DBJ Embarks on Business Builder Campaign

The Development Bank of Jamaica (DBJ) has embarked on its ‘Business Builder’ campaign, aimed at increasing awareness of the bank’s diverse funding options designed to support the growth and sustainability of businesses across Jamaica.

This initiative, which began in June, underscores the DBJ’s commitment to fostering innovation, supporting sustainable development, and empowering micro, small, and medium-sized enterprises (MSMEs).

General Manager for Channels, Relationships, and Marketing at the DBJ, Edison Galbraith, tells JIS News that one of the standout features of the Business Builder campaign is its focus on making it easier for farmers in rural communities across Jamaica to access the necessary funds to enhance their operations.

“We have a dedicated product, which is our Agriculture loan. We call it ‘Agri Biz’, where we provide financing of up to $30 million, making it available to farmers in rural communities all across the island,” he says.

Mr. Galbraith notes, further, that in addition to direct financing, the DBJ also offers a Credit Enhancement Facility (CEF), which provides guarantees of up to 90 per cent on loans below $10 million.

“The collateral support takes out some of the risk, so it makes it easier for the farmer to access the funding,” he explains.

The DBJ’s strategy involves building strong partnerships with various stakeholders, including microfinance companies, local farm stores, and tool suppliers.

These partnerships are crucial in creating a robust support network for farmers.

“We work with local farm stores; we work with even some of our tool suppliers under the tool programme, where they’re providing tools for farming, whether it’s for tilling or other purposes,” Mr. Galbraith points out.

The DBJ also partners with the Jamaica Agricultural Society (JAS) to reach farmers directly in their communities.

This hands-on approach ensures that the DBJ’s services are accessible to those who need them the most.

“Our officers go to meetings in local communities, we’re in touch with the JAS and over 30 of its member associations, whether pig farmers, egg farmers or others. So that’s how we work to get the products out to farmers,” Mr. Galbraith adds.

Meanwhile, Acting General Manager of the DBJ, David Wan, tells JIS News that beyond agriculture, the Business Builder campaign is designed to spread awareness about the support available to a wide range of MSMEs.

“We have been fairly low-profile for several years and we are now saying to the entire public, even though we don’t have loans for individuals, it’s to small, medium and even large business. We see ourselves as the business builder,” Mr. Wan says.

He adds that by leveraging the DBJ’s resources, businesses can contribute to the economic growth and development of Jamaica.

Mr. Wan is calling on all business owners, from small enterprises to larger businesses, to take advantage of the opportunities provided by the Business Builder campaign.

“Whether it’s capacity-building, whether it’s loans, whether it’s credit guarantees, whether it’s investments into government privatised assets, we want everybody to take advantage of the services we offer, so we can continue to make this contribution to the Jamaican economy by building and strengthening businesses,” Mr. Wan tells JIS News.

The DBJ, established in 2000 through the merger of several development-related institutions, plays a crucial role in stimulating economic growth and development across various sectors.