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Support for Jamaican entrepreneurs and employees building side-hustle businesses

Thousands of Jamaican entrepreneurs and employees operating side hustle businesses could soon benefit from a new J$1 billion Employees’ Side-Hustle and Entrepreneur Micro Loan Revolving Fund Programme launched by First Union Financial Company Limited, a licensed microfinance institution regulated by the Bank of Jamaica.

The initiative is designed to provide accessible financing to Jamaicans seeking to start, expand or strengthen income-generating ventures while creating greater opportunities for financial independence, business ownership and long-term economic growth.

Headquartered at 43 Eastwood Park Road in Kingston, First Union Financial has served Jamaicans for more than two decades and continues to position itself as a catalyst for entrepreneurship and economic empowerment.

Founded in 1999 by entrepreneur Lloyd Campbell and supported during its formative years by the Development Bank of Jamaica (DBJ), the institution has provided financing solutions to thousands of Jamaicans across both the public and private sectors.

According to Group General Manager,  Jonalisa Brooks, the programme was developed in direct response to the growing number of Jamaicans seeking additional income streams and entrepreneurial opportunities.

“We have witnessed a significant increase in employees operating side hustle businesses while maintaining full-time employment. Many Jamaicans are looking for practical ways to supplement their income, support their families, and build a stronger financial future. We recognised that there was a need for a dedicated financing programme specifically designed to support these ambitions,” Brooks said.

She noted that the initiative will also provide critical working capital support for existing entrepreneurs seeking to scale and strengthen their operations.

“Access to financing remains one of the greatest barriers facing small business owners. Through this programme, we aim to bridge that gap by providing practical funding solutions for both emerging and established entrepreneurs. Our commitment remains steadfast to being in service to the employees and entrepreneurs of Jamaica.”

Under the programme, qualified applicants may access financing of up to J$2.5 million to support a wide range of business activities, including:

• Retail and wholesale operations •Agriculture and agro-processing • Manufacturing
• Transportation and logistics • Professional services • Importation and distribution
• Technology and digital enterprises • Other viable income-generating ventures

The revolving structure of the fund is intended to create a sustainable financing model whereby loan repayments are recycled into future loans, ensuring that capital remains available to support successive generations of Jamaican entrepreneurs.

 Brooks believes the initiative comes at a critical time for Jamaica’s economic development.

“Many successful Jamaican businesses began as side-hustles. We understand that thousands of hardworking Jamaicans possess the talent, determination and ideas to build successful enterprises but are often constrained by limited access to capital. This programme is intended to help unlock that potential.”   She continued:

“Jamaica needs more entrepreneurs, more business owners, and more job creators. By supporting employees and entrepreneurs who are willing to invest in themselves, we are helping to create stronger communities, stronger businesses, and ultimately a stronger economy.”

First Union Financial anticipates strong participation from entrepreneurs and employees across Jamaica and expects the programme to contribute meaningfully to business expansion, job creation and economic activity throughout the island.

The company is encouraging interested individuals to begin exploring opportunities under the programme and to contact its offices for additional information regarding eligibility requirements and application procedures.

First Union Financial Company Limited is a licensed microfinance institution regulated by the Bank of Jamaica. Established in 1999, the Company provides financing solutions designed to support employees, entrepreneurs and small business owners throughout Jamaica. Through innovation, responsible lending and customer-focused service, First Union Financial remains committed to empowering Jamaicans and advancing economic growth.