General Loan Requirements
The most recent Salary Slip from your place of employment.
Credit Reports from Financial Institutions and various business houses.
Appraisal fees to be paid to the NDFD and this is dependent on the size of the loan
Stamp fees to be paid to the Government of the Commonwealth of Dominica.
Requirements based on Loan Size
- Cash deposit or Letter of lien on fixed cash deposits at other Financial Institutions.
- Certificate of Title – Letter of undertaking from solicitor when Certificate of Title (COT) will be security and COT is being processed. A Property valuation is also required for use as security.
- Assignment of Life Insurance to the National Development Foundation of Dominica (NDFD) Limited.
- Bill of Sale on equipment.
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Requirements based on Loan Type
Government Constriction Contracts
- Construction contracts
- Estimates of building works.
- All contract proceeds to be assigned to the NDFD
- Proforma invoice.
- Lease agreement for owners who require to rent for business operations.
- Report from Extension officer at the Ministry of Agriculture
- Estimates for job to be undertaken.
- If a sales contract has been secured, authorization on sales of proceeds will be required.
- If loan is required for the construction of housing for livestock, approval from Physical Planning Division and estimates for the construction of the animal house is required.
- Letter of acceptance from Education Institution.
- Invoice of fees to be paid from the Education Institution.
- Salary deduction.
- Estimates for the refurbishing of work.
- Salary deduction.
- Recommendation letter from the Fisheries Division.
- Business owners must work closely with the Bureau of Standards prior to seeking financing from the NDFD.
- Lease agreement for owners used as who require to rent for business operations.
- For the purchase of new vehicle: 15% cash deposit, Bill of sale on vehicle, Full comprehensive Insurance. Other forms of security can be provided.
- For the purchase of used vehicle: 20% cash deposit, Bill of sale on vehicle, Other forms of security can be provided.
- Proforma Invoices for the purchase of goods and services.
- Proforma invoices must be provided.
- Loan must be paid via salary deduction.
Expansion of Business
- Financial statements of your business for the past year.
- Lease agreement from prospective borrower where a property is being rented for business operation.
Purchase of assets - Vehicles, Land, etc.
- Letter of intent to sell for the purchase of assets already owned.
- A Property valuation is required for the purchase of property or the use of same as security.
- Hire purchase agreement for Hire Purchase loans.