Targeted Loan

The most popular SLB loan is the Targeted Loan. Under the Targeted Loan, repayment is scheduled to commence after graduation.
Targeted Loan
The Targeted loan solution enjoys a moratorium period wherein the borrower is not required to repay the loan while in school. The moratorium covers the period in school and fourteen (14) months following programme completion. This allows students to focus more on studying and an additional period to find suitable employment. Applicants can receive up to one million dollars ($1mn) at an interest rate of 7.8 % during school and 9.5% during repayment.
Unbeatable
7.8%

Interest rate

New Student/ First Time Applicant

To apply for a Targeted loan, a first time applicant to the SLB, will be required to:

Step1:

Applicant Sign Up/Register: Once the registration process is complete, a One Time Password (OTP) will be sent to your email address and mobile number. A 6-digit OTP will be sent to your email address and your mobile number which is needed to complete the registration process. After registration is complete you will be redirected to the Home page where you will be required to enter your email and the password you created.

Step 2:

Select the “New Loan” Tab and then the Loan solution that meets your needs. Complete the online application (for applicant) and upload the relevant documents to the customer portal and then submit your application.

Step 3:

Guarantor Sign Up/ Registration:  Your Guarantor is also required to register on the Customer Portal. After successful registration, the Guarantor will be required to log in by entering his/her email and password. Select the tab ‘Guarantee a Loan’ to continue the application process.  Note: If Guarantors do not complete this section, the Borrower’s application will not progress to the next phase.

Step 4: 

Payment of Fees: Pay your fees via our customer portal, STEEP or to any of our other payment facilities:

Paymaster or Bill Express online or any of their locations island-wide. Payments can also be made at the SLB’s office. A copy of the receipt or evidence of payment should be retained for your files.

Application Fee:  $6,250

Credit Report Check:  $1,250 (for PAYS and Post Grad)

Moratorium Insurance:  Fees can be paid in full or in installments prior to disbursements.

 

Step 5: 

Submission of Physical Documentations: Prepare and submit all documents at the SLB office via our drop-box. You may also utilize drop-off facilities at your academic institutions.

Returning Students

To apply as a returning student, you will be required to:

Step 1:

Go to our website at www.slbja.com and select the Apply Online tab to access our Customer Portal. Click on the Forget Password option.

Step 2:

You are required to enter the same email address and mobile number previously used for you on file at the SLB.

Step 3:

A one-time password (OTP) will be sent to your email address and mobile number provided. The system will then request that you create your new password. Note: Please contact the SLB if you receive an alert that “email address and/or mobile number do not match” as your attempt to register will fail.

Step 4:

After password reset is done, you will be directed to the Login Page to input your email address and new password.

Step 5:

After logging in, select the Returning Students tab, then click on the Loan Commitment Application No.” in the drop box and then select “Continue” to complete your application.

Step 6:

Guarantor Sign Up/ Registration:  Your Guarantor is also required to register on the Customer Portal. After successful registration, the Guarantor will be required to log in by entering his/her email and password. Select the tab ‘Guarantee a Loan’ to continue the application process.  Note: If Guarantors do not complete this section, the Borrower’s application will not progress to the next phase.

Step 7:

Payment of Fees: Pay your fees via our Customer Portal, STEEP or to any of our other payment facilities: Paymaster or Bill Express online or any of their locations island-wide. Payments can also be made at the SLB’s office. A copy of the receipt or evidence of payment must be submitted with all other documents.

Application Fee: $6,250

Credit Report Check: $1,250 (for PAYS and Post Grad)
Moratorium Insurance: This fee can be paid in full or in installments prior to disbursements.

Payment of Fees:
Fees may be paid via your Customer Portal, STEEP or to any of other payment facilities:

Paymaster or Bill Express online or any of their locations island-wide. A copy of the receipt or evidence of payment should be retained.

Fees must be paid before the final approval of your application for a loan.

Approved Tertiary Institutions

  • All American Institute of Medical Sciences
  • Bethlehem Teachers’ College
  • Brown’s Town Community College
  • Caribbean Maritime University
  • Caribbean School of Medical Sciences
  • Catholic College of Mandeville
  • Church Teachers’ College
  • College of Agriculture, Science and Education
  • Edna Manley College of the Visual and Performing Arts
  • Excelsior Community College
  • G.C. Foster College of Physical Education and Sports
  • International University of the Caribbean
  • Jamaica Institute of Management
  • Jamaica Theological Seminary
  • Knox Community College
  • Management Institute for National Development
  • Mico Teachers’ College
  • Moneague Teachers’ College
  • Montego Bay Community College
  • Norman Manley Law School
  • Northern Caribbean University
  • Portmore Community College
  • Sam Sharpe Teachers’ College
  • Shortwood Teachers’ College
  • St. Joseph’s Teachers’ College
  • University College of the Caribbean
  • University of Technology
  • The University of The West Indies, Cave Hill
  • The University of The West Indies, Mona
  • The University of The West Indies, Open Campus
  • The University of The West Indies, St. Augustine
  • Vector Technology Institute
  • Vocational Training Development Institute
After Application

What are the steps to take after application?

  1. Check your online portal/secure area (log in and enter username and password) on our website on a regular basis for the outcome of your loan application.
  2. Set an appointment for the guarantor and yourself to take in the required documents and contracts
  3. Download all loan contracts and other supporting documents from the SLB online portal for the guarantor and yourself.
  4. Ensure that all loan contracts and any supporting documents for both yourself and the guarantor are completed and taken to the SLB’s office. Please ensure that all documents are witnessed by any one of the following persons, Attorney-at-Law, Medical Practitioner or a Justice of the Peace. It is important that you ensure that all documents are completed accurately to avoid cancellation of your application or delay in disbursement.
  5. Submit all loan contracts and other supporting documents via our Drop Box facility. Please ensure that all photocopied documents are certified by Attorney-at-Law, Medical Practitioner or a Justice of the Peace
  6. Pay the all relevant Fees (Status Report, Processing and Insurance fees) at any of the Paymaster or Bill Express locations, BNS, NCB or FGB online banking platforms. Payments can also be made at the SLB’s office. A copy of the receipt/or evidence payment  must be submitted with all other documents
  7. Monitor your personal email for possible notifications regarding your loan processing status.

Document Upload Feature

New and Returning Students, please have these documents electronically stored so that you can upload them when you are on the Document Upload page. It is recommended that you download a Scanning Application to your device.

Note that these are mandatory documents that are needed to complete the process.  You will not be able to submit your application without them.

  1. Customer ID – valid GOJ ID
  2. Photo of the customer
  3. Address verification
  4. Birth Certificate
  5. Credit Bureau Consent Form – this can be downloaded from the portal
  6. Proof of Income for the person who is financially responsible for you