THE National Export Import Bank (EXIM) through its Champions Assist programme is offering an attractive loan package for small and medium-sized businesses in the agribusiness sector to facilitate their expansion

The programme offers both loan and equity financing at rates as low as 10 per cent on Jamaican dollar loans, 7.5 per cent on US dollar denominated loans and 5.6 per cent on energy loans. Equity financing is available through ‘angel investors’ — high net worth individuals who offer funding to businesses.

“We are targeting companies which are organised, formalised and positioned for growth, and just need that capital injection to move to the next level in their capacity to produce and maximise earnings,” said Lisa Bell, managing director at the EXIM Bank.

Companies are invited to apply for participation in the programme, and once the requirements are met, funding will be made available in the first round for at least the first fifteen companies.

“For the first round we are prepared to support fifteen companies in this programme. However, were the response to be overwhelming, EXIM stands ready to expand the programme to assist all qualifying entities,” Bell said.

Participating companies must be established, registered Jamaican owned businesses located in Jamaica operating in the agribusiness sector. They must possess sound management, have a viable project or proposal, have the potential to export or provide goods or services to the exporting sector, be tax compliant and have a business plan.

Successful applicants will be eligible for a combination of equity and/or loan financing up to 51 per cent of the project cost. Applicant companies will also be eligible for referral to technical assistance for marketing, and business plan expansion and the coaching and mentoring expertise of experienced and successful business owners.

“We are encouraging companies who fit the profile to apply for the programme. We are also inviting investors to come on board to participate in this programme, which our research shows has great potential,” said Bell. The EXIM bank is also encouraging high net worth individuals to indicate their interest to the Bank regarding providing either equity or a guarantee for EXIM Bank loans.

EXIM loan disbursements for the financial year to January 2011 totalled $4.8 billion.