NDFD tutorial REQUIREMENTS FOR A LOAN

NATIONAL DEVELOPMENT FOUNDATION OF DOMINICA OFFICE:NDFD Building 9 Great Marlborough StreetP O Box 313, RoseauCommonwealth of DominicaTelephone:(767) 448-8631(767) 448-3240(767) 449-8141

Telefax: (767) 448-0225ndfd@cwdom.dm

General Requirements The most recent salary slip from your place

of employment.Credit Reports from Financial Institutions

and various business houses. Appraisal fees to be paid to the NDFD and

this is dependent on the size of the loan.Stamp fees to be paid to the Government of

the Commonwealth of Dominica.

Requirements based on size of the loan GuarantorCash deposit or Letter of lien on fixed cash

deposits at other Financial Institutions. Certificate of Title - Letter of undertaking from

solicitor when Certificate of Title (COT) will be security and COT is being processed. A Property valuation is also required for use as security.

Assignment of Life Insurance to the National Development Founda tion of Dominica (NDFD) Limited.

Bill of Sale on equipment.

REQUIREMENTS BASED ON TYPE OF LOAN GOVERNMENT CONTSTRUCTION

CONTRACTS Construction contractsEstimates of building worksAll contract proceeds to be assigned to the NDFD

DISTRIBUTIVE TRADEPerforma invoiceLease agreement for owners who require to rent

for business operations.

REQUIREMENTS BASED ON TYPE OF LOAN AGRICULTURE Report from Extension officer at the Ministry

of AgricultureEstimates for job to be undertakenIf a sales contract has been secured,

authorization on sales of proceeds will be required.

If loan is required for the construction of housing for livestock, approval from Physical Planning Division and estimates for the construction of the animal house is required.

REQUREMENTS BASED ON TYPE OF LOAN EDUCATION Letter of acceptance from Education

InstitutionInvoice of fees to be paid from the Education

InstitutionSalary deduction

HOME IMPROVEMENTEstimates for the refurbishing of work.Salary deduction.

REQUIREMENTS BASED ON TYPE OF LOAN FISHINGRecommendation letter from the Fisheries

Division.

MANUFACTURING/INDUSTRYBusiness owners must work closely with the

Bureau of Standards prior to seeking financing from the NDFD.

Lease agreement for owners used as who require to rent for business operations.

REQUIREMENTS BASED ON TYPE OF LOAN SERVICESA vehicular survey report is requiredFor the purchase of new vehicle: 15% cash

deposit, Bill of sale on vehicle, Full comprehensive Insurance. Other forms of security can be provided.

For the purchase of used vehicle: 20% cash deposit, Bill of sale on vehicle, Other forms of security can be provided.

Proforma Invoices for the purchase of goods and services.

Lease

REQUIREMENTS BASED ON TYPE OF LOAN MISCELLANEOUSPerforma invoices must be provided. Loan must be paid via salary deduction.

EXPANSION OF BUSINESS Financial statements of your business for the

past yearLease agreement from prospective borrower

where a property is being rented for business operation.

REQUIREMENTS BASED ON TYPE OF LOAN PURCHASE OF ASSETS-(vehicles, land,

etc)Letter of intent to sell for the purchase of

assets already owned. A Property valuation is required for the

purchase of property or the use of same as security.

HIRE PURCHASEHire purchase agreement for Hire Purchase

loans.