For small and medium-sized enterprises (SMEs) seeking to take their businesses to the next level, developing a relationship with a financial institution is a critical enabler. It is necessary to view the relationship as a lifetime partnership which evolves based on the life stage of the business. While many SMEs are familiar with NCB’s traditional banking solutions (deposits and loans), the NCB Group, is comprised of several business lines and subsidiaries across Jamaica, Cayman, Barbados and Trinidad and Tobago. These together provide a complete suite of financial products and services to meet the spectrum of business needs.

Retail Banking and Payment Services – NCB’s retail banking and payment services offering are possibly the bank’s most popular business. However, since the launch of the NCB SME Unit in 2004, the bank has offered industry-leading products and services specially tailored to meet the needs of SME clients. Products and services of note include:

Branch based Business Bankers – Offers personal and specialised support for SMEs

Integrated offerings – Customers who use our point of sale machines, for example, can benefit from our Merchant Advance loan facility, an unsecured loan facility (no collateral required) that SMEs can tap into based on their point of sale volumes.

Low cost solutions – Our business value plans and electronic banking solutions allow customers to minimise and eliminate bank fees

Cash back – Our Keycard Biz and Keycard Biz Lite provide credit to enable businesses to earn cash back while managing their cash flows and purchases

E-commerce – Businesses seeking to sell their products and services online can benefit from our robust and affordable online commerce platform

NCB Capital Markets (NCBCM) – is the wealth and asset management arm of the NCB Group. We provide investment and creative funding solutions for business clients. Whether you are seeking to invest your cash for greater returns, or seeking to identify funding alternatives (debt or equity) – NCBCM develops solutions that are aligned with each client’s objectives, preferences and risk tolerance. Each solution is designed to help clients build wealth and create value. The products and services we offer are backed by our award-winning research team. NCB Capital Markets has been named Best Investment Management Company – Caribbean by World Finance Magazine for two consecutive years in recognition of its value added investment solutions.

NCB Insurance (NCBIC) – Employers who seek to enhance their employee benefit packages by offering various retirement and insurance solutions for their employees, can benefit from NCBIC’s Employee Care Life. This product offers peace of mind to employers whose objective is to protect their employees against the risks of death, disability or terminal illnesses. Business owners can also access NCBIC’s SMART Retirement Plan – an approved retirement scheme which allows employers to provide retirement benefits for their employees without having to establish a Superannuation Fund, while enjoying tax deductible benefits. This plan also provides benefits for self-employed, small business owners, who can set up personal retirement plans.

Advantage General Insurance Company (AGIC) – Known as the primary writer of motor insurance policies in the personal lines market in Jamaica, AGIC today has an enviable customer base of more than 100,000 policyholders. This subsidiary, through a commitment to customer satisfaction, offers a range of commercial policies to meet the needs of businesses. These include a vast array of products providing insurance for commercial vehicles, insurance protection against loss due to fire and natural disasters, coverage against burglary, contractor or employee damage to property or loss of money or goods in transit. The services offered provide satisfaction to entrepreneurs who are mindful of the potential impact on their business from unforeseen circumstances, and the need to recover quickly in such eventualities.

NCB Remote Cheque Deposit – This new facility offers SME owners the flexibility to manage their business on their own schedules. Now business customers can deposit cheques without visiting a branch, and have account updates completed within two hours. To access the facility customers can sign up, after which they are provided with special scanning machines which facilitate the scanning of cheques and uploading images to a central NCB site for processing. Using this option means reduced trips to the bank, allows for unlimited deposits and the benefit of a later cut-off time.

NCB Business Edge – This credit card solution is designed to give SMEs more purchasing power. Developed specifically for business owners, NCB Business Edge offers 55 days interest free credit and cash back on net purchases allowing you to earn while spending. The payment facility is also billed and is payable in Jamaican dollars. Business Edge, accepted internationally, makes it easier to keep track of your business expenses online or through monthly statements. The card is useful for paying bills, purchasing goods online, or even entertaining clients with this tool that earns for you.

SMEs, whether you are early stage, or ready to take your business global, we encourage you to select the NCB Group as your financial partner of choice. We have the breadth and depth of expertise, products and services, continuous innovation to meet your needs easily accessible under one umbrella. This coupled with the strength and longevity of our institution and our commitment to building the sector and, by extension, Jamaica – make us the right partner for taking your business to the next level and beyond.