Cash Advance Micro-financing Service Limited(CAMFS) was established in October 2018 following years of careful planning and research, fueled by the proprietors’ propensity to assist others in helping themselves.
The minimum length for loan repayment is six month and the Maximum is 5 years.
The minimum interest rate is 20% and the Maximum is 40% under Jamaican law
Example of loan repayment calculation:
Monthly Principal payment: 60,000 / 6 = 10,000
Monthly Interest payment: 60,000 x 4/100 = 2,400
Total Monthly repayment on a Loan of 60,000JMD = 10,000 + 2400 = 12,400
The total Repayment of a loan of 60,000 is 12,400 x 6 months = 74,000
Processing fees are $3000jmd
Business processing fees are $5000jmd
Medium-term loans carry a maximum of 20% monthly depending on each case.
Short-term loans and Long-term carry a maximum of 5 years with 40% per year. The minimum period is 3 years.
Privacy Policy: https://www.cashadvancemicrofinancing.com/privacy-policy/
The minimum length for loan repayment is six month and the Maximum is 5 years.
The minimum interest rate is 20% and the Maximum is 40% under Jamaican law
Example of loan repayment calculation:
Monthly Principal payment: 60,000 / 6 = 10,000
Monthly Interest payment: 60,000 x 4/100 = 2,400
Total Monthly repayment on a Loan of 60,000JMD = 10,000 + 2400 = 12,400
The total Repayment of a loan of 60,000 is 12,400 x 6 months = 74,000
Processing fees are $3000jmd
Business processing fees are $5000jmd
Medium-term loans carry a maximum of 20% monthly depending on each case.
Short-term loans and Long-term carry a maximum of 5 years with 40% per year. The minimum period is 3 years.
Privacy Policy: https://www.cashadvancemicrofinancing.com/privacy-policy/
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