KINGSTON, Jamaica – When 32-year-old entrepreneur Romario Maragh decided to start his trucking business in 2018, it was a ‘partner draw’ that helped him buy his first used truck.

Today, Ashmar’s Trucking & Haulage operates five trucks, moving containers and other cargo from Jamaica’s ports to customers across the island. NCB has financed the trucks that have supported the expansion of the business, including one acquired through the first NCB SME Growth Fund.

Now, Maragh is looking to add another truck to his fleet through the $2 billion NCB SME Growth Fund II.

“When an entrepreneur comes to us for financing, the real question is what that financing will allow the business to do next,” said Perrin Gayle, executive vice president, Retail Banking at National Commercial Bank Jamaica Limited (NCB).

“For Maragh, another truck means greater capacity to serve his customers and pursue more business. That is what we want the SME Growth Fund to facilitate, giving viable Jamaican businesses access to the capital they need to take their next step.”

Launched in April 2026, this second iteration of NCB’s SME Growth Fund received more than 2,000 applications from businesses seeking financing within the first two months. To date, just over $2.048 billion in loans have been identified within the approved SME Growth Fund II rate bands.

Trucking runs in Maragh’s family. His father operates a trucking business overseas, while his grandfather and stepfather were also involved in the industry. But when he established Ashmar’s Trucking & Haulage, he had to build the business for himself.

As the company expanded, his relationship with NCB Business Banker Tamara Spence became an even more important part of that journey.

Maragh recalled that securing financing was initially a learning experience, particularly around the financial records and business practices required. He credits Spence with helping him understand those requirements and prepare the business to access financing.

“When I see something I want to buy, she helps me to figure out the best way for me to get it,” he said. “She has played such a key role in helping my business to grow. I don’t know if I could have done as much without her.”

For Maragh, access to financing has also changed the type of equipment he is able to put into the business. Having started with a used truck, he now prioritises purchasing new, reliable equipment, which he says is critical in the haulage industry.

“When you’re in haulage, you need good, solid equipment because if the truck is down, you’re not working,” Maragh said. “Repairs can cost you up to J$5 million, and then you have the loss for the time that the truck is off the road as well. With the financing, I can get some of the best trucks on the market brand new, so I have better uptime and I’m not constantly spending on repairs.”

The support from Spence has also connected him with other services across NCB Financial Group. When the cost of insuring his growing fleet became a concern, Spence referred him to Guardian General Insurance Jamaica Limited. Maragh said the move helped him reduce his fleet insurance costs by more than 60 per cent.

“I complained to Tamara about the cost to insure the trucks, and she put me on to Guardian,” he recalled. “The discounted fleet rates they offer have made a big difference for the business.”

For Maragh, having access to the right financing and financial support has made it possible to pursue the ambitions he has for Ashmar’s Trucking & Haulage.

“Facilities like NCB’s SME Fund are truly helpful for businesses that want to grow. So many people have ambition and big dreams, but just need some solid financial backing to bring these to life,” he said.

The $2 billion facility followed NCB’s first $1 billion SME Growth Fund, which was fully taken up. The allocation was doubled for the second fund, providing greater access to financing for SMEs seeking to invest in their businesses.

Sheree Martin, chief executive officer of National Commercial Bank Jamaica Limited, said the response to the fund points to the ambition of Jamaica’s SME community and the importance of ensuring viable businesses can access financing to pursue their plans.

“Behind every application is a business owner with a plan, whether that is to purchase equipment, increase capacity, enter a new market, take on a larger contract or strengthen the business they have already built. The response to the SME Growth Fund tells us that Jamaican entrepreneurs are ready to invest in their businesses. Our role is to continue finding practical ways to help them access the financing and financial guidance they need to move those plans forward,” Martin said.