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The Technology Innovation Centre and the National Export-Import Bank of Jamaica Limited (Exim)entered into a partnership on Friday, March 3, 2004 at the Ministry of Finance offices. The GG was present.
The Exim Bank will make available to TIC's ICT start-ups short term loans from a fund of $20Million. Loans will be granted to incubated tenants for fixed assets which include new and used equipment, commercial vehicles, staffing and IT solutions.
Borrowers will be eligible for loans ranging from $250,000 up to a ceiling of $500,000 for first time borrowers and up to a ceiling of $1 Million for repeat borrowers. A fixed interest rate of 12% will be applied on a declining balance. Short term loans will spread over 12 months and a moratorium of up to 3 months applied on principal payments only.
Most recent news events
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2004-03-18
- Technology Innovation Centre partners with National Export-Import Bank of Jamaica Limited
Download
PDF file - The TIC featured in a story about
business incubation
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Most recent press releases
2004-03-17
- Lee Chin pledges US1M to TIC
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2004-03-03
- Technology Innovation Centre/Exim Partnership
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