Interest Rates
| Product | Minimum Rate | Maximum Rate |
| Renewable Energy | 6% | 6% |
| Home Financing | 8% | 11% |
| Large Business (above $40K) | 9.75% | 13% |
| Small Business ($5K to $40K) | 10% | 13% |
| Education Financing | 10% | 12% |
Client Contribution
Both the DFC and the Borrower needs to contribute towards the total project cost. Please see below the distribution ratio required:
| Product | Client Contribution | DFC Contribution |
| Renewable Energy | 0% | 100% |
| Education | 0% | 100% |
| Purchase Land First to Build Home Later. | 5% | 95% |
| Home Mortgage | 10% | 90% |
| Small Business ($5K to $40K) | 20% | 80% |
| Small Business (3x Repeat Borrower) | 15% | 75% |
| Large Businesses (Above $40K) | 15% | 75% |
| Refinancing Home | ||
| Refinancing Business |
Loan Processing time
Education Loans = 15 to 24 business days
Home Loans = 4 to 6 weeks (Requires Project Appraisal and Research on Property at Lands Dept.)
Small Business Loans = 4 weeks (Requires Project Review)
Large Business Loans = 4 to 6 weeks (Requires Project Review)
Note: The review of an Application commences only after all required documents and criteria have been met by the borrower.
Age Limits
Eligible minimum age = 15 years old. (Loans can be gotten for students who are the age of 15 or above however, the minor’s parent or guardian would serve as the official loan applicant.)
There is no upper age limitation.
Note: The DFC recently revised its policy (2020) to be non-discriminatory against Senior Citizens. This is part of DFC’s Gender Mainstreaming Strategic Objective to foster greater inclusion in what we do. Previously, the age limit was 70 years old.
Does DFC offer personal Loans?
The DFC does not provide personal, consumer loans (eg: Loans for household items, medical loans, credit cards etc.)
We do provide loans for the below:
- Vehicles used for a business purpose (Eg.: Trucks, Buses etc. – Excluding Taxis)
- Hybrid or Electric Vehicles for private or business use.
- High-efficiency refrigerators, freezers, air-conditioners etc. for private homes or Business use.
- Solar Panel Systems for private homes or Business use.
The DFC provides loans for Businesses, Education, Home Financing, and Renewable Energy.
Can I get a loan if I am a Guarantor for someone?
Yes, you may be able to get a loan if you are serving as Guarantor for someone else. As with all other financial institutions, the DFC would determine your loan eligibility amount and loan repayment capacity based on your income, debts, and guarantees to ensure you are able to afford the loan you would be applying for.
Refinancing
Home Mortgage Refinancing
Yes, the DFC offers home mortgage refinancing with the following conditions:
- That the refinancing will ensure that the new loan repayment and loan repayment period will be more affordable to the borrower.
- That there must be some additional investment made to the property to improve the property.
- The Home Mortgage is not ‘bundled’ with other consumers-based loans (credit card, vehicle etc.) which the DFC does not finance.
Business Refinancing
Yes, the DFC offers Business loan refinancing with the following conditions:
- That the DFC refinancing for a loan from another bank will allow for better cash flow and make repayment terms more affordable for the borrower.
- The refinancing can be part of a wide loan for the expansion of an existing operation. The refinancing element of such a loan will not exceed 60% of the project cost.
- For Existing DFC customers – that the refinancing will allow for the consolidation of several loans in order to afford a better repayment arrangement.
If I am a Belizean residing abroad, can I apply for a loan?
Yes, as a Belizean living abroad you can apply for a loan for a project based in Belize.
If you will not be in Belize, you would be required to appoint someone with a ‘Power of Attorney’ to transact the loan process in your stead.
If I am a Foreigner, am I able to apply for a loan from DFC?
Yes, Foreigners can apply for Business Loans or Renewable Energy Loans only under the following conditions:
- The Loan must be for a project that has existed in Belize for a minimum of 3 years.
- The Loan must be for
Does DFC offer 'Rent to Own' Homes?
No. The DFC DOES NOT provide ‘Rent to Own’ arrangements.
We offer Home Mortgage Loans for you to Build, buy, improve, renovate, or expand a home.
Do I need to own land to apply for a home loan?
No. DFC provides loans for you to either:
- Buy a property and build your home. OR
- Buy a land first, then build your home later. (if you need to build-up your equity)
Click here to see more details on our Home Financing page.
What do I need to get a home loan?
You would need:
- To be eligible for the amount you want to borrow. (see next question)
- Have your 5% or 10% contribution towards your project.
- Meet the other loan requirements depending on the type of home financing you need.
Click here to see the different types of Home Financing we offer.
Home much do I qualify for?
Below is an example of how you can calculate the loan amount you would qualify for. Note that you would be able to access a greater amount with the income of additional borrowers. The amount calculated would be an indicative figure only.
| Borrower 1 | Borrower 2 | |
| Gross Monthly Income | $2,500 | $1,800 |
| Total for all loans being re-paid | $400 | $350 |
| Gross income (minus debts) | $2,100 | $1,450 |
| x 12 months | x 12 | x 12 |
| Total Annual Income | $25,200 | $17,400 |
| Total Combined income | $42,600 | |
| Eligible percentage (190%) | x 190% | x 190% |
| QUALIFIED AMOUNT | $47,880 | $80,940 |
Do you offer home improvement loans?
Yes, the DFC provides financing for you to repair, improve, renovate, expand or secure your home.
Click here to see more details on our Home Financing page.
Can I get a loan to construct my home if the land is not mine?
Yes. With the written consent from the landowner who will then act as Surety to the loan.
Can I get a loan to construct my home if I have a LEASE land?
Yes. You are able to get a loan to build on your lease land but:
- You would need to secure a ‘Permission to Mortgage’ from the Lands Department.
- The repayment term for the loan cannot exceed the expiration date for the leased land.
We encourage lease landholders to access the financing to purchase the land and convert it to title property.
What do I require to qualify for a small business loan?
A viable project plan amongst other general requirements which many vary depending on the nature and purpose of the business.
What is the minimum and maximum amount of money that the DFC finances for small business?
For small business loans we finance up to $40,000.
Does DFC offer finance for vocational courses?
Yes we offer financing for trade courses such as those offered at the TVET (Belize).
If I am a Belizean residing in America, can I apply for a loan?
Yes, as a Belizean living abroad you can apply for a loan for a project based in Belize.
If I am already working, can I get a loan to study part-time?
Yes you can, our student loan program provides for part time studying and professional certificates and degrees. Depending on the case however, the six months grace period to commence principal payment may not apply if you are already employed.
What do I require to borrow for agriculture production?
General applications requirements such as ID, income verification, proof of assets and liability as well as evidence of land property, company documents, permit contract and licence where applicable. Clients are required to contribute at least 10% of project cost.