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JNSBL targets small-and medium-sized businesses with new loan plan
JN Small Business Loans Limited (JNSBL), a subsidiary of Jamaica National (JN), recently launched a new loan facility aimed at servicing the growing market for small-and medium-sized loans. Through the new loan facility, called Bizboost, small and medium business operators can access from $300,000 to $3 million at an interest rate of 10 per cent per annum. The maximum repayment period is four years including a moratorium of six months. According to Frank Whylie, JNSBL general manager, the market's response to Bizboost, which was launched in March, has been positive so far. "The response from the public has been encouraging, and several applications are now being processed," he said. Whylie said that business operators with assets not exceeding $12 million excluding land and buildings can benefit from this new loan facility.
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posted by Logan Adolfo at 8:28 AM
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