Funds can be used for: Working Capital, Inventory Purchases, Investment, Expansion, Overdraft (Revolving Credit)
- Offer Period: Until February 2024
- Loan maximum: $100,000
- Guarantee %: 80%
- Guarantee maximum: $80,000
- Equity required : 10%
- Collateral required: 20%, with sinking fund
- DSR (DSCR): 1.10 :1
- Term of guarantee: 10 years
- Age of Business: 3 months to 2 years
Eligibility Requirements:
- Annual Revenue of less than $2,000,000 Million ECD
- Employ less than 50 persons
- Adequate Cash Flow to repay loan (1.25:1 debt coverage ratio)
- Business must be in operation for at least three (3) months
- 10% Equity Contribution
Here is what you will need:
- Your Business Registration Documents.
- Full Details of your Project.
- Financial Statements, Cash Flow Projections or some form of financial record.
- National Insurance Company & Inland Revenue Department Clearances.
- Supporting Documentation which include but are not limited to:
- Your Identification
- Invoices
- Bank Statements
Frequently Asked Questions
What is the purpose of the Partial Credit Guarantee Scheme?
ECPCGC provides partial credit guarantees to lenders so that MSMEs who do not have sufficient collateral but have a good project and the ability to repay, could now qualify.
Can someone have a guarantor?
Guarantors are acceptable. They must provide a Statement of Affairs during the application process.
Are guarantees granted to start ups?
Startups are now accomodated under the new Start Up Fund programme. A minimum period of three (3) months in operation is required in this instance.
Is there a penalty for early repayment of a loan?
There is no penalty for early repayment of a loan.
Need more information!
For more information schedule an appointment with one of our SME loans officers listed below.
Email sme@bankofsaintlucia.com or Sign Up Now.
Bank of Saint Lucia SME Officers near you:
Bridge Street & Waterfront
Godwyn Ishmael
godwyn.ishmael@bankofsaintlucia.com
456-6116
Cyrstah Dantes
cyrstah.dantes@bankofsaintlucia.com
456-6133
Gros Islet
Larius Descartes
Larius.Descartes@bankofsaintlucia.com
456-6031
Shana St. Cyr
shana.st.cyr@bankofsaintlucia.com
456-6025
Soufriere & Vieux Fort
Elsa St. Ville
elsa.stville@bankofsaintlucia.com
456-6416