SME supplier credit

• Available to Jamaican SMEs to enhance exports
• Maximum: JMD 500,000
• Use of proceeds:
  - Purchase equipment
  - Improve and upgrade existing facilities
  - Working capital
  - Market research 
• Tenor: Up to 4 years (including 6-month grace period)
• Requirements:
  - Legal and operating entity in Jamaica producing goods or services  
  - Sectors: Exports, manufacturing, tourism and related services, creative industries, professional services, and mining and extraction industries
  - Business must have annual revenues of at most USD 360 million

Supplier credit 

• Trade credit insurance that protects Jamaican companies against non-payment by buyers
• Policy may be pledged as collateral for post-shipment working capital financing scheme at 80% of invoice value for a period up to 120 days  
• Eligible insured transactions:
  - Export sales
  - Domestic sales
  - Third country sale of goods originating outside of Jamaica, on behalf of Jamaican companies
  - Sale of goods only supplied by subsidiaries of Jamaican companies located and operating within CARICOM
  - Sale of goods trans-shipped from Jamaica’s duty-free zones to countries within the Caribbean region
• Cover:
  - Commercial risk up to 85% automatically provided with each policy
  - Political risk up to 90% available on request; coverage requires an additional premium
• Fees:
  - Composite premium rate is determined by buyers’ creditworthiness and country risk ratings
  - Premium rates range from JMD 0.54–JMD 0.60/JMD 100 of gross value of each shipment for commercial risks
  - Political risk cover is an additional fee in the JMD 0.03–JMD 1.45/JMD 100

Bankers export credit facility 

• Short-term working capital loan facility for exporters to help cash flow through EXIM Jamaica’s network of Approved Financial Intermediaries
• Eligibility: Jamaican exporter of locally produced non-traditional goods (tourism, manufacturing, agri-processing, mining, services, information communication and technology, and the creative industries)
• Pre-shipment:
  - Tenor: Up to 90 days on a revolving basis
  - Loan amount: Up to 100% of FOB value of an export order
• Post-shipment:
  - Tenor: Up to 120 days on a revolving basis
  - Loan amount: Up to 100% of the invoice value (including CIF)

FSMA loan window

• Available to exporters of food products to the United States that require new or upgraded food safety systems
• Use of proceeds
  - Upgrade existing facilities
  - Purchase new equipment
  - Conduct training
  - Technical Assistance
• Tenor:
  - Short-term: Up to 180 days
  - Medium-term: Up to 48 months, with maximum grace period of 6 months  
• Interest rates are competitive for the market in USD and JMD
• Collateral required 

Other products

• Small- and medium-sized tourism enterprises loan: For qualified entities in the tourism sector, tourism linkage networks, manufacturers, suppliers, and hotels
  - Loan amount: Up to JMD 25 million with a 5% per annum fixed interest, and up to a 12-month grace period on principal payments
  - Tenors: Up to 180 days for short-term loans; up to 5 years for medium-term loans
• Energy loan: For businesses seeking sources for energy to power up and maintain operations
  - Eligible borrowers include commercial and industrial companies, energy service companies, and manufacturers of energy efficient equipment and devices
• Receivables financing loan facility:
  - Loan with bullet payment for tourism related companies
  - Tenor: Short- and medium-term facilities
  - Qualified borrowers are ancillary and related to tourism (e.g., laundries, janitorial services, car rental companies, etc.)
  - Use of loan proceeds may be used to finance equipment acquisition and facilities refurbishment/upgrading