Loans
Corporate lending
Citibank® N.A. Jamaica offers a variety of short, medium and long-term financing alternatives available in local and foreign currency. We have a long and proud record of working with Local Companies, Multi-national Corporations, Public Sector and Financial Institutions to provide them with timely, customized solutions.
Our loan structures typically fall into the following categories:
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Overdraft Facility |
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Working Capital & Short-term Financing |
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Project & Long-term Financing |
| Overdraft Facility |
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Description: Customers who expect to need temporary credit from time-to-time to buffer the variability of their cash inflows may request this type of facility. |
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Cost: An annual fee, usually expressed as a percentage of the Facility. An overdraft interest rate is also established and applied to overdrawn amounts.
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| Working Capital & Short-term Financing |
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Description: Working capital facilities may be requested to obtain short-term liquidity or fund current assets. Such financing may be structured in a variety of ways including receivables financing, payables financing and loans linked to the purchase of inventory. |
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Cost: An initial fee, usually expressed as a percentage of the Loan. The interest rate may be a fixed rate, or a floating rate.
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| Project & Long-term Financing |
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Description: Typically, such loans are linked to the financing of an income-earning project with a creditworthy sponsor. |
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Cost: An up-front work fee, an initial commitment fee and an annual loan administration fee, each usually expressed as a percentage of the Loan. The interest rate may be a floating rate or a fixed rate. The floating rate is usually based on the local Treasury Bill rate – in the case of local currency borrowing, or LIBOR – in the case of foreign currency borrowing.
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The decision to extend credit facilities is solely up to Citibank® and is done only after the bank’s Credit Committee has fully approved the credit request and established the credit terms and the relevant documentation is executed.
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