Republic Bank launches commercial loan campaign and introduces new package to benefit MSMEs

Port-of-Spain, Trinidad, June 27 2023: On the advent of today’s international celebration of Micro, Small and Medium-sized Enterprises (MSMEs) Day, Republic Bank has announced the introduction of a novel and tailored campaign to better support its commercial and MSME customers. From established MSMEs to larger commercial businesses – including start-ups, women-led companies, businesses with a focus on sustainability and even part-time entrepreneurs with ‘side hustles’- all stand to benefit from a suite of discounted rates and other incentives under the Bank’s commercial loan campaign and a new Republic Bank Micro (MSME) Loan offer.

Launched on June 26, 2023 at a meeting held at its head office to highlight this year’s special commercial loan offers, the commercial loan campaign will run from July 3 - December 29, 2023 and offers attractive concessions for businesses looking to meet current goals or jumpstart their preparedness for the year end holiday retail demand. Highlights include:
• Competitive down-payments and rates for the purchase of new and Roll-On Roll-Off commercial vehicles. There are additional benefits for businesses seeking to purchase electric and CNG vehicles;
• Special rates for commercial loans;
• Competitive downpayments and rates for equipment purchases and
• Additional incentives for women-led businesses and green/sustainable businesses.

Additionally, given its new status as the Title Sponsor and Official Bank of the Republic Bank Caribbean Premier League, the campaign features discounted rates for financing directly related to business needs in preparation for the CPL cricket season in the areas of hospitality, food & beverage and entertainment.

Also unveiled at the meeting is the new Republic Bank Micro loan package which brings an added component aimed at improving access to finance for the MSME business segment. Unlike the commercial loan campaign which ends in December, the MSME loan will be an ongoing offer with relaxed qualifying criteria that allows small businesses to access loans up to $100,000.

“Small businesses are the life blood of our communities and our economy. There exists a tremendous opportunity to more effectively support their growth.” said Republic Bank Vice President, P. Vic Salickram, as he addressed attendees. He noted that this was only the beginning of the Bank’s exciting new offerings for the commercial business segments.