Scotia to enter the microfinance market in Jamaica, lending between $60,000 to $850,000

Scotia Bank

Scotia Group Jamaica Limited (Scotiabank Group), the parent company of The Bank of Nova Scotia Jamaica Limited (BNSJ) has established a subsidiary company that will provide lending products to the microfinance market in Jamaica. The company – Scotia Jamaica Microfinance Company Limited – will trade as CrediScotia and begins operations on Tuesday, November 1, 2011. CrediScotia will provide loans from a minimum of $60,000 to a maximum of $850,000 to micro entrepreneurs involved in the manufacturing and trading of goods and services.