NHT partners with credit unions for home microfinance loan programme

The National Housing Trust (NHT) has partnered with credit unions to set up a Housing Microfinance Loan Programme for contributors earning $30,000 weekly or less.
These contributors will be able to access credit of up to $1.5 million, to help meet their respective housing needs. 
The first agreement under the partnership was signed on Friday June 30, with the Community and Workers of Jamaica Cooperative Credit Union (C&WJ). 
Agreements with other credit unions are to follow. 
Under the partnership, funds will be made available for on-lending to current and new contributors to repair or improve their existing homes or build their own homes. 
Contributors will be able to borrow a maximum of $850,000 at any one point, and up to $1.5 million.
With interest rates of six per cent for secured loans and nine per cent for unsecured loans, the programme represents the most competitive microfinance rates on the market. 

comments powered by Disqus
More Stories
Most Popular
BOJ reports 0.4 per cent deflation in April