Financial Institutions
Business
Credit Unions
Communal Co-operative Credit Union Ltd. H A Blaize Street Tel: 473-440-1755 Fax: 473-440-7545 Email: comcreditunion @ spiceisle. com Website: www. thecommunalcu. com
GUT Credit Union St. John’ s Street Tel: 473-440-1354 Fax: 473-435-6950 Email: gutcu @ spiceisle. com Website: www. gutcu. com
Grenada Public Service( Co-op) Credit Union 906 Church St, St. George’ s, Grenada, W. I. Tel: 1 473 440 1759, Fax: 1 473 440 8051 Email: info @ gpscu. org Website: www. gpscu. com
• Provide small loans for all aspects of viable business. As well as Loans from EC $ 500 to $ 30,000 interest rate range from 8.5- 9 % Maxi mum repayment period – 4 years
• Must be between the ages of 21 – 60 years
• Must be a member of the Credit Union
• 20 % Cash deposit required
• Technical assistance to start-ups
• Financial advisory and counseling service
• Flexible repayment schedule
• Business Management expertise available
• Up to 80 % financing
• Easier access to other loans
• No minimum limit to lend
• Interest rate 12 %. All other terms and conditions are negotiable. Criteria: Must be a member of the Credit Union.
• Gain access to easy financing
• Surplus is distributed to members as dividend
• Excellent member service Land Loans- Maximum of 10 years. Medical Loans- 20 % of the requested loan amount held in your regular shares account Vehicle Loans- 15 % of required amount held in your regular shares. House Loans- with flexible mortgage options Vacation Loans- 20 % of the amount you are requesting in your regular shares
MICROFIN Bruce Street, St. George’ s Tel: 473-435-4355 Fax: 473-435-4626 Email: agriffith @ microfin. org Website: www. microfin. org Source of Funding: DSL Caribbean Group
National Development Foundation Lucas Street, St. George’ s Tel: 473-440-5506, Fax: 473-440-6644 Email: ndf @ spiceisle. com Source of Funding: USAID( grant), GDB & ICDF Taiwan( loans)
Grenada Youth Enterprise Initiative Programme Ministry of Youth Development Prime Minister’ s Ministry Ministerial Complex, Botanical Garden, St. George’ s Officer at GDB Tel: 473-2255 / 2265 / 2383 Fax: 473-440-4116 Source of Funding: Government of Grenada
Micro-financing Agencies
• Provides business loans for existing micro-enterprises for equipment, raw materials, tools and commercial building improvement
• Loans from EC $ 1,000 to $ 135,000 for Micro Business at 16 % interest
rate on the declining basis. Criteria: Integrity, honesty and reputation are important criteria used in assessing applicants
• Provide loans for small businesses and the micro-sector
• Accounting assistance
• Training courses in the sewing
• There is no set limit for funding Interest rate is 14.75 %
Criteria: Must be between the ages of 21 – 60 years. Any tangible Security. Must have a business plan
• Provides financing and guidance for young people to become self employed. It aims to provide meaningful employment through the facilitation of easy access to credit financing for enterpring young people with legal, viable project ideas and proposals. Loans from EC $ 500 to $ 25,000 Interest rate range from 6 % Maximum repayment period 1 – 5 years Maximum grace period – 6 months. Criteria: Must be between the ages of 18 – 35 years, Security. Must have a business plan
ScotiaBank Halifax street, St. George’ s, Tel:( 473) 440-3274, Fax:( 473) 440-4173 Email: bns. grenada @ scotiabank. com, Website: www. grenada. scotiabank. com
Grenada Co-operative Bank Ltd. Church Street,, St. George’ s, Tel:( 473) 440-2111, Fax:( 473) 440-6600, Email: info @ grenadaco-opbank. com, Website: www. grenadaco-opbank. com
Republic Bank Grenada Ltd. Melville Street, St. George’ s Tel:( 473) 444-2265, Fax:( 473) 444-5501 Email: info @ republicgrenada. com, Website: www. republicgrenada. com
RBTT Grenada Corner of Cross and Halifax Street, St. George’ s Tel: 473-440-3521, Fax: 473-440-4153
First Caribbean International Bank( FCIB) Church Street,, St. George’ s, Grenada, P. O. Box 37, St. George’ s, Grenada W. I. Tel: 473-440-3232, Fax: 473-440-4103
Grenada Development Bank Melville Street, St. George’ s, Tel: 473-440-2382, Fax: 473-440-6610, Email: gdbbank @ spiceisle. com Source of funding: Caribbean Development Bank( CDB), European Investment Bank( EIB) and Government Equity
Banks
Offers a full range of services to large, medium and small businesses. From corporate and investment banking services, business solutions for small and medium-sized enterprises, to tailored packages for selfemployed professionals.
• Some of these services includes: Deposit Accounts: Chequing Account, Savings Account, Borrowing: Credit Line, Term Loans, Overdraft protection, Cash Management Services: Information Reporting, Direct Deposit, Wire payments Loans from EC $ 5000 to $ 480,000. Interest rate range from 9 ½ %-13 %.
Grenada’ s only indigenous commercial High street Bank.
• Provides loans for all aspects of business and provide the following facilities for business persons: Credit Line, Over draft facilities, Debit and Credit cards. Loans from under EC $ 500 to $ 480,000 interest rate range from 9½ %- 13 %.
• Commercial Business Services, Electronic Banking Services, Trade Finance, Corporate Services, Working Capital Financing, Capital Expenditure Financing, Credit facilities, Credit Card, Commercial Property Mortgages
• RBTT provide loans for all aspects of business and provide the following facilities for business persons: Chequing Account. Over draft facilities. Debit and Credit cards. Internet banking All projects are tried differently base on security provided, type of loan and amount to be borrowed. Interest rate range from 10½ %- 13 %.
• Provide loans for all aspects of business: Chequing Account. Over draft facilities. Debit and Credit cards. Internetbanking. Loans amount vary base on the specific needs of the customer. Interest rates range from 10½ %- 13 %.
• Provide micro-sector loans for all aspects of business. The loan may cover up to 90 % of the cost for new projects and up to 100 % of the estimated cost for expansion. Business name registration. Loans from EC $ 1,000 to $ 25,000 interest rate range from 10 %- 12 % Maximum repayment period – 6 years Maximum grace period – 1 year All applicants must satisfy the following conditions: Owner managed. Less than
25 employees. Less than 4000 sq ft of manufacturing area. Less than $ 135,000 investment in equipment. Less than $ 337,500 in total annual sales
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