Calculations are intended to be used as a guide only. It is not an offer and has no legal effect on any contracts entered into by you ‘the client’. Fees are not included in calculations.
Finance Facts
This loan product supports persons or companies doing business in the areas of Agriculture, Manufacturing, Construction and Tourism.
$1,000 – $150,000
Loan Range
6.5% per annum
Interest Rate
1 year – 15 years
Repayment Terms
1 month – 12 months
Moratorium (Interest Only Payments)
Lending Criteria
Applicants must be legal permanent residents of Barbados
Applicants must have a commercially viable business
Applicants must possess the knowledge or skills to properly execute the operation of the business
Applicants must be willing to supply FundAccess with information relative to the business for the duration of the loan period
Applicants should make a tangible investment in the business either in cash or kind
Business plans, financial records and cash flow projections are required for loans in excess of $50,000
Security Options
Guarantees
Bill of Sale
Bonds
Fixed Deposits
Salary Deductions
Life Insurance Policies
Property
Mutual Funds
Some security options may carry legal and/or processing fees. There is an administration fee of 3% of the loan amount or a maximum of $3,000.
For individual and joint loans, additional protection for your loan is made possible through creditor’s life insurance.
If you have any questions, give us a call at (246) 228-1366 or email us at info@fundaccess.org