Exim Bank earmarks $100 million to assist SMEs expansion online – Jamaica Gleaner

The National Export-Import Bank of Jamaica (EXIM Bank) has earmarked $100 million for an e-commerce fund to assist small and medium-size enterprises (SMEs) in expanding their businesses online.

Through a partnership with the Jamaica Manufacturers and Exporters Association (JMEA), the ‘EXIM Ecommerce Funder’ will finance up to 80 per cent of the associated costs of critical inputs for SMEs which are in the process of or are interested in trading through an e-commerce platform.

The facility offers up to $5 million per entity, at a rate of five per cent per annum.

It is a medium-term, non-revolving, secured loan, with up to three months moratorium on the principal repayments, where required.

During the launch on Friday at the EXIM bank’s headquarters on Hope Road, St Andrew, Business Development Consultant, Winston Lawson, said while there are “vast and potentially impactful advantages” of operating a business in the virtual space, the inputs that drive sales may require funding.

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Read Full Story: https://jamaica-gleaner.com/article/news/20220919/exim-bank-earmarks-100-million-assist-smes-expansion-online

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