Sun | Nov 18, 2018

JNSBL and JN Money support PAN entrepreneurs

Published:Friday | September 14, 2018 | 12:00 AM
Horace Hines (second left), general manager, JN Money; Kemoi Burke (third left); and Gillian Hyde (centre), general manager, JNSBL, make the official presentation to last year’s PAN grand champion Eric Beaver (third right) along with representatives from National Baking Company and Red Stripe.

In keeping with the true entrepreneurial spirit that is embodied by the annual PAN food festival, JN Small Business Loans (JNSBL) and JN Money have continued their support of the event.

PAN 2018, hosted by CB Foods, is proud to partner with the financial institution to help develop the business acuity of the heroes (and heroines) behind the pan, in keeping with CB Foods' holistic approach to 'Live Better'.

Now in its fifth consecutive year of partnering with PAN JNSBL continues its alignment with the event in the face of an expanding culinary industry.

"PAN creates the perfect opportunity for JNSBL to cement its footprint within the industry as the premier sponsor for financing. Over the years, we have continued to see a steady inflow of customers from cookshops, food trucks, smoothie stops, and, of course, jerk vendors, who have maintained that their first interaction with the brand was while they attended the PAN competition hosted by CB Foods," explained general manager, JNSBL, Gillian Hyde.

In keeping with its mantra of keeping families connected, JN Money's firm belief is that food provides an opportunity for families to come together and stay connected while creating lasting bonds and kinship. Thus, PAN 2018, a day for family-oriented entertainment, provides the ideal platform for the company to showcase its offerings.

'Live Better', CB Foods' guiding principle underlying the PAN competition, has long supported local farmers aligned with the push for Jamaicans to 'Grow What We Eat and Eat What We Grow.'

 

THIS YEAR'S PRIZES

 

This year, the PAN 2018 grand-final winner will receive $150,000, courtesy of JNSBL. Second- through to 10th-place winners will have the opportunity to access a loan of $100,000 at a reduced interest rate of 10 per cent per annum on the reducing balance (subject to the requisite terms and conditions) to aid in their entrepreneurial pursuits.

During the PAN 2018 season, JNSBL will provide on-the-spot loan pre-qualifications and approvals, as well as offering patrons the opportunity to sign-up for JN Money cards for those with TRNs and ID cards. There will also be giveaways and a special promotion for the JNSBL PAN Chicken loan, where clients can earn a four-week payment holiday.

Over the past 18 years, JN Small Business Loans has become the number one local brand in microfinancing, providing micro and small businesses with loan opportunities and other support services.

JNSBL is a wholly owned subsidiary of The Jamaica National Group.

JNSBL's current portfolio provides for a wide array of financial products, which can see individuals borrowing from as low as $10,000 to as high as $15 million, with several varying terms and repayment options. Since its inception, more than 500,000 loans exceeding $25 billion have been disbursed, and from this, the company has managed to successfully impact both the lives of its clients and the local economic climate.

As noted by Hyde, "It is with this in mind that we have decided to bolster our support through several initiatives geared towards stimulating and enriching the growth of the micro sector. One of these initiatives includes the PAN 2018 competition, hosted by CB Foods."