Home  > Media  > Press Releases
Press Releases
SIDF AND NATIONAL BANK PARTNER TO IMPLEMENT LOAN PROGRAMS
Posted: July 03, 2014
SIDF Press Release

     Basseterre, St. Kitts – July 2, 2014 (SIDF) - Citizens of St. Kitts and Nevis will benefit from three loan programs initiated by the St. Kitts and Nevis Sugar Industry Diversification Foundation (SIDF) and implemented in partnership with the St. Kitts-Nevis-Anguilla National Bank (SKNANB).  The Graduate Relief Assistance Student Program (GRASP), the Fund for the Realization of Economic Empowerment through Subsidized Housing (FREESH) and the Housing Enhancement Loan Program (HELP) will be launched at a ceremony to be held on Friday, July 4, 2014, at 10:00 a.m. at the St. Kitts Marriott Resort.  

    The Graduate Relief Assistance Student Program (GRASP) is a new initiative that offers college or university graduates an opportunity to borrow up to $500,000.00 at 6% interest to refinance an existing student loan and acquire a home.   The loan is repayable over a maximum 30 year period.  To qualify, students must have graduated no more than four years from the time of application. 

    With SKNANB participating in the Fund for the Realization of Economic Empowerment through Subsidized Housing (FREESH) and the Housing Enhancement Loan Program (HELP), eligible applicants will have another choice of financial institution when seeking a loan to build a house or renovate their home.  Residential mortgages up to $500,000.00 at a fixed interest rate of 5% are offered under FREESH. Maximum loans of $100,000.00 at a 6% rate of interest are provided under HELP for the purpose of upgrading homes.  

    Applications to any of the loan programs will be made via a portal on the SIDF website – www.sknsidf.org.

    The primary purpose of SIDF is to support the Government in its efforts to grow and diversify the national economy. Since its establishment, SIDF has invested over five hundred million dollars ($500,000,000.00) in projects which have stimulated economic activity in various sectors, enhanced infrastructural development and increased household disposable income.

     

Did you know?

    SIDF provided funds totaling EC$290,300.00 for a floriculture project in St. Paul’s Village that offered training in horticultural practices and life skills to workers who were unemployed following the closure of the sugar industry.

VIEW NEXT »»
 MEDIA RELEASES 
December 23, 2014
OTI to re-open as four-star boutique hotel in March 2015
July 15, 2014
SIDF highlights role in Kittitian Hill, PM Douglas saluted for visionary leadership and social conscience in transformation of the landscape
June 30, 2014
Nevis Administration gets SIDF assistance for jointly funded CDB Water Enhancement project
May 23, 2014
PM Douglas says government committed to bringing changes to its Citizenship By Investment programme
January 12, 2013
Nevis Administration throws full support behind SIDF funded project; participant agrees programme will benefit Nevis
January 10, 2013
SEED boot camp participants grateful for program implementation
July 31, 2012
SIDF TO OUR ECONOMIC RESCUE!
More Press Releases »
St. Kitts & Nevis Sugar Industry Diversification Foundation,
Unit C 21, The Sands Complex, Bay Road, P.O. Box 1163, Basseterre, St. Kitts W.I. Tel: (869) 465-3750
Privacy Policy