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Trinidad and Tobago
Finance and Insurance :: Business Finance
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Title
Description
Post-Shipment Financing
The Export-Import Bank Trinidad and Tobago Limited (EXIMBANK) offers a post-shipment facility to provide short-term financing to exporting manufacturers, distributors and service providers. Businesses receive financing in the form of a loan for 90% of the invoice value of export sales, which must be repaid from the assigned proceeds of payments from buyers. Small, medium and large enterprises operating within Trinidad or Tobago that would like to begin exporting or would like to increase their export market are eligible to apply for post-shipment financing.
Pre-Shipment Financing
The Export-Import Bank Trinidad and Tobago Limited (EXIMBANK) offers pre-shipment financing to exporters to assist in the manufacturing and processing of local and export orders. This financing may be used for the payment of wages and the purchasing of raw materials or equipment. Enterprises interested in applying for pre-shipment financing should submit a formal written request, on company letterhead, to EXIMBANK.
VCIP - Obtaining Advisory and Mentoring Unit (AMU) services
The Advisory and Mentoring Unit (AMU) provides Qualified Investee Companies (QICs) with advisory services and the pre-investment technical support necessary for them to secure funding for their projects. AMU is a part of the Venture Capital Incentive Programme (VCIP), which was introduced to address the lack of equity capital available for small business financing in Trinidad and Tobago. AMU assistance takes the form of in-house advisory services as well as outsourced specialized services where costs will be borne jointly by the VCIP and entrepreneur.
Local Discounting
The Export-Import Bank of Trinidad and Tobago Limited (EXIMBANK) offers a local discounting facility to provide short-term financing to local manufacturers, distributors and service providers. Businesses receive financing in the form of a loan for 90% of the invoice value of local sales, which must be repaid from the assigned proceeds of payments from buyers. The timeframe for processing an application can vary from two working days to two weeks, depending on a number of variables including the number of approving authorities and the availability of documentary requirements such as financial statements.
VCIP - The Venture Capital Incentive Programme
The Venture Capital Incentive Programme (VCIP) was introduced to address the lack of equity capital available for small business financing in Trinidad and Tobago. The prime objective of the VCIP is to increase the supply of risk capital to the entrepreneurial small business sector, thus fostering the expansion and preservation of small businesses as well as creating new jobs. Those businesses seeking to make investments in a small or medium business venture must first be registered as a Venture Capital Company (VCC) in order to receive tax credits.
Micro-Enterprise and Training Grant
The Micro-Enterprise and Training grant is offered to needy persons who are interested in undertaking a small business venture or skills training. An officer from the Ministry of Social Development and Family Services is assigned to work with the recipient of the grant to ensure the success of the business. For more information on how to apply for this grant and the eligibility criteria, please contact the Social Welfare Division office in your district.
Micro Enterprise Loan Facility
Micro Enterprise Loan Facility. Community-based organisations that would like to offer the Micro Enterprise Loan Facility to residents of their community are encouraged to contact the Research Unit of the Ministry of Social Development and Family Services. For more information about the Micro Enterprise Loan (MEL) Facility, please contact the Policy and Programme Planning and Development Division (PPPDD) of the Ministry of Social Development and Family Services using the information provided above.
Ministry of Community Development, Culture and the Arts - Disbursement of Grants
Ministry of Community Development, Culture and the Arts - Disbursement of Grants. This is due to the strong conviction and evidence, that not-for-profit organizations and individuals play a key role in the building of resilient communities, and as keepers and propagators of our cultural heritage and art forms. Individuals or Groups interested in applying for grant funding must submit a completed application form to the relevant Community Development District Office within which the project is located or group (in the case of multi-site projects).
VCIP_AMU_Application.pdf
AMU APPLICATION FORM Name of QIC_______________________________________________Date_________. QIC’s will be responsible for any up front, start up or mobilization fees charged by the intermediary. The portion of the pro forma invoice to be paid by the VCIP will be determined by the Evaluating Committee whose decision is final.
Post-Shipment Financing
The Export-Import Bank Trinidad and Tobago Limited (EXIMBANK) offers a post-shipment facility to provide short-term financing to exporting manufacturers, distributors and service providers. Businesses receive financing in the form of a loan for 90% of the invoice value of export sales, which must be repaid from the assigned proceeds of payments from buyers. Small, medium and large enterprises operating within Trinidad or Tobago that would like to begin exporting or would like to increase their export market are eligible to apply for post-shipment financing.
Local Discounting
The Export-Import Bank of Trinidad and Tobago Limited (EXIMBANK) offers a local discounting facility to provide short-term financing to local manufacturers, distributors and service providers. Businesses receive financing in the form of a loan for 90% of the invoice value of local sales, which must be repaid from the assigned proceeds of payments from buyers. The timeframe for processing an application can vary from two working days to two weeks, depending on a number of variables including the number of approving authorities and the availability of documentary requirements such as financial statements.
Pre-Shipment Financing
The Export-Import Bank Trinidad and Tobago Limited (EXIMBANK) offers pre-shipment financing to exporters to assist in the manufacturing and processing of local and export orders. This financing may be used for the payment of wages and the purchasing of raw materials or equipment. Enterprises interested in applying for pre-shipment financing should submit a formal written request, on company letterhead, to EXIMBANK.
VCIP - Obtaining Qualified Investee Company (QIC) status
VCIP - Obtaining Qualified Investee Company (QIC) status. An entity must obtain Qualifying Investee Company (QIC) status before it can receive financing through the Venture Capital Incentive Programme (VCIP). Entities interested in obtaining QIC status should obtain the Qualifying Investee Company Form, which can be downloaded using the link at the bottom of this section.
VCIP - Obtaining Advisory and Mentoring Unit (AMU) services
The Advisory and Mentoring Unit (AMU) provides Qualified Investee Companies (QICs) with advisory services and the pre-investment technical support necessary for them to secure funding for their projects. AMU is a part of the Venture Capital Incentive Programme (VCIP), which was introduced to address the lack of equity capital available for small business financing in Trinidad and Tobago. AMU assistance takes the form of in-house advisory services as well as outsourced specialized services where costs will be borne jointly by the VCIP and entrepreneur.
VCIP - Registering as a Venture Capital Company (VCC)
An entity must register as a Venture Capital Company (VCC) before it can make investments in a small or medium business venture in order to receive tax credits available through the Venture Capital Incentive Programme (VCIP). Entities interested in registering as a VCC should obtain and complete a VCC Registration Form, which can be downloaded by following the link at the bottom of this section. Forms should be completed in accordance with the included instructions and returned, with all required documentation, to the VCIP Office of the Administrator at the address above.
VCIP - The Venture Capital Incentive Programme
The Venture Capital Incentive Programme (VCIP) was introduced to address the lack of equity capital available for small business financing in Trinidad and Tobago. The prime objective of the VCIP is to increase the supply of risk capital to the entrepreneurial small business sector, thus fostering the expansion and preservation of small businesses as well as creating new jobs. Those businesses seeking to make investments in a small or medium business venture must first be registered as a Venture Capital Company (VCC) in order to receive tax credits.
Micro-Enterprise and Training Grant
The Micro-Enterprise and Training grant is offered to needy persons who are interested in undertaking a small business venture or skills training. An officer from the Ministry of Social Development and Family Services is assigned to work with the recipient of the grant to ensure the success of the business. For more information on how to apply for this grant and the eligibility criteria, please contact the Social Welfare Division office in your district.
Micro Enterprise Loan Facility
Micro Enterprise Loan Facility. Community-based organisations that would like to offer the Micro Enterprise Loan Facility to residents of their community are encouraged to contact the Research Unit of the Ministry of Social Development and Family Services. For more information about the Micro Enterprise Loan (MEL) Facility, please contact the Policy and Programme Planning and Development Division (PPPDD) of the Ministry of Social Development and Family Services using the information provided above.
VCIP - The Venture Capital Incentive Programme
The Venture Capital Incentive Programme (VCIP) was introduced to address the lack of equity capital available for small business financing in Trinidad and Tobago. The prime objective of the VCIP is to increase the supply of risk capital to the entrepreneurial small business sector, thus fostering the expansion and preservation of small businesses as well as creating new jobs. Those businesses seeking to make investments in a small or medium business venture must first be registered as a Venture Capital Company (VCC) in order to receive tax credits.
