Country trade data

• Available to Jamaican SMEs to enhance exports
• Maximum: JMD 500,000
• Use of proceeds:
• Purchase equipment
• Improve and upgrade existing facilities
• Working capital
• Market research
• Tenor: Up to 4 years (including 6-month grace period)
• Requirements:
• Legal and operating entity in Jamaica producing goods or services
• Sectors: Exports, manufacturing, tourism and related services, creative industries, professional services, and mining and extraction industries
• Business must have annual revenues of at most USD 360 million

• Trade credit insurance that protects Jamaican companies against non-payment by buyers
• Policy may be pledged as collateral for post-shipment working capital financing scheme at 80% of invoice value for a period up to 120 days
• Eligible insured transactions:
• Export sales
• Domestic sales
• Third country sale of goods originating outside of Jamaica, on behalf of Jamaican companies
• Sale of goods only supplied by subsidiaries of Jamaican companies located and operating within CARICOM
• Sale of goods trans-shipped from Jamaica’s duty-free zones to countries within the Caribbean region
• Cover:
• Commercial risk up to 85% automatically provided with each policy
• Political risk up to 90% available on request; coverage requires an additional premium
• Fees:
• Composite premium rate is determined by buyers’ creditworthiness and country risk ratings
• Premium rates range from JMD 0.54–JMD 0.60/JMD 100 of gross value of each shipment for commercial risks
• Political risk cover is an additional fee in the JMD 0.03–JMD 1.45/JMD 100

• Short-term working capital loan facility for exporters to help cash flow through EXIM Jamaica’s network of Approved Financial Intermediaries
• Eligibility: Jamaican exporter of locally produced non-traditional goods (tourism, manufacturing, agri-processing, mining, services, information communication and technology, and the creative industries)
• Pre-shipment:
• Tenor: Up to 90 days on a revolving basis
• Loan amount: Up to 100% of FOB value of an export order
• Post-shipment:
• Tenor: Up to 120 days on a revolving basis
• Loan amount: Up to 100% of the invoice value (including CIF)

• Available to exporters of food products to the United States that require new or upgraded food safety systems
• Use of proceeds:
• Upgrade existing facilities
• Purchase new equipment
• Conduct training
• Technical Assistance
• Tenor:
• Short-term: Up to 180 days
• Medium-term: Up to 48 months, with maximum grace period of 6 months
• Interest rates are competitive for the market in USD and JMD
• Collateral required

• Small- and medium-sized tourism enterprises loan: For qualified entities in the tourism sector, tourism linkage networks, manufacturers, suppliers, and hotels
• Loan amount: Up to JMD 25 million with a 5% per annum fixed interest, and up to a 12-month grace period on principal payments
• Tenors: Up to 180 days for short-term loans; up to 5 years for medium-term loans
• Energy loan: For businesses seeking sources for energy to power up and maintain operations
• Eligible borrowers include commercial and industrial companies, energy service companies, and manufacturers of energy efficient equipment and devices
• Receivables financing loan facility:
• Loan with bullet payment for tourism related companies
• Tenor: Short- and medium-term facilities
• Qualified borrowers are ancillary and related to tourism (e.g., laundries, janitorial services, car rental companies, etc.)
• Use of loan proceeds may be used to finance equipment acquisition and facilities refurbishment/upgrading
• Business advisory services
• Energy solutions business loan:
• Medium-term loans for SMEs looking to procure solar energy solutions
• Loan between minimum of JMD 5 million to JMD 50 million
• Interest rate of 7.5%

• Companies involved in production of traditional goods (sugar, bananas, bauxite, and alumina) are not eligible for financing

• An SME must qualify for one of the below:
• Total sales (annual turnover) less than JMD 1 billion
• Number of employees is less than 250
• Total fixed and current assets are less than JMD 300 million

• Facilities offered in JMD and USD

• KYC policy includes disclosure of shareholders with over 25% ownership and other standard requirements

• 2023: Jamaica Exim Bank launches solar energy solutions business loan