Government of Jamaica

Loan Programme for MSMEs


Name of Entity: 
Development Bank of Jamaica (DBJ)

Brief Description: 

The product was designed to provide adequate and attractive JMD$ & USD$ loans to MSMEs in productive and service sectors, thereby assisting in addressing a critical financing gaps in the local market. The MSME lending facility was established in 2010. Viable starts -ups can also benefit from loan funding.

The interest rate on JMD$ funding ranges from 9.5%-10% on the reducing balance for up to 8 years. The loan limit for JMD$ is $100M. The interest rate on USD$ funding ranges from 7.25%-8.50% on the reducing balance for up to 10 years. The loan limit for USD$ is $5M. Rates may be fixed /variable. MSMEs benefit from 90% financing of the project cost.

The key features of the facility include: employment generation, foreign exchange earning/savings, promotion and expansion of business/industry, linkages, energy conservation and high utilization of local raw material.

Benefits: 

The loan facility targets MSMEs with Annual Turnover ≤ USD4M in varying sectors such as agriculture, agro-processing, manufacturing, energy, ICT, tourism, mining & quarry, services, retail & distribution, creative, BPOs.

Since the inception of the facility, 79,439 loans have been approved to MSMEs, totaling JMD$24.85 billion. This has resulted in investments of JMD$42.28 billion, and generated 22,477 projected new jobs.

Find Contact: 

Development Bank of Jamaica
11a – 15 Oxford Road
Kingston 5
Telephone: (876) 929-4000, (876) 619-4000
Fax Number:  (876) 929-6055
mail@dbankjm.com

Learn More: 

The Ministry

Welcome to the official website of the Ministry of Industry, Investment and Commerce.

The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.

We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.

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4 St. Lucia Avenue, Kingston 5, Jamaica
Telephone: (876) 968-7116 
Fax: (876) 960-7422 
Email: information@miic.gov.jm

Opening hours: 
Mondays - Thursdays 8:30 a.m. - 5:00 p.m.
Fridays 8:30 a.m. - 4:00 p.m.

 


The Ministry of Industry, Investment and Commerce - https://www.miic.gov.jm