What is the maximum & Minimum loan I can borrow?

The Loan amount ranges from J$5000 to $1.5million.

What are the interest rates on Personal Loans?

Interest rates ranges from 2% to 25% per month.

What are the interest rates on Business Loans?

Interest rates rages from 2% to 13% per month.

Do you offer unsecured loans?

E-Loan offers unsecured loans from $5000 to $600,000.  If a customer’s employer facilitates salary deduction, they can access the maximum of $600,000.  If the customer does not have salary deduction facilities, they can access a maximum of $50,000 in unsecured loans via standing order/direct debit instructions only.  Note new customers can only access a maximum of $35,000 in unsecured loan facilities and repeat customers up to $50,000 via standing orders or direct debit once salary deduction facility is unavailable.

Do I have to have a guarantor in order to access a loan?

At E-loan some loans require guarantors while others do not.  Loans under $50,000 do not require guarantors once they are salary deduction or if they are standing order loans.  In addition to this, some secure loan do not require a guarantor depending on the assets used.   Speak with our representative for additional details.

All payments are done online through the website.
If you wish to tip your driver in cash you can do so at your own free will. (This is not

What are the requirements to access a loan?

The basic loan requirements will include your:

  • 2 Passport sized photographs of all applicants / co-applicants.
  • Valid identification: (National ID, Driver’s License, Passport, Jamaica ID Card
  • Tax Registration Number (TRN)
  • Proof of address
  • Bank Statement
  • Guarantor (person to sign) Needs TRN, ID, 1 Passport size picture, 1 Last payslip & Job Letter
Each loan type will require different elements from this list, see the list below base on the type of loan you seek.
What are the different Loan Products you offer?

E-Loan Micro Financing Ltd offers: Furniture and Appliances Loan, Salary Deduction Loan, Motor Vehicle Secured Loan, Pawn Broking Loans and Unsecured Loans.

What are different types of loans a customer can access?

Personal loans, business loans, consolidated loans, debt forgiveness loans, back to school loans, party loans, bridge financing loans, home renovation loans, construction loans, inventory loans, credit card loans, home deposit loans, events planning loans.  We customise all types of loans to suit your everyday dynamic needs.

How long do I have to be employed to qualify for a loan?

E-loan customers can be employed for as low as three weeks to be qualified for a loan, specifically a New Rookie Loan whether secured or unsecured once the customer receives their salary through a bank account such as NCB, Scotia or JN Bank or if their company facilitates salary deduction.  Otherwise, the average employment period is 4-months.

How long does it take to get a loan?

98% of our Loans are same day loans with the exception of Business Loans and Motor vehicle loans, these types of loans usually take 3-days to one week, given the fact that the customers have to visit several other institutions such as banks, insurance companies and the tax office to collect the necessary documents required to process the loan.

How do I receive my cash or loan proceeds?

E-loan customers can request an electronic bank transfer or a cheque.

What is the maximum repayment time on the loan?

The maximum repayment time is 36-months or 3-years.   Customers can access loans for even One day, a week or a month at their own discretion. 

Can my Friend or family member receive the proceeds of the loan on my behalf?

At E-loan your friends, family, spouse or trustee can collect your loan proceeds once you sign an indemnity letter and instructs us to make the loan proceeds payable to that individual or company.

Do you offer Mobile Loan services?

At E-loan if you are time constraint, we can take your loan to you on spot at your place of employment or home depending on your location.  It takes approximately 5-minutes to process you on spot.  Otherwise, we can send an electronic disbursement without you coming into office.  As about our mobile loan today.

Can I close out my loan before the due date?

At E-loan you reserve the right to close your loan at any time most convenient to you even 3-days after commence of the loan or earlier if you so desire, with an option to ask for a rebate.

What is a Rebate?

This is an early closure discount that all E-loan customers can access once they close out a loan before its maturity date, given that the loan is closed out half way before its due date or before it reaches the 50% mark. The customer must request this service in order to receive it.

Do you offer Interest Free Loans?

At E-loan you can access interest free loans once you return the full Principal by next business day.  Otherwise, up to 3-days to repay the principal plus $3000.00 given, the loan amount is $100,000 or less.  If the loan amount is over $100,000 then return the principal plus $5000 to close the loan irrespective of what you initially sign to repay. 

What benefits do you offer to delinquent customers?

If a customer’s loan should go into a critically delinquent state, E-loan offers several remedies to redeem the customer’s credit, payment status and credibility.  This customer can access a Frozen loan, Re-set loan or Reconstruction loan to help them manage their debt.  The Frozen loan will stop the daily interest and give the customer an extend period to make an affordable amount of their choice base on the current income, in addition it eradicates all daily late fees, but adds a yearly breach of contract fees and maturity breach fee.  The Re-set loan restores the customer to their original installment along with an extended period to repay but does not eradicate upcoming late fees on missed payments.  The re-construction loan reconstructs the outstanding loan and its late fees to an affordable rate that the customer can manage but does not eradicate any new late fees.  Call office for details.

Do you have a customer referral Programme?

At E-loan for every customer you refer you Earn$3000 given that the loan is above $100,000.  All loans under $100,000 will pay-out $1000 as referral incentive.   For a BONUS of $10,000 refer 3-customers at once that access over $100,000.00 each and receive $10,000 in cash referral instead.

Do you Accept Physical assets as security?

You can utilize gold jewellery, laptop or a flat screen television to access a loan if you are unable to meet the general requires.  This is called a Pawn Broking loan where you can leave your assets and walk away with cash.  Special approval can be made for other items of security, with Management’s approval, speak with your representative for more details.

What are your opening hours?

Our opening hours are Mondays through Fridays 8:30am to 4:30pm.

How can you contact us?

We can be reached at:


Mobile: 876-433-6471


We Offer 5 Types of Loan Products.
E-Loan Micro Financing Ltd offers five types of Loan Products and two specific services to our growing client base which constitutes the county of Cornwall spanning the parishes of St. James, Trelawny, Hanover, and Westmoreland.