Financial Institutions
Business
Credit Unions
Communal Co-operative Credit Union Ltd . H A Blaize Street Tel : 473-440-1755 Fax : 473-440-7545 Email : comcreditunion @ spiceisle . com Website : www . thecommunalcu . com
GUT Credit Union St . John ’ s Street Tel : 473-440-1354 Fax : 473-435-6950 Email : gutcu @ spiceisle . com Website : www . gutcu . com
Grenada Public Service ( Co-op ) Credit Union 906 Church St , St . George ’ s , Grenada , W . I . Tel : 1 473 440 1759 , Fax : 1 473 440 8051 Email : info @ gpscu . org Website : www . gpscu . com
• Provide small loans for all aspects of viable business . As well as Loans from EC $ 500 to $ 30,000 interest rate range from 8.5 - 9 % Maxi mum repayment period – 4 years
• Must be between the ages of 21 – 60 years
• Must be a member of the Credit Union
• 20 % Cash deposit required
• Technical assistance to start-ups
• Financial advisory and counseling service
• Flexible repayment schedule
• Business Management expertise available
• Up to 80 % financing
• Easier access to other loans
• No minimum limit to lend
• Interest rate 12 %. All other terms and conditions are negotiable . Criteria : Must be a member of the Credit Union .
• Gain access to easy financing
• Surplus is distributed to members as dividend
• Excellent member service Land Loans - Maximum of 10 years . Medical Loans - 20 % of the requested loan amount held in your regular shares account Vehicle Loans - 15 % of required amount held in your regular shares . House Loans - with flexible mortgage options Vacation Loans - 20 % of the amount you are requesting in your regular shares
MICROFIN Bruce Street , St . George ’ s Tel : 473-435-4355 Fax : 473-435-4626 Email : agriffith @ microfin . org Website : www . microfin . org Source of Funding : DSL Caribbean Group
National Development Foundation Lucas Street , St . George ’ s Tel : 473-440-5506 , Fax : 473-440-6644 Email : ndf @ spiceisle . com Source of Funding : USAID ( grant ), GDB & ICDF Taiwan ( loans )
Grenada Youth Enterprise Initiative Programme Ministry of Youth Development Prime Minister ’ s Ministry Ministerial Complex , Botanical Garden , St . George ’ s Officer at GDB Tel : 473-2255 / 2265 / 2383 Fax : 473-440-4116 Source of Funding : Government of Grenada
Micro-financing Agencies
• Provides business loans for existing micro-enterprises for equipment , raw materials , tools and commercial building improvement
• Loans from EC $ 1,000 to $ 135,000 for Micro Business at 16 % interest
rate on the declining basis . Criteria : Integrity , honesty and reputation are important criteria used in assessing applicants
• Provide loans for small businesses and the micro-sector
• Accounting assistance
• Training courses in the sewing
• There is no set limit for funding Interest rate is 14.75 %
Criteria : Must be between the ages of 21 – 60 years . Any tangible Security . Must have a business plan
• Provides financing and guidance for young people to become self employed . It aims to provide meaningful employment through the facilitation of easy access to credit financing for enterpring young people with legal , viable project ideas and proposals . Loans from EC $ 500 to $ 25,000 Interest rate range from 6 % Maximum repayment period 1 – 5 years Maximum grace period – 6 months . Criteria : Must be between the ages of 18 – 35 years , Security . Must have a business plan
ScotiaBank Halifax street , St . George ’ s , Tel : ( 473 ) 440-3274 , Fax : ( 473 ) 440-4173 Email : bns . grenada @ scotiabank . com , Website : www . grenada . scotiabank . com
Grenada Co-operative Bank Ltd . Church Street ,, St . George ’ s , Tel : ( 473 ) 440-2111 , Fax : ( 473 ) 440-6600 , Email : info @ grenadaco-opbank . com , Website : www . grenadaco-opbank . com
Republic Bank Grenada Ltd . Melville Street , St . George ’ s Tel : ( 473 ) 444-2265 , Fax : ( 473 ) 444-5501 Email : info @ republicgrenada . com , Website : www . republicgrenada . com
RBTT Grenada Corner of Cross and Halifax Street , St . George ’ s Tel : 473-440-3521 , Fax : 473-440-4153
First Caribbean International Bank ( FCIB ) Church Street ,, St . George ’ s , Grenada , P . O . Box 37 , St . George ’ s , Grenada W . I . Tel : 473-440-3232 , Fax : 473-440-4103
Grenada Development Bank Melville Street , St . George ’ s , Tel : 473-440-2382 , Fax : 473-440-6610 , Email : gdbbank @ spiceisle . com Source of funding : Caribbean Development Bank ( CDB ), European Investment Bank ( EIB ) and Government Equity
Banks
Offers a full range of services to large , medium and small businesses . From corporate and investment banking services , business solutions for small and medium-sized enterprises , to tailored packages for selfemployed professionals .
• Some of these services includes : Deposit Accounts : Chequing Account , Savings Account , Borrowing : Credit Line , Term Loans , Overdraft protection , Cash Management Services : Information Reporting , Direct Deposit , Wire payments Loans from EC $ 5000 to $ 480,000 . Interest rate range from 9 ½ % -13 %.
Grenada ’ s only indigenous commercial High street Bank .
• Provides loans for all aspects of business and provide the following facilities for business persons : Credit Line , Over draft facilities , Debit and Credit cards . Loans from under EC $ 500 to $ 480,000 interest rate range from 9½ % - 13 %.
• Commercial Business Services , Electronic Banking Services , Trade Finance , Corporate Services , Working Capital Financing , Capital Expenditure Financing , Credit facilities , Credit Card , Commercial Property Mortgages
• RBTT provide loans for all aspects of business and provide the following facilities for business persons : Chequing Account . Over draft facilities . Debit and Credit cards . Internet banking All projects are tried differently base on security provided , type of loan and amount to be borrowed . Interest rate range from 10½ % - 13 %.
• Provide loans for all aspects of business : Chequing Account . Over draft facilities . Debit and Credit cards . Internetbanking . Loans amount vary base on the specific needs of the customer . Interest rates range from 10½ % - 13 %.
• Provide micro-sector loans for all aspects of business . The loan may cover up to 90 % of the cost for new projects and up to 100 % of the estimated cost for expansion . Business name registration . Loans from EC $ 1,000 to $ 25,000 interest rate range from 10 % - 12 % Maximum repayment period – 6 years Maximum grace period – 1 year All applicants must satisfy the following conditions : Owner managed . Less than
25 employees . Less than 4000 sq ft of manufacturing area . Less than $ 135,000 investment in equipment . Less than $ 337,500 in total annual sales
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