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rates are as follows:
| Type of Loan |
Rate Applicable |
Contribution Required |
| Shelter Development Project |
6.5% |
5% |
| Regular Mortgage |
9.75% |
5% |
| Student |
8% |
Nil |
| Small Business (Up to $10K) |
9% |
10% |
| All other businesses |
12% |
10 - 20% |
| ** Furniture (Max $10K) |
11% |
Nil |
| ** Motor Vehicle (Personal) |
11% |
20% |
The following steps will guide you in your loan application.
1. Pick up a loan application form from any of our offices in Grand Turk or Providenciales.
2. Make sure all questions are answered.
3. Send your application with all the requested materials.
4. Your loan is then processed and reviewed by our Credit Officers.
5. If your loan is approved, you are sent an offer of loan letter setting out the terms and conditions of the loan. You
have thirty (30) days to review and sign the letter which acts as your acceptance of our offer. The letter must be
returned to us with all relevant materials that is required before disbursement can commence. Our lawyers will then
prepare the loan agreement between TCInvest and yourself.
6. If, however for some reason your loan is rejected, you are advised of this fact within 3 (three) working days. Our
Credit Officers will then discuss with you the reasons for rejection and advise you on how to improve your application
with a view to applying again.
All prospective loan applicants are required to provide TCInvest with the following documents: -
1. Business Plan
2. Current Business License
3. Copy of photo ID of borrower along with copy of Birth Certificate
4. Recent copy of Land Register relative to the title being offered as security
5. Valuation on property being offered as security
6. Projections of income and expenditure for the next three years for new and existing business
Details of income and expenditure for the last three years for an existing business
7. If applicant is insured, a copy of Life Assurance Policy
8. If property is insured, a copy of fire, all Perils Insurance Policy
9. An up-to date copy of personal and/or business loan account
10. An up-to date copy of personal and/or business bank account to which salary/wages/income/sales are being lodged.
11. Bankers Report on the conduct of personal and/or business account from the Commercial Banks (the relative forms
to be provided by the Agency)
For more information please contact us at:
TCInvest TCInvest
Hon L. Headley Durham Building Town Hall Mall
Church Folly, Grand Turk or Downtown, Providenciales
Tel: 946-2058 Tel: 941-8465
Fax: 946-1464 Fax: 941-8467
Email: tcinvest@tciway.tc Email: tcinvestpls@tciway.tc
Website: www.tcinvest.tc
