• NDFD Magazine

Loans

General Loan Requirements

 

  • Picture ID
  • Proforma Invoice
  • Business Registration
  • Proof of Address.
  • Credit reports from financial institutions and various business houses .
  • Appraisal fees are paid to the NDFD and is dependent on the size of loan.
  • Stamp fees are paid to the Government of the Commonwealth of Dominica.

Collateral Requirements

  • Guarantor
  • Cash deposit or Letter of lien on fixed cash deposits at other Financial institutions.
  • Certificate of Title – Letter of undertaking from solicitor when Certificate of Title (COT) will be security and COT is being processed. A Property valuation is also required for use as security.
  • Assignment of Life Insurance to the National Development Founda­tion of Dominica (NDFD) Limited.
  • Bill of Sale on equipment.

Collateral is dependent on the loan amount and loan type.

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Loans Approved
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Investments

Loan Types

Goverment Construction Contracts

1. Construction Contracts
2. Estimates of Building works.
3. All Contract proceeds to be assigned to the NDFD

Distributive Trade

1. Proforma Invoice
2. Lease for Owners who require to rent for Business Operations
3. Business Registration
4. All necessary legal documents e.g. liquor license/parlor license/food handlers permit.

Home Improvements

1. Estimates for the refurbishing of work.
2. Salary deduction.

Asset Purchasing

Land
Vehicle
etc.

Miscellenous

1. Proforma invoices must be provided.
2. Loan must be paid via salary deduction.

Fishing

1. Recommendation letter from the Fisheries Division.

Education

1. Letter of acceptance from Education Institution
2. Invoice of fees to be paid from the Education Institution
3. Salary deduction

Business Expansion

1. Financial statements of your business for the past year.
2. Lease agreement from prospective borrower where a property is being rented for business operation.
3. Business Registration

Services

1. For the purchase of new vehicle: 15% cash deposit, Bill of sale on vehicle, Full comprehensive Insurance. Other forms of security can be provided.
2. For the purchase of used vehicle: 20% cash deposit, Bill of sale on vehicle, Other forms of security can be provided.
3. Proforma Invoices for the purchase of goods and services.
4. Lease.

Agriculture

1. Report from Extension officer at the Division of Agriculture
2. Estimates for job to be undertaken.
3. If a sales contract has been secured, authorization on sales of proceeds will be required.
4. If loan is required for the construction of housing for livestock, approval from Environmental Health and quality estimates for the construction of the animal house is required.

Manufacturing/Industry

1. Business owners must work closely with the Bureau of Standards prior to seeking financing from the NDFD.
2. Lease agreement.

Huckstering

1. Huckstering ID
2. Letter from Huckster's Association

For More Information

 Please get in touch with us via our website or give us a call. Don’t hesitate to get your loan to start your new business or if you just need some information as to how it all works contact us today.