NCB pledges $3 billion in year 1 of DBJ small business credit facility

, NCB pledges  billion in year 1 of DBJ small business credit facility

Friday, November 29, 2019

National Commercial Bank (NCB) has committed $3 billion in the first year of the Development Bank of Jamaica (DBJ) redesigned Credit Enhancement Fund (CEF) for small businesses, which was launched last week.

The revamped CEF is a partial loan guarantee programme that helps small businesses without enough collateral accessing loans from Approved Financial Institutions (AFIs). AFIs like NCB will now accept non-traditional collateral and provide loan coverage based on the borrower’s character and the future cash flow of the business rather than actual collateral.

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