Favourable
Terms
Interest subsidy for new and restructured loans of 5.0 percentage points provided by the Government and funded by the Tobago Tourism Development Fund.
Long Term Investment
Long maturity period of fifteen (15) years provided by the financial institutions.
Enhanced Cash Flow
Comfort that usage could be enhanced with the change in the terms and conditions of the lending.
ABOUT THE FUND
In response to the difficulties, including falling visitor arrivals, faced by some hotel and hotel-related businesses in Tobago following the 2008-2009 global financial crisis, the Government instituted a framework for maintaining the lending operations of banks for the tourism sector.
In June 2012, the Government established the Trinidad and Tobago Tourism Business Development Limited (TTTBDL) to administer the Tobago Tourism Development Fund and assigned the responsibility for managing the TTTBDL to the Export-Import Bank of Trinidad and Tobago Limited (EXIMBANK).
FUND CRITERIA
Established
Operating as a business in the tourism sector for three (3) years in Trinidad or Tobago.
Existing Loans
We are targeting businesses currently servicing existing debt for at least twelve (12) months over the past three (3) years.
Employment
Job Creation is a key component of our efforts in developing tourism. Applicants should be employing a workforce of at least five (5) persons.