy.
It was created in April 2000, from the merger of the Agricultural Credit Bank of Jamaica Limited and the National Development Bank of Jamaica Limited. The operations, assets and liabilities of the National Investment Bank of Jamaica (NIBJ) were further amalgamated with the DBJ on September 1, 2006.
Micro Credit Limited
Micro Credit Limited (MCL) is an independent Micro Finance institution established in 2003 with a mission to serve the low end of Jamaica's microfinance market in a sustainable manner. Our long term vision is to help build economic self sustainability through our loans while improving the lives of our clients.