NDFD introduces Green Loan

George Challenger (r) Juanita Casey – NDFD business Development Officers

The National Development Foundation of Dominica (NDFD) has introduced a specific loan product to its clients called the Green Loans designed to help reduce their energy bill and at the same time help save the planet.

George Challenger, who is one of the longest serving Business Development Officers at NDFD, said the loan amounts range from $1000 to about $15,000 at an interest rate of 6.5% and above $15,000 to a maximum of $150,000, the interest rate is about 8% on a reducing balance.

He said business owners, farmers, shop and bar owners specifically looking to purchase energy equipment, and fisherfolk, can qualify for that loan.

“The Green Loan is specifically designed to help consumers reduce their energy bill which will help them save at the end of the month and at the same time help save the planet,” he said. “Why green? Green speaks about the reduction in the contribution of carbon footprint, because of climate change, because of Tropical Storm Erika and Hurricane Maria.”

According to Challenger, the basic requirements in obtaining that loan are two government ID’s – a social security card, driver’s license or a valid passport – as well as a job letter for employed persons, and financial statements for business people.

“The invoices have to be specifically for energy efficient appliances, for example solar panels, four stroke outboard motors,” he stated.

Challenger said if one is into business, their business must be registered.

“In terms of a fisherman, he would have to bring in his fisherman’s ID card,” he stated. “They would have to get a recommendation letter from the fisheries division.”

He said credit reports and other requirements will be available at the NDFD office and its Facebook page.

Challenger made it clear that the total cost of the project must be 50% green energy.

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5 Comments

  1. Tom
    April 8, 2021

    I understand what Man bites dogs is saying, but we in Dominica need to communicate in a more friendly, less hostile and insulting manner.

    When I started reading the article, I found it a good and interesting idea, however, when I read the interest rates, I thought, our financial and small business developmental institutions in Dominica are not truly serious about helping small businesses. This green loan initiative is one such example. This green loan is really designed for well established business and a great revenue generating plan for NDFD.

    Generally, my view is that NDFD is structured to help capable or established small businesses. Their programs, even their seminars do not cater from the small businesses that really need their help.

    As far as I am concerned, NDFD needs to restructure their business goals and objectives if there are to truly and meaningfully help the small business sector in our beloved Dominica.

    Well-loved. Like or Dislike: Thumb up 7 Thumb down 1
  2. Bighead
    April 7, 2021

    Are you serious, at 6.5 percent. How is NDFD encouraging person’s to invest in Green?

    Well-loved. Like or Dislike: Thumb up 7 Thumb down 1
  3. Man bites dogs
    April 7, 2021

    I could smell a rat 🐀 and that smell is awful, that green so-called energy loan is a con in other words a loan shark 🦈 people should keep away from that crap! How on earth could a loan reduce your energy bill and at the same time save the planet Rubbish do not believe that crap if you need off a good secured loan go to the bank for help.

    • weh
      April 8, 2021

      Dogs im suprised your not praising the PM for this loan?

      • Man bites dogs
        April 8, 2021

        Weh, if i see something is wrong I will say so regardless of what, but I would not support Lennox Linton, and his nasty attitude against Pm. Dr Skerrit and my beloved Dominica 🇩🇲..

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