At EXIM Bank, we understand the demands of Jamaica’s exporters. So, the Modernization Fund was designed to meet the upgrading and retooling needs of businesses in the Export Sector and linkage companies providing support to this Sector.
Purpose of Loans
Funds are for the acquisition of capital equipment for retooling, refurbishing, upgrading and efﬁciency improvement to enhance export competitiveness. Financing is available for both new and used equipment.
• A maximum of ﬁve (5) years with provision for a moratorium on principal payments for up to one year.
• A graduated repayment plan including ballooning can also be negotiated.
Who can apply?
The programme is open to any company registered and operating in Jamaica that is engaged in export; otherwise earns foreign exchange and/or has a link to the Export Sector. Participants are required to show evidence that they are certiﬁed under:
• The Hotel Incentives Act or
• The Car Rentals Concession Scheme