NEDCO’s Loan Programme is not a standalone programme but is part of a comprehensive government strategy to facilitate sustainable and competitive small and micro businesses.  To date, NEDCO has assisted approximately 4,800 individuals with either the start-up or expansion of their businesses.

• The person who is not sure what they want to do, but know they want to own a business;
• Those who have an idea for a new business but are not sure how to proceed;
• Those who want to proceed but need funding, and
• Those who may want to expand a business they have already started.

• Valid Identification Card or Passport - In cases where these documents are not available, a valid Driver’s Permit and the applicant’s Birth Certificate will be accepted. If the applicant’s name on his/her ID card was changed by marriage, the relevant documents to support 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

• Two (2) Passport Photos

• A Business Plan; Cash Flow Statement and Contract (where applicable)

• Invoices; Quotations; Written Estimates (to support value of the loan being requested).

• Business Registration:

- For Sole Traders and Partnerships(Original Registration Certificate)

-   For Limited Liability Companies – the following original documents are required:

   ▪ Certificate of Incorporation or Continuance where applicable.

   ▪ 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 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 Statement; Most Recent Payslip; Notarized copy of ID.

 

NOTE:  OTHER DOCUMENTS DEEMED RELEVANT FOR FURTHER ASSESSMENT MAY BE REQUESTED BY THE BUSINESS DEVELOPMENT OFFICER.

Loan Categories

The quantum ranges comprise of three (3) categories:

CATEGORY I     - Up to $ 50,000

CATEGORY II    - $ 50,001 to $100,000

CATEGORY III   - $100,001 to $250,000