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Micro Enterprise Financing Limited ( 2002 – Present ) |
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Micro Enterprise Financing Limited (MEFL) is a not-for-profit corporation limited by guarantee, dedicated to assisting in the development of micro enterprises in designated urban communities of Jamaica. MEFL was incorporated on May 7, 2002 and is located at 12 Duke Street,
Kingston and three rural branches in the parishes of St. Elizabeth, Westmoreland and St. Catherine.
The general purpose of MEFL will be to make microfinance services available to the low income, urban and rural, micro entrepreneurs with little or no collateral, while branching out to a similar of communities elsewhere in Jamaica in due course. Loans are made at existing micro finance market rates and following standard business practices.
MEFL is sponsored by the Canadian International Development Agency (CIDA), The Bank of Nova Scotia Jamaica Ltd (BNSJ) and Kingston Restoration Company (KRC) BNS provide capitalization in the form of loans to the organization and CIDA provided funding to cover operational start-up cost. KRC is the community agent, assisting with promotion and the identification of suitable borrowers/group of borrowers.
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