SME Stimulus Loan

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The Government of Trinidad and Tobago (GORTT) previously launched an SME Stimulus Programme with the aim of supporting micro, small and medium enterprises impacted by the Covid-19 pandemic. Loans will be facilitated via participating Commercial Banks i.e. Republic Bank, Scotiabank, First Citizens Bank and RBC Royal Bank.

The SME Stimulus Loan is a Government guaranteed loan. Under the current Phase III, customers can now access up to $1.5M. These loans have a minimum term of two (2) years and up to a maximum of ten (10) years. Only loans with a term more than five (5) years have a two-year optional moratorium on principal payments. The GORTT guarantees 80% of the loan with the interest being paid by the customer. These loans now attract a 1% of loan guarantee-fee payable to the GORTT.

Simply click below to start the process and we will contact you within two (2) business days regarding your application.


To be eligible for the SME Stimulus Loan, an SME is required to declare, amongst other things, that they are in possession of:
  • Annual Gross Revenues between TT$0.5 million to TT$25 million.
  • The Borrower is a going concern and is not delinquent or in Default in respect of any loan lent by any financial institution according to such financial institution’s credit and collection policy. For the avoidance of doubt, an applicant for a loan under the Scheme shall not be in arrears on any existing borrowing facilities with any financial institution by 90 days or more as at the date of applying for a Loan Facility;
  • Proof of the Borrower’s VAT payments are up to date to the year ending 2021;
  • Proof of the Borrower’s income/corporation tax payments are up to date to the year ending 2021;
  • Proof of the Borrower’s National Insurance contributions for its employees being up to date to the year ending 2021;
  • The Borrower is not owned or controlled by any shareholder or person who also owns or controls another SME that is already a Borrower or has applied for a Loan Facility, provided however, that a Borrower can be allowed a second Loan Facility upon the repayment in full of the first Loan Facility.
  • Consent required to allow the Bank to share the relevant information with the Ministry of Finance, Board of Inland Revenue and National Insurance Board

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Applicable to Phase III

  1. Each Borrower under a Loan Facility shall certify:
    (a) It intends to continue to operate its business or to resume operations;
    (b) It generates its revenues from the sales of goods or services;
    (c) It is not a person or persons holding public office, or is not an entity, owned or controlled by a person or persons holding political office;
    (d) It will not use the proceeds to repay other borrowings;
    (e) It will not use the proceeds to repay any director/shareholder loans;
    (f) It will not use the proceeds to declare a shareholder dividend;
    (g) It will not use the proceeds to purchase residential property or any financial assets or products or vehicles for personal use.

  2. The following pre-conditions shall apply to each Loan Facility:
    (a) The Borrower is a business operating in Trinidad and Tobago with a minimum of five (5) employees;
    (b) The Borrower is a going concern and is not delinquent or in Default in respect of any loan lent by any financial institution according to such financial institution’s credit and collection policy. For the avoidance of doubt, an applicant for a loan under the Scheme shall not be in arrears on any existing borrowing facilities with any financial institution by 90 days or more as at the date of applying for a Loan Facility;
    (c) Proof of the Borrower’s VAT payments are up to date to the year ending 2021;
    (d) Proof of the Borrower’s income/corporation tax payments are up to date to the year ending 2021;
    (e) Proof of the Borrower’s National Insurance contributions for its employees being up to date to the year ending 2021;
    (f) The Borrower is not owned or controlled by any shareholder or person who also owns or controls another SME that is already a Borrower or has applied for a Loan Facility, provided however, that a Borrower can be allowed a second Loan Facility upon the repayment in full of the first Loan Facility.

  3. Each Borrower shall covenant for the duration of a Loan Facility to provide the applicable Lender with the following:
    (a) Annual Audited or Management Financial Statements for the Borrower(s), within 60 days of each fiscal year end;
    (b) Semi-annual unaudited financial statements for the Borrower(s) within 60 days of the semi-annual date;
    (c) Such other financial and operating statements and reports as and when the Lender may reasonably require;
    (d) Financial covenants that are customary for transactions of this nature.
    (e) Authorization to share its information with statutory agencies to ensure compliance with their requirements

The SME Stimulus Loan Facility is a government-sponsored loan programme of up to TT$300 million (Phase I), TT$196 million (Phase II) and TT$200 million (Phase III) to help micro, small and medium sized businesses impacted by the COVID-19 pandemic.

Under Phase III, the Facility is open to micro, small and medium-sized enterprises operating and incorporated in Trinidad and Tobago.

To be eligible for the Facility, an SME is required to declare, amongst other things, that they are in possession of:

  • Annual Gross Revenues between TT$0.5 million to TT$25 million
  • The Borrower is a business operating in Trinidad and Tobago with a minimum of five (5) employees;
  • The Borrower is a going concern and is not delinquent or in Default in respect of any loan lent by any financial institution according to such financial institution’s credit and collection policy. For the avoidance of doubt, an applicant for a loan under the Scheme shall not be in arrears on any existing borrowing facilities with any financial institution by 90 days or more as at the date of applying for a Loan Facility; .
  • Proof of the Borrower’s VAT payments are up to date to the year ending 2021;
  • Proof of the Borrower’s income/corporation tax payments are up to date to the year ending 2021;
  • Proof of the Borrower’s National Insurance contributions for its employees being up to date to the year ending 2021;
  • The Borrower is not owned or controlled by any shareholder or person who also owns or controls another SME that is already a Borrower or has applied for a Loan Facility, provided however, that a Borrower can be allowed a second Loan Facility upon the repayment in full of the first Loan Facility.

The business can use the loan solely for:
• Assisting with working capital
• Investment in tangible or intangible assets excluding residential property or any financial asset or personal vehicles.

  • Up-to-date annual audited or management financial statements, to also be submitted annually within (60) days of each fiscal year-end during the life of the loan;
  • Semi-annual unaudited financial statements within (60) days of the semi-annual date;
  • Financial and operating statements as required by the lending institution;
  • Financial covenants that are customary for transactions of this nature;
  • Borrowers must be compliant with KYC requirements
Loans under the SME Stimulus Loan Facility are available over a minimum term of two (2) years and up to a maximum term of ten (10) years.

The Borrower will pay the principal + interest.

For a loan with a term of 5 years or more, there would be a mandatory moratorium on principal payment in the first two (2) years and thereafter equal consecutive monthly principal instalments. Interest shall be payable at the end of each month.

Yes, prepayment is allowed without penalty.

Floating at a mix of 80% Repo + 20% the Lending Bank’s Prime Lending Rate.
Prime Lending Rate is based on a simple average of the Prime Lending Rate of the participating lending institutions and shall be reset quarterly. For example:
Central Bank’s Repo Rate = 3.5%
Average Prime Lending Rate = 7.4375%
Interest for the period July 1, 2023 – September 30, 2023 is 4.2875%

The Borrower will pay all interest on the loan.

Yes. The Government of the Republic of Trinidad and Tobago will secure 80% of your loan balance.
No application or processing fees will be charged for the loan by the Bank. However, each Borrower is required to pay a one-time up-front guarantee fee in the amount of 1% of the loan to the Lender payable to the GORTT.
In addition to meeting eligibility criteria, the SME must certify that:
  • It intends to continue to operate its business or to resume operations;
  • It generates revenues from the sales of goods and services;
  • It is not a person or persons holding public office, or is not an entity, owned or controlled by a person or persons holding political office;
  • It will not use the proceeds to repay other borrowings;
  • It will not use the proceeds to repay any director/shareholder loans;
  • It will not use the proceeds to declare a shareholder dividend;
  • It will not use the proceeds to purchase residential property or any financial assets or products or vehicles for personal use.
Loans will be available from First Citizens Limited, RBC Royal Bank (T&T) Ltd, Republic Bank Ltd and Scotiabank (T&T) Ltd.
Applications for this facility will be accepted until September 2024 or the exhaustion of the funds for this tranche (whichever comes first).
If you are interested in the SME Stimulus Loan Facility you should visit your financial institution’s website for more information.
Only loans with a term more than five (5) years have a two-year optional moratorium on principal payments.
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