Support Services

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  1. +THA Business Development Unit Enterprise Assistance Fund (Loan)

    The Rationale for the Enterprise Assistance Fund

    The Business Development Unit is committed to the empowerment of individuals and communities in order to achieve National Development, by fostering financial independence and sustained improvement in living conditions.  This Enterprise Assistance Fund is but one of a range of services and resources geared towards the support of existing and potential entrepreneurs.

     Approach

    A. The Business Development Unit views itself as a partner in each of the projects in which it becomes involved.  The well-being of its clients is its main focus.  In this regard, the focus of the Unit is two-fold:

    i. The sustainability of the client’s venture; and

    ii. Its impact on the community

    This approach will ensure that the full social and economic benefits of the partnership can be realized.

    TARGET MARKET

    A. The preferred market for the Enterprise Assistance Fund is the creative, innovative entrepreneur in areas of service and manufacturing.  Primarily, the Fund identifies four (4) distinct categories as its core target groups:

    i. The ‘regular’ entrepreneur shopping his ideas/proposals in search of funding;

    ii. The disenfranchised individuals who, by virtue of their inability to access capital or support, have difficulty pursuing their entrepreneurial option;

    iii. Using the concept of peer-group lending, loans will be made available to community or other groups with sound business ideas.  These groups should however, have been established for a period of at least one (1) year, and;

    iv. Companies that have been in existence for at least (2) years.

     B. The BDU encourages proposals in the following areas of Enterprise:

    i. Manufacturing

    ii. Service Oriented Projects

    • Graphic, Web Design and Marketing
    • Catering
    • Events Management
    • Sanitation
    • Vehicle Services
    • Cleaning Companies
    • Restaurants

    III. Community Cluster Production

    iv. Art and Craft

    v. Fashion and Design

    vi. Garment / Textiles Manufacturing (whole scale approach)

    vii. Agro / Fish Processing E.g. Packaging, preserving (value added aspects of the fishing industry)

    vii. Retail Services e.g.

    • Dry goods – commercial / retail (security demanded must be at the highest allowable amount; and each case would be analyzed on its own merit)
    • Food – fruits, vegetables, meats (mini marts)

    ix. Tourism Sector Services e.g.

    • Tours, reef boats, dive shops
    • Game fishing, charters
    • Taxi, maxi, vehicle rentals, limousines

    x. Trade Related Activities

    • To get products and services export-ready to meet international standards in order to penetrate foreign markets.
  2. +NEDCO Loan Funding

    NEDCO’s Small Business Financing service is geared towards supporting micro, small and medium size enterprises in achieving their business’ goals. Our loan process assists clients to be financially capable and competitive, whilst ensuring their business operations are compliant with the requirements specific to their sector. We provide financial services for a wide range of businesses with the exception of primary agriculture, gambling and the purchase of alcohol. Over the last twenty (20) years we have assisted thousands of entrepreneurs to establish, build and expand their businesses and we look forward to helping you do the same. First-time borrowers can access up to TT$250,000 while repeat borrowers can access funding up to TT$500,000. NEDCO's interest rate is fixed at 8 % (simple interest). The maximum repayment periods are 5 years for general loans; 3 years for tock loans and 6 years for Maxi Taxi Loans. Loans can ONLY be granted to registered businesses to purchase stock, equipment, motor vehicles or conduct repairs/renovation towards a business venture. NEDCO will not consolidate debt from other financial institutions, statutory bodies or individuals. Collateral is required and may be accepted in the form of business equipment, vehicles, or cash collateral. Businesses can receive up to three (3) months grace period. Loan funds will be directed to the account of the supplier(s) of the goods / services based on the quotations and invoices you supply. However, exceptions are made for regional / international purchases. Your Business Relationship Officer will discuss options for the moratorium disbursement of funds.

  3. +SBTT SME Loan Guarantee Programme

    The Government of the Republic of Trinidad and Tobago (GORTT) is providing support to businesses, with annual revenues of TT$ 500,000 to TT$25 million, which have been impacted by the COVID-19 pandemic.

    This loan is available to Micro, Small and Medium Enterprises (MSME). The aim of this initiative is to reinforce the MSME sector’s position as an integral part of the economy.

    The guarantee provided by the Government of the Republic of Trinidad and Tobago represents 100% of the loan amount. No MSMEs will be required to provide security.

  4. +RBC SME Loan Guarantee Programme

    The Government of the Republic of Trinidad and Tobago (GORTT) is providing support to businesses, with annual revenues of TT$ 500,000 to TT$25 million, which have been impacted by the COVID-19 pandemic.

    This loan is available to Micro, Small and Medium Enterprises (MSME). The aim of this initiative is to reinforce the MSME sector’s position as an integral part of the economy.

    The guarantee provided by the Government of the Republic of Trinidad and Tobago represents 100% of the loan amount. No MSMEs will be required to provide security.

  5. +RBL SME Loan Guarantee Programme

    The Government of the Republic of Trinidad and Tobago (GORTT) is providing support to businesses, with annual revenues of TT$ 500,000 to TT$25 million, which have been impacted by the COVID-19 pandemic.

    This loan is available to Micro, Small and Medium Enterprises (MSME). The aim of this initiative is to reinforce the MSME sector’s position as an integral part of the economy.

    The guarantee provided by the Government of the Republic of Trinidad and Tobago represents 100% of the loan amount. No MSMEs will be required to provide security.

  6. +FCB SME Loan Guarantee Programme

    The Government of the Republic of Trinidad and Tobago (GORTT) is providing support to businesses, with annual revenues of TT$ 500,000 to TT$25 million, which have been impacted by the COVID-19 pandemic.

    This loan is available to Micro, Small and Medium Enterprises (MSME). The aim of this initiative is to reinforce the MSME sector’s position as an integral part of the economy.

    The guarantee provided by the Government of the Republic of Trinidad and Tobago represents 100% of the loan amount. No MSMEs will be required to provide security.