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Working Capital Guarantee- ECPCGC

Small Business

Lending Solutions

BOSL / ECPCGC Guaranteed Loan Solutions

Working Capital Guarantee- ECPCGC

all the bank you need

Funds can be used for: - Working Capital needs to get businesses back to normal.

Offer Period: Until February 2024
Loan maximum: $200,000
Guarantee %: 80%
Guarantee maximum:$160,000
Equity required: 10%
Collateral required: 20%, with sinking fund
DSR (DSCR): 1.10 :1
Term of guarantee: 5 years
Age of Business: less than 2 years
Moratorium of principal: 1 year

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 two (2) years
10% 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 $200,000, the maximum loan amount or the maximum guarantee amount under the Working Capital Programme?

Under the Working Capital Programme, $200,000.00 is the maximum loan and the maximum guarantee is $160,000.00.

Is there a penalty for early repayment of a loan?

There is no penalty for early repayment of a loan.