Processing for Applications
- An Account Executive representing the TTTBDL and located in Tobago will assist all customers with their applications to access Facility 1.
- A completed proposal will be submitted by the customer to his/her bank of choice.
- A new loan or loan restructuring is provided by the Commercial Bank in accordance with its normal credit assessment requirements, key of which is the borrower’s ability to repay.
- The commercial bank upon approving the application will then issue its Letter of Offer to the customer and that Letter of Offer will be copied to the Account Executive for submission to the Board of the TTTBDL for consideration and approval.
- The bank will disburse the funds to the client along with the specified Guarantee fee to the TTTBDL upon issuance of the guarantee up to a maximum of $10.0 million for each borrower with up to 50.0% of the outstanding principal and interest balance on existing loan facilities and 100.0% on new loan facilities.