Scotiabank Growth Fund II fully subscribed

Scotiabank Jamaica's J$500 million Productive Sector Growth Fund II was fully subscribed at mid-January, the bank said Tuesday.

The loans, ranging from J$2 million to J$20 million, were priced at 8.95 per cent.

Scotiabank said nine per cent of borrowers were start-up businesses, which were allocated a total of J$50 million.

Subscriptions opened in April 2011. The top two categories of borrowers were from the manufacturing and agriculture sectors, the bank said.

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