NEED SOME
IDEAS FOR YOUR
BUSINESS?

Speak to us at BDB.
We are here to help.

OUR SUCCESS CONTINUES,
37 YEARS SUPPORTING BAHAMIAN BUSINESSES!

How Do I Get An Advance Loan

HOW DO I GET AN ADVANCE LOAN?

Applying for a loan with the Bahamas Development Bank is a simple process once all the required documents have been presented to your Customer Service Credit Officer.


Definition

  • An Advance Loan is a short term loan (1 – 18 months) that is made available to existing customers of the Bank. It is usually unsecured but can be secured by assets already pledged to the Bank.

Eligibility

  • You must be an existing client to qualify for an Advance.

Process

  • Simply contact your Officer and provide the necessary supporting documents, if applicable. The Bank will review the status of your current loan with the Bank.

Application form

  • A written request is required. You may also be asked to providecurrent financial records, as well as other documents to support your request.

Turn-around time

  • An advance loan usually takes less than 48 hours to process.

Related fee(s)

  • Currently, the minimum fee is $50.00. For loans over $100,000, you are charge 1.25% of the Advance amount. For loans under $100,000, and fee reduces to 1.00%.