Citibank® N.A. (Jamaica) offers a variety of short, medium and long-term financing alternatives available in local and foreign currency which are delivered to our target market clientele based on established credit appetite.
Our loan structures typically fall into the following categories:
Uncleared Effects Facility
- Description: This facility may be requested by customers who need to draw against cheques deposited to their accounts before the clearing period has expired. Clients who anticipate requiring such a facility should discuss this with the Citi® Officer at the time of the opening their deposit accounts.
Overdraft Facility
- Description: Customers who expect to need temporary credit from time-to-time to buffer the variability of their cash inflows may request this type of facility.
Short-term Working Capital
- Description: Working capital facilities may be requested to obtain short-term liquidity or fund current assets. Such financing may be structured in a variety of ways including receivables financing, payables financing and loans linked to the purchase of inventory.
- Pricing: An initial fee, usually expressed as a percentage of the Loan. The interest rate may be a specific rate (which may be adjusted from time to time by the Bank), or a floating rate.
Term Lending/Project or Corporate Finance
- Description: Available in local and United States Dollar finances capped at 5 year tenors for United States Dollars facilities. These facilities usually include, structuring fees and are priced according to the customized financing structure appropriate to the industry and or market conditions. Larger facilities may be syndicated, locally, regionally or internally.
- Pricing: Subject to current market conditions. Interest rates may be quoted on a fixed or floating rate basis.