NCB Capital Markets Limited (NCBCM) is moving to expand access to working-capital financing against Government of Jamaica (GOJ) receivables, beginning with medical goods and services supplier Medical Link Limited.

Under the arrangement, Medical Link assigns eligible invoices owed by the Ministry of Health and Wellness/Government of Jamaica to NCBCM, which provides financing against those receivables. This allows Medical Link to access cash sooner while the invoices move through the normal Government payment process.

For Medical Link, the financing provides greater flexibility to fund ongoing operations, meet supplier obligations and pursue additional business opportunities.

“As a supplier, we have to continue purchasing goods, meeting our obligations and preparing for the next opportunity even while payments on completed business are being processed,” said Paula Walker, Founder and Managing Director of Medical Link. “This facility gives us greater flexibility to access funds tied up in our receivables and continue putting that capital to work in the business, which supports increasing efficiency in the operations of our customers in the health sector.”

Building a market for GOJ receivables

NCBCM led the structuring of the Medical Link transaction, coordinated the financing and governing legal documentation, and was able to do so quickly by drawing on regional experience, including work done through NCB Merchant Bank (Trinidad and Tobago) Limited (NCBMBTT).

“For many businesses, particularly MSMEs, cash flow determines how quickly they can restock, pay suppliers, take on another contract or invest in growth,” said Angus P. Young, CEO of NCBCM and Executive Vice President, Corporate & Investment Banking at National Commercial Bank Jamaica Limited (NCBJ).

“We have the funding capacity, client relationships, governance framework and regional experience to take GOJ receivables financing beyond individual transactions and make it a meaningful financing option for eligible Jamaican businesses. Whether the need is financing for expansion or equipment, or accessing money already earned but not yet received, our focus is on having the capacity and range of solutions to support Jamaican businesses across those needs.”

NCBCM is at a mature stage in building out a standardised approach to financing eligible GOJ receivables, particularly for established businesses supplying Government entities and public bodies.

Moving policy into practice

The transaction follows efforts by the Government of Jamaica to develop a framework to facilitate financing against its receivables.

Speaking at the Jamaica Stock Exchange Regional Investments and Capital Markets Conference in January 2026, Minister of Finance and the Public Service, the Honourable Fayval Williams, announced that Government was exploring a formal policy around receivables factoring, citing its potential to address payment-cycle challenges faced by Government contractors and improve the flow of funds through the economy.

“Businesses that supply Government are important partners in delivering goods and services to Jamaicans,” said Minister Williams. “Receivables financing gives eligible suppliers another option for accessing working capital while their invoices move through the normal payment process. We have been working to create an environment in which arrangements like these can operate effectively, and we welcome the participation of financial institutions like NCBCM in expanding the financing options available to Jamaican businesses.”

The financing does not change the Government’s obligation to settle the underlying invoices. It allows eligible suppliers to access financing against verified receivables while awaiting payment.

Expanding access to capital for Jamaican businesses

The initiative is the latest in NCB Financial Group’s efforts to expand access to financing for Jamaican businesses, including MSMEs.

In April 2026, NCBJ launched its J$2 billion SME Growth Fund II, following the full take-up of the J$1 billion initially made available through the programme. The fund provides financing for working capital, equipment, machinery and business expansion.

Together, these initiatives form part of NCB’s broader push to expand the ways Jamaican businesses can access capital, whether to manage cash flow, invest in expansion or pursue new opportunities. The aim is to put NCB’s scale to work in creating more pathways for Jamaican businesses to finance their growth.