MSME President Welcomes DBJ Move to Roll Fees into Loans

President of the Micro Small and Medium Enterprises, MSME Alliance, Antoinette Hamilton, is welcoming the announcement that the Development Bank of Jamaica, DBJ, will roll the upfront fees for loans to medium and small businesses into the principal amount they borrow.

Finance Minister Fayval Williams announced the move as she closed the budget debate in the House of Representatives on Tuesday.

The MSME Alliance had complained that while funding existed for small businesses from the DBJ, many of them found it difficult to access financing because of the up-front fees associated with accessing the loans.

Hamilton says the roll-up will benefit MSMEs who were previously unable to cover the costs due to the fees.

Antoinette Hamilton, president of the MSME Alliance. She was speaking on Nationwide at Five on Tuesday.