Small business praises new loan facility

[Lazie]

The Small Business Association of Jamaica is encouraged by the Prime Minister’s announcement that more loans will be made available to the sector.

President Edward Chin Mook said the announcement is a relief to small and micro enterprises.
This year, the Development Bank of Jamaica will establish a special window for small and medium-sized enterprises to provide $1 billion in loans.

The money will be made available through approved financial institutions like PC banks and commercial banks and not directly from the Government.
The loans ranging from $500 thousand to $10 million will be for a maximum five years at an interest rate of 12.5 per cent.
Mr Chin Mook said this would go a far way in easing some of the hardships now faced by small and medium-sized enterprises.

Yesterday, Mr Golding also announced that this year, the Government would be launching the Youth Entrepreneurial Programme (YEP).
The programme will help school leavers to start their own businesses.
They will be provided with training in business management and start up capital at 10 per cent interest rates.

http://go-jamaica.com/news/read_article.php?id=8739

[gary4pharo]

I have been working with some spinning organization some years back. What I felt the stress the management was having was the only stress: How to pay the loans? It is one of the real pain that a business faces when paying the loans. Giving the profit to the companies. I my self never prefer adapting the loans.

[MissLondon]

I have been working with some spinning organization some years back. What I felt the stress the management was having was the only stress: How to pay the loans? It is one of the real pain that a business faces when paying the loans. Giving the profit to the companies. I my self never prefer adapting the loans.

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