What are the financing solutions offered by WILCO Finance?
Eligible borrowers can access personal and business loans. WILCO’s MSME Trade Finance allows eligible micro and small enterprises to flexibly match financing with the time of their cash flows.
When did WILCO start operating as a microfinance company?
WILCO opened its office on Haughton Avenue, Kingston 10, in 2010. Today, WILCO operates from Old Hope Road:
Suite 25 Seymour Park, 2 Seymour Avenue,
Kingston 6, St. Andrew
Call toll free: (888)429-5566
Email: info@wilcofinance.com
What is WILCO’s mission?
WILCO’s mission is to provide our valued customers with easier access to suitable financing; while engaging with and meeting the reasonable expectations of our stakeholders.
What are the basic requirements for Personal Loans?
About you
The basic requirements to access a WILCO Personal Loan are:
- Identification, TRN and passport size photo
- Proof of address: e.g., utility bill, not aged over 60 days
- Income verification: e.g., job letter and last 3 payslips
See Client Relations for more information on requirements.
What are the basic requirements for Business Loans?
The basic requirements to access WILCO MSME Trade Finance:
About you:
- Identification, TRN and passport size photos
- Proof of address: e.g., utility bill, not aged over 60 days
- Income verification: e.g., job letter and last 3 payslips
About your business/trade:
- Business/trade registration, incorporation and compliance documents
- Business/trade references and location confirmation
- Business/trade financial activities over last 6 months
- Business/trade financial projection over next 24 months
- See Client Relations for more information on requirements.
How does WILCO handle loan processing fees?
The loan processing fees directly associated with your loan will be deducted from the loan approved loan amount upon disbursement. At WILCO, borrowers are not asked to pay loan processing fees directly associated with their loan before approval and disbursement.
How does WILCO disburse loan proceeds to borrowers?
Cash is King, they say? Well, borrowers will never get loans disbursed with cash at WILCO. Loan proceeds are disbursed via direct bank deposits, and even less so via cheques.
What are the loan amounts and repayment periods available at WILCO?
Eligible borrowers may access unsecured Personal Loans up to $1,500,000 with up to 48 months to repay. WILCO flexes its MSME Trade Finance to match the risks, collateral and capacity of the Business Loan clients. Click Client Relations to learn more.
What are the interest rates and fees payable by clients at WILCO?
WILCO regularly reviews its interest rates and fees against its microfinance portfolio metrics, microfinance industry and wider financial services sector. This is to ensure alignment with what is considered normal and acceptable within the market.
Rates: as of December 31, 2022, interest rates range from as low as 5% p.a. to as high as 52% pa. Click Client Relations to learn more.
Fees: as of December 31, 2022, loan processing fee up to 4% is charged on approved loan. Click Client Relations to learn more.
Who are some of the partners, affiliates and organizations collaborating with WILCO?
WILCO is an Accredited Microfinance Institution (MFI) by the Development Bank of Jamaica.
WILCO is a Member of the Caribbean Microfinance Alliance.
WILCO is a Member of Small Business Association of Jamaica.
WILCO is a Member of Jamaica Micro Financing Association.
