BRROWERS FROM the National Development Foundation of Jamaica (NDFJ), can now access a maximum of $5 million under its Regular Loan Programme, up from the previous loan ceiling of $3.5 million, to finance small and medium-sized business projects in the services, agriculture and manufacturing sectors.
According to Mr. Billy Heaven, executive director of the NDFJ, "the decision to increase our loan ceiling was based on market research and economic indicators, which pointed us to a significant need among small business operators for more financial resources to sustain projects that fall within the business sector."
Mr. Heaven further stated that, "projects within the manufacturing and services sectors are especially in need of significant capital injection, because of the high capital expenditures that are associated with these sectors and we therefore implore entrepreneurs in the small business sector to take advantage of the availability of additional funds."
The NDFJ is a development bank that currently offers a variety of products and services, including regular loans, lease and venture capital financing and micro financing. Interest rates vary according to funding source and fall as low as 9.5 per cent for projects in the agricultural, agro-industry, manufacturing, mining and tourism sectors.
Technical and support services are also offered to clients, to provide guidance in areas such as book-keeping and time management.
More recently, the Foundation diversified its product and established a Training Institute which offers a range of courses to the public. A major focus of the Institute is centred around Information Technology, with courses such as beginners and advanced computer courses, computer repairs and floral arrangements.
