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Presenter: Sonji Johnson Account Executive Loan Origination

Presenter: Sonji Johnson Account Executive Loan Origination. MISSION.

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Presenter: Sonji Johnson Account Executive Loan Origination

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  1. Presenter: • Sonji Johnson • Account Executive • Loan Origination

  2. MISSION The Development Bank of Jamaica provides opportunities to all Jamaicans to improve their quality of life through development financing, capacity building, public private partnership and privatization solutions in keeping with Government policy.

  3. WHAT DOES THE DBJ HAVE TO OFFER?

  4. TARGET MARKET • Viable enterprises/projects in the productive sector • Projects of varying sizes: micro, small, medium and large • Current emphasis on linkages, social inclusion

  5. Agriculture Agro-processing Energy Manufacturing Mining & Quarrying Services Tourism STRATEGIC SECTORS

  6. CRITERIA FOR DBJ LOANS

  7. LOAN PURPOSES

  8. DBJ RATE SHEET

  9. NATIONAL INSURANCE FUND ELIGIBILITY CRITERIA SME MUST PROVIDE: • SMES with revenues up to J$150M and employs up to 50 persons • Enterprise must at least be a Sole Trader • TRN • NIS • TAX COMPLIANCE CERTIFICATE – number and expiry date • BUSINESS REGISTRATION NUMBER AND DATE OF REGISTRATION – where applicable

  10. NATIONAL INSURANCE FUND OTHER TERMS MONITORING & IMPACT • INTEREST RATE TO AFI – 5.5%; RATE TO SME – 10.0% • SMES CAN BORROW UP TO $15M • MAX REPAYMENT TERM – UP TO 8 YEARS • MAXIMUM MORATORIUM PERIOD – 6 MONTHS • JOB RETENTION • INCREASED EMPLOYMENT • IMPROVED FINANCIAL PERFORMANCE • SME ACHIEVED ITS OBJECTIVES • SME CLOSER TO BEING SUSTAINABLE

  11. CREDIT ENHANCEMENT FUND FOR SMEs Benefits of the CEF Qualifying for CEF • Reduces risk of lending to SMEs • Supplements Available Collateral • Allows viable SMEs to access credit for expansion • Available to SMEs Only • Tax compliant • Project viability • Proven track record

  12. The DBJ will guarantee: • 50% of DBJ funded SME loans up to J$10M • 80% of Energy Loans up to a maximum of J$10M.(Conditions apply) • SME loans funded with the AFIs own funds - 50% of the loan up to J$5M CREDIT ENHANCEMENT FUND FOR SMEs

  13. APPLYING FOR THE CEF • Cover Letter • Completed CEF Application • Loan & Guarantee application done simultaneously (for DBJ funded facilitates) • AFI to provide quarterly reports for monitoring purposes

  14. ENERGY AUDIT GRANT • Available to businesses within the productive sector • Maximum of J$200,000 per audit – excess is borne by Client • We do not facilitate reimbursement for audits previously done

  15. ENERGY AUDIT GRANT PROCESS

  16. LOAN APPLICATION PROCESS

  17. DOCUMENTATION Application • Cover Letter • DBJ’s Loan Application Form • Copy of AFI’s Internal appraisal including financial statements • Sub-borrower’s TRN • TCC (over J$2M) • Copies of other relevant documents • ADMINISTRATIVE FEES • Commitment fees – 1% plus GCT • Prepayment penalty – Flat 3% plus GCT

  18. LOAN DISBURSEMENT

  19. QUESTIONS AND COMMENTS

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