Loans of up to $30,000 are granted for both start-ups and existing businesses at a rate of nine percent (9%) on the reducing balance and without the use of collateral. Calculate your possible monthly instalments now by clicking here: Tools for Entrepreneurs.
What documents do I need to present to YBTT?
At the enquiry stage, young entrepreneurs will be advised on the documents needed to continue the application process. However, applicants must present a valid TT Identification Card or Passport.
Each young entrepreneur should complete a Business Plan and return it to YBTT’s offices as soon as possible, along with the requisite supporting documentation.
Clients are advised that statutory requirements (e.g. County Medical and Health Approval, etc.) must be fulfilled before disbursement.
What types of businesses are funded by YBTT?
Generally YBTT will fund any type of project, with the exception of bars, gambling enterprises, Internet Cafés, DVD Stores, Mini Marts and Vehicles. Don’t be dismayed, contact us today to share your idea so we can help you create a path to success.
How do I repay my loan, and what is the maximum repayment period?
Loan repayment is on a monthly basis and the specific repayment amount depends on the loan size. A maximum repayment period of 48 months can be obtained and a moratorium period of up to six months can be applied.
Can partnerships access funding?
Partnerships can be funded, but are limited to 2 persons. Both parties must meet YBTT’s lending criteria at the enquiry stage.
Can persons with an existing business access funding from YBTT?
Persons with existing projects can be funded, but these businesses must be less than three years old and must lead to an increase in employment.
Want to find out more? Contact us here