KINGSTON, Jamaica — VM Building Society (VMBS) is expanding its support for Jamaican businesses seeking to recover from natural disasters while strengthening their resilience against future climate-related events.

According to a release from VMBS, the society is increasing access to disaster-recovery financing, development funding and dedicated support for micro, small and medium enterprises (MSMEs) to help businesses restore operations, protect jobs, strengthen infrastructure and invest in solutions to better prepare for future disruptions.

One of the latest demonstrations of this commitment is VMBS’ participation as an Approved Financial Institution (AFI) in the Development Bank of Jamaica’s (DBJ) M5 Business Recovery Loan Programme, recently reinforced through a symbolic signing between DBJ, VM and other partners in June.

“For us at VM, resilience is about more than responding after a disaster. We are committed to deliberately helping businesses prepare, recover and strengthen their ability to withstand the next disruption,” said Latoya Williams, assistant vice-president, Lending Solutions and Business Services at VMBS.

“Our role is to ensure that entrepreneurs know there are financing solutions available to help them rebuild today, while making the investments that can create stronger, more sustainable businesses for tomorrow,” she said.

VMBS has already disbursed more than J$35 million in M5 loans to business clients.

Developed in response to the impact of Hurricane Melissa, the J$10-billion M5 programme provides businesses with financing for financial stabilisation, working capital, asset replacement, infrastructure repairs and longer-term recovery measures.

The programme offers qualifying businesses financing at an interest rate of eight per cent, with repayment periods of up to 10 years.

VMBS is also encouraging business owners who may be concerned about insufficient collateral to explore financing options available through the DBJ’s Credit Enhancement Facility (CEF).

The facility can provide collateral support for eligible businesses under the M5 framework, helping to improve access to financing.

“We do not want viable business owners to assume that a lack of collateral means the end of the road, particularly when they are trying to recover from a disaster,” Williams said.

“Through mechanisms such as the Credit Enhancement Facility, there may be an opportunity to bridge that gap. Contact the VMBS and let’s have the conversations, explore the options and determine how we can support them to reboot, rebuild and, ultimately, scale their operations,” she said.

VMBS’ support extends beyond M5. As an AFI, the society has access to DBJ’s wider suite of funding lines, creating additional opportunities to connect businesses with financing aligned with their development needs.