BUSINESS BYTE: NDFD launches “4 for you: promoting pandemic relief loans”
Dominica’s National Development Foundation announced that it had activated a special pandemic relief loan promotion to help its existing and new clients, small business owners and frontline workers further mitigate the impact of the current pandemic on their livelihoods and businesses.
The “4 for You: Pandemic Relief Loans” promotion is the fourth quarter NDFD promotion consisting of four loan products with special limited-time offers including business loans, consolidation loans, green loans and Ready Cash loans.
Green loan – Pay in 2022
A three-month grace period is available to those who apply for a green loan from today until December 31st, 2021.
This targets businesses and individuals looking to improve efficiency and increase productivity through the use of green solutions. It can also fund innovation using renewable and energy efficient technologies for businesses or individuals.
Commercial loan (Fight against Covid) – Pay in 2022
A three month grace period is available for those who would apply for a business loan from today until December 31st, 2021.
This loan is particularly offered to entrepreneurs who wish to purchase PPE and disinfection equipment and materials for their places of business; restart their workplaces with the purchase of stock or supplies; pay unpaid rents and other debts caused by closures induced by the pandemic; and for other related purposes.
This business loan promotion also contains a “pandemic shield” that protects the entrepreneur from the negative impact in the event of a nationwide shutdown of a month or more. The NDFD offers full grace on principal and interest if such a shutdown occurs.
Frontline Worker Consolidation Loan
NDFD offers all frontline workers across the country a special consolidation loan package. Under this program, our hard-working frontline workers including doctors, firefighters, police, nurses and other medical staff can apply for a loan of up to $ 20,000, including 60% to consolidate their existing debts. The rest of the loaned amount can be used for their personal or household expenses to improve their quality of life.
As part of this promotion, NDFD Ready Cash (RC) clients can refinance their existing loans six months from their last RC loan.
Thermal baths and conditions of application. Those interested are encouraged to check the NDFD’s social media pages to learn more about this promotion. They are also asked to call the NDFD office at 275-5251 and 617-7036.