Financing (Loans)

NEDCO’s Small Business Financing service is geared towards supporting micro, small and medium size enterprises in achieving their business’ goals. Our loan process assists clients to be financially capable and competitive, whilst ensuring their business operations are compliant with the requirements specific to their sector.

We provide financial services for a wide range of businesses with the exception of primary agriculture, gambling and the purchase of alcohol. Select either the Loan Application or Loan Discussion buttons to start the process of meeting your business’ financial needs and becoming a NEDCO client. Over the last twenty-two (22) years we have assisted thousands of entrepreneurs to establish, build and expand their businesses and we look forward to helping you do the same.

Discuss Your Loan Options
Learn about the Micro and Small Business Grant

Current Loan Offerings

  • Double Up For Success Loan Promotion
  • 50/50 MSE Loan Promotion
  • Insurance Loan
  • Refinancing Loan
  • NEDCO Vehicle Loan
  • Standard Loan
  • CNG EcoDriver Loan Promotion

Frequently Asked Questions

Should I apply for a loan to finance my business?

Success of your business depends primarily on your access to financial support. At NEDCO, our Business Relationship Officers will discuss the viability of your business to determine the most suitable financing options for your business needs

What types of business does NEDCO finance?

NEDCO offers financial support to most types of businesses except:

  • Primary agriculture: Crop cultivation, animal husbandry and fishing
  • Real estate development: Construction/Renovation of private/commercial dwellings for rental/resale
  • Gambling and related activities: Casino, Member’s club
  • Alcohol Retail: Bars

What is the maximum amount I can borrow?

NEDCO offers loans UP TO $250,000 for first time borrowers and UP TO $500,000 for repeat borrowers.

* All loans are subject to normal lending criteria.

What is NEDCO's Interest rate?

Our interest rate on all loans is 8%.

What is the maximum repayment period for a NEDCO loan?

The maximum repayment period is:

  • General Loans - 5 years
  • Stock Loans - 3 years
  • Maxi Taxi Loans - 6 years

Can I get a moratorium (grace period) on my loan?

Yes. Businesses can receive up to three (3) months grace period. Your Business Relationship Officer will discuss with you during the application process.

Can NEDCO Loans be granted for personal use or to pay off debts?

NO. Loans can ONLY be granted to registered businesses to purchase stock, equipment, motor vehicles or conduct repairs/renovation towards a business venture. NEDCO will not consolidate debt from other financial institutions, statutory bodies or individuals.

How will the loan funds be disbursed?

Loan funds will be directed to the account of the supplier(s) of the goods / services based on the quotations and invoices you supply. However, exceptions are made for regional / international purchases. Your Business Relationship Officer will discuss options for disbursement of funds.

How can I pay my installments?

Loans and fees can be repaid via:

  • Cheques and debit cards ONLY at NEDCO offices
  • Online bank transfer
  • Bank deposits at any First Citizens Bank
  • Bill Express
  • Our website

Are there any fees or penalties associated with prepayments?

No, there are no penalty fees for early repayment of NEDCO loans.

Why borrow from NEDCO?

As the National Agency responsible for Micro and Small Enterprise Development, NEDCO offers a full suite of entrepreneurial support services. When you borrow from NEDCO you gain access to Entrepreneurial Development Training and Mentorship services tailored to YOUR specific needs.