NEDCO's Loan Ceiling
We have increased our loan entry ceiling from $100,000 to $250,000 for first-time borrowers, and up to a maximum of $500,000 for second-time borrowers. This allows us to assist a wider range of businesses and offer more support to persons who dream of becoming successful entrepreneurs.
The quantum ranges comprise of three (3) categories:
- CATEGORY I - Up to $100,000
- CATEGORY II - $100,001 - $250,000
- CATEGORY III - $250,001 - $500,000
To become a NEDCO client, you must submit the following documents:
√ Valid Identification Card or Passport (In cases where these documents are not available, a valid driver’s Permit and Birth Certificate will be accepted. If the applicant’s name on the his/her ID card was changed by marriage, the relevant documents to support the name change must be presented - i.e. marriage certificate, deed poll, etc.)
√ Proof of address
√ Letter of permission to operate (where applicable).
√ Most recent utility bill – TSTT; T&TEC, etc.
√ Lease/Rental Agreement (where applicable)
√ Two (2) Passport Photos
√ A Business Plan and; Cash Flow Statement and Contract (where applicable)
√ Invoices; Quotations; Written Estimates (to support the value of the loan being requested)
√ Business Registration:
- Sole Traders & Partnerships must submit original registration certificate
- Limited Liability Companies must submit the following original documents:
- Certificate of Incorporation
- Notice of Directors or change of Directors
- Notice of Address or change of address of registered office
- Notice of Secretary/Assistant Secretary
- Company Resolution (agreement to borrow)
- Company Bye-Laws
√ Applicant’s Resume
√ Two (2) letters of recommendations including Referee’s name, address, contact number, Job position, etc.
√ Two (2) Trade References from persons already in business.
√ Financial Records and Bank Statements (for existing businesses).
√ Collateral (Unit Trust or Share Certificates; Fixed Deposits; Appliances/Equipment/Vehicles)
√ Guarantor: Recent Job Letter; Financial Statements; Most Recent Payslip; Notarised copy of ID
NEDCO is more than a lending agency. We provide business advisory services to enhance the competitive and innovative edge for your business. Our Business Development Officers are placed at all eleven (11) locations to offer real-time relevant information in areas such as Marketing, Financial Management, Business Planning and Records Management.