Bahamas - Apply for Loan in Bahamas Development Bank

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Procedure

Apply In-Person

1. The applicant shall submit an application along with the Project Summary to the Bahamas Development Bank.
2. Visit the following link for Contact Details Contact Link.
3. The application can be downloaded from the following link Project Summary Form, Personal Statement of Affairs Form
4. Complete the application form with all details.
5. After filling in all the details, submit the application form along with the supporting documents as mentioned in the “Required Documents” section to the Bahamas Development Bank.
6. The applicant will receive a call from the bank officer within 24 hours, for additional information.
7. The applicant can also fix an appointment with the bank to discuss on the project.
8. The applicant will be asked to submit various supporting documentation once the project request has been confirmed to be eligible.
9. A business plan is normally required for proposals over $20,000.
10. Once the applicant submits the requested documents to the bank, the applicant shall receive a response between 30 to 45 days.

Apply Online

1. The Applicants can make their loan request online also.
2. The applicant shall email the application to [email protected].
3. The application can be downloaded from the following link: Project Summary Form , Personal Statement of Affairs Form.
4. Complete the application form with all details.
5. After filling in all the details submit the Application Form along with the supporting documents as mentioned in the “Required Documents” section to the email id, [email protected].
6. The applicant will receive a call from the bank officer within 24 hours, for additional
7. The applicant can also fix an appointment with the bank to discuss on the project.
8. The applicant will be asked to submit various supporting documentation once the project request has been confirmed to be eligible.
9. A business plan is normally required for proposals over $20,000.
10. Once the applicant submits the requested documents to the bank, the applicant shall receive a response between 30 to 45 days.

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Required Documents

• Nationally identification document
• character and Bank references
• For other required documents please visit the below link: Checklist Link.

Office Locations & Contacts

Bahamas Development Bank
Cable Beach, West Bay St.
P. O. Box N - 3040
Nassau, N.P., The Bahamas
E-mail: [email protected]
Phone: (242) 702-5700 (Nassau)
(242) 352-9025/6 (Freeport)
Fax: (242) 327-5047 (Nassau)
(242) 352-4166 (Freeport)

Contact Address Details Link: Contact Link

Eligibility

The following are the eligibility criteria for various business structures:
Sole Proprietorship (Business is owned by a single individual)

• Bahamian citizens who are residing in the Bahamas and minimum age of 18.

Partnerships/Joint Ventures (Business is owned by two or more persons)

• Bahamian citizens who are residing in the Bahamas and minimum age of 18, and must own 60 percent of both the controlling and profit-sharing interests.

Limited Liability Companies (Incorporated under the Companies Act of the Bahamas)

• Bahamian citizens who are residing in the Bahamas and minimum age of 18 and at least 60% controlled and profit-sharing interests.

Fees

The Applicant will receive an estimate of all fees from the Officer, in addition to it a small application fee, along with an Administration fee, will also be charged.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Application Form Link: Link1, Link2

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

The applicant will receive a response within 30 to 45 days after submitting the required documents to the Bank.

Related Videos

Videos explaining the procedure or to fill the applications. 
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Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
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e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

• Name
• Date of Birth
• Age
• Marital Status
• No. of Dependents
• National Insurance No.
• Date of Expiry
• Passport No
• Date of Expiry
• Name/Address/ Contact of the Land Lord
• Previous address
• Spouse Name
• Date of Birth
• Next Kin/Address/Contact/Relationship
• Next Kin/Address/Contact/Relationship
• Name of Bank /Financial Institutions where the applicant has any judgement /legal Proceedings
• Previous Borrowing detailed information
• Name of the Employer
• Telephone
• Employment date
• Present annual Salary
• Occupation
• Position
• Previous Employment details
• Detailed financial information

Need for the Document

It is required to apply for a loan with the Bahamas Development Bank.

Information which might help

Website Link

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Place some external links which might help.

Others

More information which might help people.