JN Small Business opens Black River branch

JN Small Business Loans Limited (JNSBL) has opened a branch in Black River, St. Elizabeth as part of a strategic move to serve a larger segment of the growing micro and small business sector in that and neighbouring parishes.

The branch was officially opened at Shop 3, Chang’s Plaza earlier today, bringing to three the number of JNSBL locations in St. Elizabeth, according to a release from the company.

The new Black River branch is one of three new JNSBL branches officially opened since July, increasing the total number of branches across the island to 29. The other two branches were opened in Half Way Tree, St. Andrew and May Pen, Clarendon.

Frank Whylie, General Manager, JNSBL explained that the expansion of the company’s network will allow clients to conduct business away from banking halls, which are sometimes crowded.

“Manchester, St. Elizabeth, Clarendon and the Corporate Area are among the largest and busiest regions, where our loan portfolio continues to perform well,” Whylie said.

“Our surveys also point to a growing number of entrepreneurs in these areas, who are in need of financing at favourable rates,” he added.

Whylie said clients may continue to make payments through the Jamaica National Building Society and post offices using the JNSBL Eezy Pay swipe card system.

However, “the new branches will provide a more comfortable setting in which micro entrepreneurs can apply for our loan products,” he said.

JNSBL has increased its cadre of field officers to facilitate the expansion.

According to the release, last year JNSBL disbursed more than 24,630 loans valued at J$2.1 billion after it increased the loan amount under its BizGrow facility and reviewed its repayment terms giving clients more flexibility to pay back.

The company also added a loan product to cater to persons’ needs beyond their businesses. These include education financing, weddings, funerals and other personal activities.

The company also recently introduced a motor vehicle loan product, offering financing for vehicles up to eight years old.

business@gleanerjm.com