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TYPE OF BUSINESS WE SUPPORT
- Wholesale/Retail Trade
- Hairdressing/Barbering
- Education
- Repairs & Servicing
- Information Technology
- Tailoring/Dressmaking
- Hotel/Guest House
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- Communication
- Transportation
- Restaurant
- Entertainment
- Photography
- Fitness
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How to start
Group and individual loans
Our loan amount and loan terms
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- Own and operate a business for at least six months.
- Must be a Jamaican citizen residing in Jamaica.
- Be between the ages 18 – 60 years old.
- Have a valid I.D. e.g. Voter’s ID, passport or drivers licenses.
- Have a taxpayers registration number (TRN)
- Provide two passport size photographs.
- Be willing to open two savings accounts at The Bank of Nova Scotia,
for the purpose of making loan payments and compulsory savings.
- Compulsory savings is built into the program of 1% - 1.5% per week of the principal borrowed.
- Administration fee of $10 charged for new clients only.
- Must provide copies of paid utility bills, sales invoice, simple business plan (
cash flow projection) and pro-forma invoice for fixed asset purchase.
- Provide two character reference letters from reputable professionals - Must be addressed to MEFL
and the other is a BNSJ form that can be collected at any of our branches.
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