How It Works

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Voucher Process Flow Diagram (AFI)

Voucher Process - AFI

  1. The entrepreneur goes to a financial institution to apply for a loan. See a full list of approved financial institutions.

  2. The Loan Officer assesses the application and finds that although the entrepreneur has a good credit rating, adequate collateral and enough equity, there are gaps in the management capacity of the business.  It may be a case that there is no (or inadequately prepared) business plan, marketing plan, or financial statement, or the principals/management team will require training in financial literacy, business coaching and or mentoring. These are essential for convincing the officer that the business will be properly managed in order to be able to repay the loan.

  3. The Loan Officer recommends the appropriate capacity business support service which will improve the application and the entrepreneur’s chance of accessing a loan. See a full list of approved Business Development Organizations.

  4. The entrepreneur will choose a Business Development Organisation (BDO) to provide the service recommended and make arrangements for accessing the service. See the acceptable forms of identification to take to the BDO.

  5. The BDO will then discuss the scope of assistance with the entrepreneur and both will decide/agree on the cost of the service which should fall within the range listed. 

  6. Entrepreneurs will pay no less than 30% of the cost of the service.  The DBJ will pay 70% of the cost of the service or the value of the voucher, whichever is less.  If the entrepreneur so desires, he/she may access services which cost much more than the voucher amount and make their own arrangements for payment.

  7. After receiving the service, the entrepreneur will return to the financial institution with better information for a loan application as well as better tools with which to manage their businesses.

Voucher Process Flow Diagram (Online Applications)

Voucher Process - Online Applications

  1. Entrepreneurs retrieve application form on voucher website – www.dbjvoucher.com
  2. Completed form is submitted to voucher@dbankjm.com 
  3. The client  receives an automatic email confirming receipt of application (this is not a voucher)
  4. The project manager may interview the client, regarding the information in the application
  5. Project manager evaluates the applications and either approve or deny the request via email.
  6. If approved, a voucher is emailed to the client.
  7. The client redeems the voucher at a BDO of his/her choice
  8. The project manager will follow-up with clients to track the progress of their business.
  9. The client’s business should be improved by the services and may use the resulting document to improve access to financing.

MSME Selection Criteria

The project manager will use the following criteria to determine if the applicant is issued with a voucher:

  • Entity is registered with the Companies Office of Jamaica and has valid Tax Compliance Certificate (TCC).
  • The business entity has not previously received 2 vouchers within the last 2 years.
  • The entrepreneur has demonstrated that the vouchers will have the potential to improve his/her business operations and strategy; for example:
    • Assist the recipient entity to grow (increase revenues, allow recipient to access new markets etc.)
    • Allow recipient to export/increase exports
    • Increase employment 
    • Increase  production and efficiencies
    • Expand the business operation ( e.g. add new location/branches)
    • Attract investment or loan.

Note: Vouchers are awarded on a first come, first served basis.

Services to be offered by BDOs to SMEs:

Voucher Services Value
1 Training Programmes $50,000
2 Financial and Accounting System $100,000
3 Management Consulting $100,000
4 Branding $100,000
5 Certificates of Analysis $100,000
6 Testing and Calibration $100,000
7 Sale of Standards $100,000
8 Product Formulation $100,000
9 Shelf-life Studies $100,000
10 Packaging (Selection and Testing) $100,000
11 Nutrition Labelling Development $100,000
12 Nutritional Labelling Development $100,000
13 Financial Statements $200,000
14 Marketing and Promotional Plan $200,000
15 Web-based Marketing Package $200,000
16 Business Plan $200,000
17 New Product Development $200,000
18 Market Research $200,000
19 Auditing Services $200,000
20 Mentorship and coaching $300,000
21 Strategic Plans $300,000
22 Certification Services $300,000
23 HACCP - Food Safety Analysis $300,000
24 Factory Layout $300,000
25 Waste Water Management System $300,000
26 Business Process Improvement $300,000
27 Registration of Patents* $500,000

Note: DBJ will pay to the BDO, the value of the voucher or 70% of the cost of the service whichever is lower.

*Limited quantities