Help and Frequently Asked Questions

An initiative of the Government of Trinidad and Tobago Coronavirus (COVID -19) business support

Activate Your Business Recovery

FROM THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO

Eligible Micro, Small and Medium Enterprises, which have been impacted by the COVID-19 pandemic, are invited to apply for the MSME Stimulus Loan. Read below to find out more about any questions you may have.

This is an interest free loan to be repaid within 7 years.

Loan proceeds can be utilized for the following purposes only:

   (i)  Assist with working capital support

   (ii) Finance salary payments

   (iii) Purchase raw materials, goods, supplies, equipment, machinery, including vehicles but excluding however vehicles for personal use

   (iv) Purchase fixed assets excluding purchase of residential property and financial assets/products

    (v) Provide additional funding to entities previously granted facilities under Phase 1 subject to satisfying all conditions including standard credit criteria. To qualify, firms must not be 120 days or more in arrears of payments on existing loans.

Yes. You are required to repay the principal only. The interest payment will be paid by the Government of Trinidad & Tobago; however, no payments are required for the first 2 years.

No. Interest on this loan will be paid by the Government of the Republic of Trinidad and Tobago.

The loan amount is allocated based on annual revenue. The loan limit is between TT$150,000 and TT$600,000.

Annual Revenue (TT)Maximum Loan Limit (TT)
$500,000 – $6,000,000$150,000 (Minimum loan amount)
Over $6,000,000 – $10,000,000Up to $250,000
Over $10,000,000 – $15,000,000Up to $375,000
Over $15,000,000 – $20,000,000Up to $500,000
Over $20,000,000 – $25,000,000Up to $600,000 (Maximum loan amount)

Yes. You will be able to apply for the loan limit that corresponds to your annual revenue based on the table above.

You will be contacted and given an appointment to visit the branch for disbursement.

Please see checklists for details about all of the documents you will need to submit as part of your application. The checklist varies depending on whether you are a sole trader, partnership or limited liability company.

No, each MSME business is limited to only one loan facility under the Programme.
No, only one MSME business among those operated by connected parties or by companies within a group of connected companies may access a loan facility under the Programme.
When, directly or indirectly, they are controlled by or under common control of the same person or persons. “Person” or “persons” refers to both legal persons such as companies and natural persons or individuals. MSMEs that apply for a loan facility under the Programme will be required to certify that no other MSME with which they have a connection has been granted a loan facility under the Programme.
While this is not expected to occur, where contrary to the conditions of the Programme, different MSMEs operated by connected parties or by companies that form part of a group of connected companies each apply for and are granted a loan facility under the Programme, only the loan facility which was granted first in time shall be recognized a loan under the Programme and as benefitting from the preferential terms accorded to such loans. All subsequent loans will be converted by the relevant participating lender to a commercial loan, and the Borrower shall be required to repay the full entire principal balance and interest. This includes any interest that would have been payable by the Borrower had the loan been subject to the Programme.

No. The facility will be 100% guaranteed by the Government of Trinidad and Tobago.

No. Upon approval of your loan, you will be required to open a First Citizens business chequing account and subscribe to eFirst.

Yes. We take this opportunity to update your existing records with us.

Customers will be contacted within 2 business days of submitting their application. Processing times will vary.

eFIRST is a business online banking platform by First Citizens. Details of the platform can be found here .

THIS LOAN IS AVAILABLE THROUGH FIRST CITIZENS

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