The South Coast Resort Board asked a representative from The Development Bank of Jamaica Limited to give a presentation explaining the loans now available to both businesses and the private sector at the last meeting. The following is information from this presentation.

The website is www.dbankjm.com with the loan programs outlined here http://www.dbankjm.com/loans-through-afis

The DBJ will lend up to 70 percet of the cost for large projects.

For small and medium-sized enterprises (SME), the DBJ will lend up to 90 percent of the project cost.

Interest rates:
The DBJ offers attractive interest rates on loans denominated in both
Jamaican and United States dollars. Interest is charged on the reducing balance and is fixed for the life of the Jamaican-dollar loans.

We were told in the meeting the interest rate was 9.5% JA interest and 5.75% USD interest for businesses and 9.5% fixed rate for households with up to 2 million JA available per household.

80% collateral is guaranteed by the DBJ loan.

I am posting this information for those interested. Please direct any questions to the folks at DBJ at mail@dbankjm.com. Phone: 876/929-4000 or 876/619-4000.