DBJ Removes Upfront Loan Fees For Small Businesses

Finance Minister, Fayval Williams, has announced that the Development Bank of Jamaica, DBJ, will roll the up-front fees for loans to medium and small businesses into the principal amount they borrow.

This was a key point on which the MSME Alliance had voiced disappointment after the Minister’s initial contribution to the Budget Debate.

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.

But in closing the debate on Tuesday afternoon, the Finance Minister said the fee barrier will be removed.

Fayval Williams, Minister of Finance and the Public Service.