{"id":907,"date":"2020-05-24T23:46:25","date_gmt":"2020-05-25T03:46:25","guid":{"rendered":"https:\/\/sme.theuxcaribbean.com\/?page_id=907"},"modified":"2023-03-27T09:55:52","modified_gmt":"2023-03-27T13:55:52","slug":"about-the-loan","status":"publish","type":"page","link":"https:\/\/uxc.dev\/smeloans\/about-the-loan\/","title":{"rendered":"About the loan"},"content":{"rendered":"\t\t
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About the SME Stimulus Loan<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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An initiative of the Government of Trinidad and Tobago business support<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Activate Your Business Recovery<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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FROM THE \nGOVERNMENT OF \nTHE REPUBLIC OF \nTRINIDAD AND TOBAGO<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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About the SME Stimulus Loan <\/strong><\/h2>

The Government of the Republic of Trinidad and Tobago is providing support to Small and Medium Enterprises (SME) to reinforce the SME sector\u2019s position as an integral part of the economy.<\/p>

The guarantee provided by the Government of the Republic of Trinidad and Tobago represents 80%\u00a0of the loan amount.<\/p>

Who can apply?<\/strong><\/h2>

Applications are open to all non-energy, for profit business entities with annual revenues of TT$ 500,000 to TT$25 million with a minimum of five employees.<\/p>

Applicants must provide evidence of sales.<\/p>

How much can you borrow?<\/strong><\/h2>

Up to a maximum of $1,500,000 to finance, working capital, purchase of inventory \/ raw materials and *fixed assets.<\/p>

*Special conditions apply.<\/p>

Terms of the loan<\/strong><\/p>

The loan can have a maximum term of 10 years with a 2-year moratorium on Principal Payments Only, for loans with a tenor of more than 5 years. Interest will be paid on a monthly basis customer. <\/strong><\/p>

This facility will be subject to a full credit analysis.<\/p>

Other loan criteria<\/strong><\/h2>

The Borrower certifies:<\/b><\/p>

  • It intends to continue to operate its business or to resume operations.<\/li>
  • It generates its revenues from the sales of goods or services.<\/li>
  • It is not an entity owned by individual(s) holding public nor political office.<\/li>
  • It will not use the proceeds to repay other borrowings.<\/li>
  • It will not use the proceeds to repay any Director\/Shareholder Loans.<\/li>
  • It will not use the proceeds to declare a Shareholder Dividend.<\/li>
  • It will not use the proceeds to purchase residential property or any financial assets or products or vehicles for personal use.<\/li><\/ul>


    The following pre conditions are also applicable:<\/b><\/p>

    • The Borrower is a business operating and incorporated in Trinidad and Tobago with a minimum of five (5) employees;<\/li>
    • The Borrower is a going concern and is not delinquent or in Default in respect of any loan lent by any financial institution according to such financial institution\u2019s credit and collection policy. For the avoidance of doubt, an applicant for a loan under the Scheme shall not be in arrears on any existing borrowing facilities with any financial institution by 90 days or more as at the date of applying for a Loan Facility. <\/li>
    • Proof of the Borrower\u2019s VAT payments are up to date to the year ending 2020;<\/li>
    • Proof of the Borrower\u2019s income \/ corporation tax payments are up to date to the year ending 2020;<\/li>
    • Proof of the Borrower\u2019s National Insurance contributions for its employees being up to date to the year ending 2020;<\/li>
    • The Borrower is not owned or controlled by any shareholder or person who also owns or controls another SME that is already a Borrower or has applied for a Loan Facility, provided however, that a Borrower can be allowed a second Loan Facility upon the repayment in full of the first Loan Facility.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      THIS LOAN IS \nAVAILABLE THROUGH\nFIRST CITIZENS <\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      About the SME Stimulus Loan An initiative of the Government of Trinidad and Tobago business support Activate Your Business Recovery FROM THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO About the SME Stimulus Loan The Government of the Republic of Trinidad and Tobago is providing support to Small and Medium Enterprises (SME) to reinforce […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-907","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/pages\/907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/comments?post=907"}],"version-history":[{"count":0,"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/pages\/907\/revisions"}],"wp:attachment":[{"href":"https:\/\/uxc.dev\/smeloans\/wp-json\/wp\/v2\/media?parent=907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}