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Loans Jamaica - The Options For You

by Renee Morris
(St. Catherine)

Have you ever being in a critical situation and in need of some cash? Have you ever asked friends and family for a loan and they are unable to provide? These are everyday woes of many people.

The truth is, everyone has long term or short term dreams that need to be met. And the beautiful thing is that not because we do not have the finance ready, does it mean that our dreams can’t be met or they should be delayed for much longer.

In Jamaica, there are many financial institutions or organizations available to assist us when we need a loan. Whatever the purpose of the loan may be, there is always a place where it can be met.

From home loans, personal loans, car loans, student loan, business loan and even a vacation loan. There is a loan in Jamaica for you.


And is there is that dream house that you need but you don’t have the cash to purchase or build. A home loan is the perfect solution for this need. There are institutions in Jamaica like JNBS, VMBS, Scotiabank and Sagicor Bank that offers home loans.

This loan consists of an adjustable or fixed interest rate and payment terms which varies from institution to institution.


Financing a higher education is very expensive and can become burdensome. Often times, many persons opted to work and save the cash needed to attend University

In Jamaica, we have the Student Loan Bureau (SLB) among many other institutions that provides loans for education. If your application is successful with the SLB, they will cover your tuition fee for the required number of years. You may also receive a grant to provide with other expenses which you are not require to pay back.

Visit their website at


Many of us have the desire to start a new business but not enough capital. This dream can be realize with a small business startup loan. This is financing aimed towards starting a business with little or no business history. There are many institutions that now offers business loans in Jamaica. A list will be provided at the end of this article.

Even though loans are available specifically for cars, houses, businesses and education, loans for these purposes can also be borrowed under a personal loan. This loan covers just about anything, whether it is in the short term or long term.

Additional expenses that can be covered with this loan are wedding, vacation, medical and purchasing household furniture and appliances. This type may be secured or unsecured.

Secured loan is given once there is a co signer/guarantor for the loan. An unsecured loan is given based on the borrower’s credit history and his/her ability to repay.

Applying for a loan is not difficult – and usually gaining is equally not too difficult these days.

However, before you apply be sure to research different lender’s policy and apply to that lender which is beneficial to you.

Below is a list of the top institutions that offers various types of loans in Jamaica.

  • Scotiabank
  • National Commercial Bank
  • Victoria Mutual Building Society
  • Sagicor Bank
  • JMMB
  • First Caribbean Bank
  • Kris an Charles Investment Ltd
  • Access Financial Services Ltd
  • Worldnet Investment Company Ltd

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