SAVING MONEY AND THE ENVIRONMENT
With the constant increase in energy costs to the Tourism, Manufacturing and Productive sector, we at the EXIM Bank believe that the use of alternative renewable energy sources can significantly improve business processes, efficiencies and overall operating costs.
EXIM Bank listens keenly to the requests of our market and it is our duty to answer the call. Our EXIM Bank Energy Loan is the answer. The desire to provide energy solutions that work is what fuels the ‘EXIM Energy Loan’. The EXIM Energy loan is geared at providing cost saving energy solutions to small and medium-sized businesses.
WHY YOUR BUSINESS SHOULD INVEST IN RENEWABLE ENERGY?
There are several advantages to installing solar panels on a business. Besides using a renewable energy source like the sun, you’re going to get an excellent financial return on your investment over a relatively short time. Solar panels are worth it for businesses for the financial savings alone. Other benefits include:
- Cuts overhead costs
- Has future longevity
- Continuous financial returns
- Environmental returns
- Creates energy independence
If you are a Small or Medium Sized Business operating in Jamaica you can access EXIM Bank’s Energy Loan today:
- Tenure: 7 Years repayment
- Interest Rate: 7.5% per annum
- Loan Amount: Up to JM$50 million
- Purpose Of the Loan: EXIM Bank’s Energy Loan will fund up to 85% of the purchase and installation of equipment at the business location.
WHAT ARE THE REQUIREMENT?
To access the loan, due diligence processes must be undertaken to ensure your business is qualified for the loan. The following documents and requirements are to be obtained in full to commence the application process:
- Completed Application Form
- Business Plan
- Company Documentation
- Financial Reports (Last 3 audited Financial Statements, Cashflow Projections, PFSA)
- Credit Bureau Report
- Adequate and Acceptable Security
- AML/KYC Documentation
- Proof of Use of Funds (Invoice or Proforma)
- The proforma invoice from the supplier must reflect the installation address which must be the operating location of the Client (Client must show evidence that property is owned or leased).
- Provision of formal agreement for acquisition and installation of solar equipment
- Annual valuations of equipment is required.
- 15% deposit must be in place prior to issuance.
- Energy audit from registered Energy Auditor for loans in excess of $40M is required
- Energy Assessments from member of Jamaica Renewal Energy Association, Registered Engineers, Accredited Organizations for Energy Audits/Assessments eg UTECH or Energy Audit from Certified Energy Auditor, Registered Engineers, Accredited Organizations for Energy Audits/Assessments eg UTECH