The Tourism Enhancement Fund (TEF) Loan Scheme is specifically designed for individuals, partnerships and companies, (including new businesses)
This product is offered to individuals who have been in business for at least one or more years...
BizEvent Loans are given to assist with expenses relating to upcoming events (including Valentines Day...
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Thelma Yong, Credit and Risk Assessment Manager at JN Small Business Loans Limited (JNSBL), speaks with Denese Palmer, Farmer and Chief Executive Officer of Southside Distributors Limited in St. Elizabeth. Ms. Palmer was the guest speaker at a town hall meeting organised by JNSBL at the Junction Assembly of God in Junction, St. Elizabeth. The meeting provided farmers with information on how they may access funding to expand their enterprise to the tourism sector.
Since its establishment in the year 2000, JN Small Business Loans Limited (JNSBL) has disbursed 274,393 loans valued at approximately $13 Billion. During the last fiscal year, 34,623 loans were disbursed valued at $1.9 Billion. This represented a decline in the number and value of loans disbursed over the previous year as the small business sector continued to grapple with economic challenges facing the country and the ramifications of the social upheaval in May 2010. However, in spite of this, JNSBL’s revenue amounted to $467.4 Million and the company returned a profit of $9.1 Million.
During the year JNBSL fortified its partnerships with key entities to create entrepreneurial opportunities to assist the sector to grow and stimulate employment. In addition to its suite of easy-to-access products, the company strengthened its relationship with the Tourism Enhancement Fund in February 2011, launching a new loan product targeted at suppliers to the tourism industry. The new TEF loan provides access to funding of up to $5 Million to industry participants.
The microfinance company also maintained its partnership with the Development Bank of Jamaica (DBJ) and the National Insurance Fund (NIF), distributing an additional $5.2 Million and $25.5 Million respectively in loans from funds provided by both institutions to the small business community.
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