The largest loan that the FND can offer is $100,000 EC.
The size of the loan you receive depends upon your needs, the type of the loan and the level of risk specific to your project. Loan repayment plans can extend anywhere from one year to seven years.

• Eligible borrowers include individuals, partnerships, corporations and cooperatives involved in viable new or ongoing economic activities
  
• The applicant must be 18 years of age, possess a reliable character and be a citizen of St. Kitts & Nevis
  
• The project to be funded by the loan must be based in St. Kitts & Nevis
  
• The loan must not be personal in nature

Your Projects Officer is your primary contact at the FND. He/she is responsible for processing and recommending your loan request, monitoring the development of your project and ensuring that loan payments are made. Your Projects Officer will become intimately familiar with the details of your project through discussions at the FND and through visits to your work site.
If you have any needs with respect to credit counseling, training or business planning, inform your Projects Officer. The FND has extensive contacts and resources and may be able to help.

If you satisfy the loan eligibility criteria, you will need to visit the FND offices in Basseterre or Charleston for a one-on-one interview with a Projects Officer.
The Officer will informally discuss your loan request to get a feel for you and your project. Once this preliminary discussion is over, there are a series of forms you need to fill out. Click on the hyperlinks below to download them in Word format.

• Loan balances
  
• Savings balances
  
• Invoices pertinent to the project
  
• Financial Statements if applicable and available
  

• The credit history of the applicant
  
• The personal background of the applicant
  
• The capacity of the business to generate income sufficient to make loan repayments and turn a reasonable profit
  
• The salary and pre-existing obligations of the applicant
  
• Types and levels of collateral

Specific types of loans are dealt with differently by the FND to reflect varying levels of risk.
Read on to see if the FND has already created a special category of loan to match your needs.

The FND will retain title (the bill of sale) to the vehicle until the loan is repaid

The vehicle must be comprehensively insured, or else the repayment period may not extend beyond twenty-four months

Loan payments for new vehicles may extend for a maximum of sixty months and the applicant must pay for at least 15% of the purchase price

Loan payments for used vehicles may extend for a maximum of forty-eight months, the applicant must pay for at least 20% of the purchase price and the vehicle must be assessed by an approved assessor.

Given the rising importance of computers, the FND has a special loan set up to assist nationals purchase computer equipment. Purchases of peripheral devices, as well as personal computers, are eligible for this loan. Loan amounts are typically $5000 EC to $6000 EC, although larger loans may be disbursed on a case-by-case basis. Loan repayments must be made through automatic deductions from (i.e. garnishment of) the borrower’s salary.
If the applicant does not have a salary, a friend’s may be substituted.

The purpose of the FND’s Affordable Education Loans is to assist students who are unable to immediately afford the costs of primary, secondary and tertiary education. The maximum value of the loan is $20,000 EC. Persons eligible for the loan shall be holders of certificates issued by the Ministry of Education or shall be assessed by the FND as unable to immediately meet the full cost of the course. Loans may be approved for:

• Undergraduate programs (first degree)
  
• Approved courses through distance education
  
• Post-graduate courses
  
• Study tours, skills training and attachments at approved institutions
  
• Diploma, certificate or other courses at approved institutions
  

• The student must present a letter of acceptance to the FND
  
• The student shall attend the educational institution and pursue the program of study for which the loan was made
  
• Any transfer contemplated from the agreed educational institution must be approved by the FND
  
• The student shall inform the FND of any change in address effected during the period of the loan
  
• The FND shall be entitled to receive progress and performance reports on the student from the educational institution
  
• The student is required to work in St. Kitts & Nevis for at least one year