Wed Sep 11 05:06:00 UTC 2024: ## DBJ Launches “TOOL” Roadshows to Empower Jamaican Tradespeople

**Kingston, Jamaica** – The Development Bank of Jamaica (DBJ) is kicking off the first phase of its Tradesperson Ownership Opportunity Loan (TOOL) roadshows in Kingston today. These events, running until Friday, will bring the DBJ’s latest initiative directly to entrepreneurs and tradespeople across the island.

The roadshows will feature special discounts on tools for various trades from partner suppliers like Delta Supply Company, K-Ban Hardware, and Total Tools. Attendees will also have the opportunity to interact with microfinance institutions (MFIs) offering TOOL loans, including EXIM Bank, LASCO Microfinance, and JN Bank.

“This is an excellent opportunity for Jamaica’s tradesmen and tradeswomen to learn first-hand about the financial resources available to them,” stated DBJ General Manager David Wan. “We aim to create an environment where contractors can easily access the funding they need to grow their businesses.”

The TOOL program provides loans of up to $500,000 to specialized and independent contractors in areas like tiling, plumbing, carpentry, and hairdressing. The funds can be used to acquire essential tools, boosting productivity and business expansion.

With approximately $100 million allocated, the program is expected to benefit over 200 artisans. The DBJ Credit Enhancement Facility (CEF) offers partial credit guarantees for the loans.

Beyond financial support, the roadshows will provide access to financial literacy training through the DBJ’s GEMINI program and registration opportunities in the HEART/NSTA Trust skills bank.

“The TOOL program is a crucial step in empowering our local tradespeople by providing them with the necessary resources to enhance their operational efficiency and business growth,” Wan emphasized. “By enabling these tradespeople to acquire vital tools and equipment, we are contributing to the broader economic development of this industry, creating more jobs and opportunities.”

Read More