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Small and Medium-Sized Tourism Enterprises (SMTE) Loan

SMTE Loan Facility

At EXIM Bank we recognise the important contribution that members of the Tourism sector and its Linkages make in creating jobs, earning foreign exchange and in economic development. The Tourism Enhancement Fund (TEF) has crafted this special loan facility to enable continued growth and sustainable development.

Borrow up to J$25 million at an interest rate of 4.5% per annum with up to 5 years to repay and up to 12 months moratorium on principal payments.

Get a 4.5% SMTE Loan today to:
• Upgrade or Increase your room capacity
• Enhance & Expand your Attractions, Tours & Events
• Finance Infrastructure Development & Maintenance

Who can benefit?
The SMTE Loan Facility is open to qualified entities within the Tourism Sector, the Tourism Linkages Networks and to Manufacturers and Suppliers to Hotels. Some of the categories covered include:
• Small Accommodations
• Attractions, Domestic Tours, Bike & Car Rentals
• Gastronomy – Coffee shops & Restaurants
• Produce Suppliers to Hotels
• Shopping, Galleries
• Sports & Entertainment
• Manufacturers & Suppliers of goods & services to the tourism sector

How do I qualify for a SMTE Loan?
Businesses must fall in one of the sectors/networks identified and must be in operation for at least 2 years to qualify for funding. Applicants must prove that they provide goods/services to the Tourism Sector and that 25% of their revenues are generated from services to the Sector.

Additionally, all applicants must demonstrate that loan funds will enable their operations to contribute to the expansion of local tourism and generate economic growth and sustainable development.

Will I have to provide collateral?
Yes. Acceptable collateral includes all negotiable securities e.g. mortgages on real estate, bills of sale on large saleable serialised equipment, cash hypothecations, bank guarantees, assignment of receivables, etc.

Loan Tenure:

Upon meeting the eligibility requirements, beneficiaries can access either Short-Term and Medium-Term loans.

Short-Term Loans: Get up to 180 days to repay

Medium Term Loans: Get up to 5 years to repay

Apply directly to the EXIM Bank.  You can start your application online at [2] or speak with a Credit Officer at our office.

Purpose of Loan: