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Classic Guarantee – ECPCGC

Small Business

Lending Solutions

BOSL / ECPCGC Guaranteed Loan Solutions

Classic Guarantee – ECPCGC

all the bank you need

Funds can be used for: Working Capital, Inventory Purchases, Investment, Expansion, Overdraft (Revolving Credit)

Loan maximum: $750,000
Guarantee %: 75%
Guarantee maximum: $562,500
Equity required: 25%
Collateral required: 25%
DSR (DSCR) :1.25: 1
Term of the guarantee: Same as the term of the loan

Eligibility Requirements:

Annual Revenue of less than $2,000,000
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 two (2) years
25% Equity Contribution

Here is what you will need:

Your Business Registration Documents.
Full Details of your Project .
Financial Statements.
- Income Statements (at least two [2] years)
- Balance Sheet (at least two [2] years)
- Cash Flow Projections (up to five [5] years)
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 $750,000 the maximum loan amount or the maximum guarantee amount?

$750,000 is the maximum loan and the maximum guarantee is $225,000.

Is there a penalty for early repayment of a loan?

There is no penalty for early repayment of a loan.