features and benefits
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.
For more information on our SME USD-Line please contact our Business Banking Centre at 960-7288.