National Bank attracts over 400 Applicants in first 5 days Print E-mail
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Thursday, 26 September 2013 00:00

National Bank of BelizeChairman of the National Bank, Hon. Joy Grant told the Guardian that within the first 5 days of the opening of the bank, it  saw over 400 persons come in to get application forms. "We know there is a lot of interest and enthusiasm is still very high, stated Hon. Grant. She explained that as persons come in to the bank, because it is a development bank, the focus is on education. That education involves explaining to applicants and advising them about the size of a loan that they are able to take on and working on tailoring their needs based on their incomes. "It is not a 'yes' or a 'no' but rather we explain how big a house they can build," stated Grant.

As people are coming in Hon. Grant explained that it is not only public servants and teachers who can access financing. She said that half of the money is indeed for them, but that the other half is for ordinary Belizeans who would want to build their homes.

Asked if the bank has the capacity to process the requests, Grant explained that yes it does. "The plan is to move in a measured manner but if there is a bottleneck we will get other people in to assist," she said. She added that at Christmas time the bank plans to take in interns to learn about mortgage financing in order to have more people be able to understand budgeting, saving and owning their own home and getting more financial expertise in their daily lives.

In his Independence Day address, Prime Minister, Hon. Dean Barrow stated that by the first quarter of next year the bank should be taking in deposits. To this, Hon. Grant explained that she will be bettering that expectation as by the end of the year deposits will begin to be accepted. Thereafter there will be an expansion of services such as ATM and other services as the bank grows.
So far the bank has already begun to disburse loans as the first approval for a loan took place on Friday September 20th.