To qualify to submit an application to The Cherry Tree Trust, you must meet the following criteria:
Amount
For Start Ups, up to BBD $15,000. For existing businesses (trading for at least 1 year), up to BBD $25,000.
Term
Up to 5 years.
Interest Rate
5 % fixed.
Security
None.
Capital Repayment Holidays
None.
Mentorship
A mentor will be assigned to each beneficiary granted a loan
The Cherry Tree Trust as part of its offering and means of supporting beneficiaries will offer each beneficiary a dedicated mentor during the startup phase of their relationship with us.
Our Mentorship panel is a diverse group of business men and women who as The Cherry Tree Trust Mentors will provide a bouncing board type resource to beneficiaries free of charge. Our mentors will be about understanding what you want to achieve and lending their experience and network to your venture. This will be a unique added value benefit to our beneficiaries.
It was always our dream to take the business to the next level by extending our product range to include a Garden Shop and Plant Nursery. We were unsuccessful in acquiring funding until ironically we were referred to TCTT by one of the lending organisations who had turned us down.
We would definitely recommend the team at TCTT to any new or existing businesses as their overall professionalism, knowledge, efficiency and genuine care for the customer far exceeds any that we have ever encountered so far in Barbados. They gave us hope again that they are still organizations out there that have the best interest of small businesses at heart. Kudos to the team, keep up the excellent work!
This dream is becoming a reality due to the assistance from the Cherry Tree Trust. From the initial phone call, The Cherry Tree Trust team was nothing short of helpful. With every email, there was a quick response. The process included several introductory and informative meetings but the best part was getting the email stating that my application was successful.
In comparison to other financial institutions, what I admire most is that sense of belonging. Even though I had no idea if I would be successful or not, the Cherry Tree Trust, throughout the entire process, kept in contact and gave updates as to how everything was proceeding. The entire process was pleasant and I am happy to be a part of this family of entrepreneurs.
Due to the help and mentorship provided, JEM’s Gourmet Chocolates has a real opportunity to be a true success.
The process of application was surprisingly easy, and I was very pleased to be selected for the interview process. I was also very surprised at the speedy reply after the interview. It was a positive one, so of course I was ecstatic! The short length of time I had to wait for disbursement was also a happy surprise.
It is a tremendous boost to my professional and personal confidence that the management team of The Cherry Tree Trust, which is made up of very high caliber professionals with international standards, could believe in my vision and be willing to help me achieve it.
I would wholly recommend The Cherry Tree Trust as a funding option to serious business start-ups.
