Jampro and DBJ session lays out bank, development, and market finance for exporters

Jampro’s exporter facilitation unit staged the second instalment of its exporters’ information series alongside the Development Bank of Jamaica (DBJ), centring on how firms can fund production, shipments, and growth beyond traditional bank loans alone.

Delane Morgan, who leads exporter facilitation at Jampro, moderated. Sonia Linton, Jampro vice-president for export, opened by stressing access to finance as a recurring hurdle for Jamaican operators moving into or scaling exports, and she thanked financial-sector partners for joining the room.

Financial consultant Lisa Bell, formerly managing director of the Exim Bank, framed exporter pain points: thin working capital, foreign-currency needs, high operating costs, weak digital uptake, and tight collateral rules at commercial banks. She cited Bank of Jamaica figures she described as the latest she could locate, from 2023: roughly 22.8 per cent of Jamaican adults unbanked or underbanked, about 45.7 per cent of merchants taking digital payments, and MSME lending at under 6 per cent of gross domestic product. She urged stronger financial literacy, wider use of Jam-Dex, and closer collaboration among regulators, development financiers, fintech, and banks.

Trev Mullings, acting manager for intermediary relationships at the DBJ, outlined the bank’s loan purposes across productive sectors, a headline ceiling of about $1.5 billion per beneficiary where justified, moratorium flexibility including up to 24 months’ principal pause on a 10-year facility, and financing ratios of up to 90 per cent for micro, small, and medium enterprises versus 70 per cent for large entities. He detailed the credit enhancement facility for collateral shortfalls—up to $30 million support per entity, priced at about 2 per cent plus GCT on a reducing balance, applicable whether or not the underlying loan is DBJ-funded—and a loan-fee financing programme to roll upfront bank charges into principal. He also mentioned an enhanced energy audit offer pairing about $200,000 upfront support with a rebate of up to about $300,000 when borrowers implement efficiency measures tied to a DBJ facility, and noted DBJ’s placement of roughly US$21 million across about 10 private-equity funds touching more than 100 businesses.

Hopton Nicholson, Exim Bank manager of loan originations, highlighted short- and medium-term credit, trade credit insurance, an e-commerce facility of up to about $5 million at 5 per cent over five years, a solar energy line of up to about $50 million at 7.5 per cent over seven years, and a Jamaica Manufacturers and Exporters Association-linked unsecured working-capital window of up to about $3.5 million over 30 months for qualifying members.

Terianne Sigree Brown, IDB Invest private-sector regional coordinator for the Caribbean, explained how IDB Lab blends grants-style technical assistance to accelerators with direct instruments such as equity, fund-of-funds, and debt roughly between US$500,000 and US$5 million over about three to five years, stressing documented revenue, innovation, solvency, and development impact. She said a recent loan call closed 30 June but the application portal remained open for reference, and she noted IDB’s past backing of government-executed programmes such as the BIGEE initiative channelled through the DBJ.

Commercial banks outlined trade bills, letters of credit, FX tools, revolving lines, and onboarding support. First Global Bank’s Rammon Richards said audited statements are not mandatory for facilities of $50 million or below. National Commercial Bank’s Kimberly Martin pointed to merchant-linked lending and a “Quick Biz” facility of up to about $15 million for firms trading at least one year, with DBJ guarantees where needed.

A closing panel moderated by Bell featured Rajie Banks of Carbine Capital Investments on invoice factoring and purchase-order support tied to buyer credit strength, Gabrielle Spence of Barita Investments on bonds, receivables purchases, DBJ-backed enhancements, and minority private equity stakes, and Andre Gooden of the Jamaica Stock Exchange on the junior market—about 48 listed firms, a minimum 20 per cent equity offer, a staged tax holiday, mentors—and a forthcoming micro market targeting raises between about $5 million and $49 million, with a first listing targeted for 2026. Gooden also flagged green bonds as an emerging channel for climate-related projects.

Morgan closed by pointing attendees to Jampro’s exporter readiness checker for a guided follow-up on gaps, including financial readiness.