The purpose of the campaign is to inspire women to take action to start or grow their businesses by creating an environment where they can benefit from the experiences of successful entrepreneurs, access resources and recruit individuals to help them to start/grow their businesses.
The campaign will give 25 women throughout Jamaica an opportunity to receive a loan financed by Dolla Financial of up to two hundred thousand dollars (J$200,000) in full or in tranches depending on affordability. This loan product will carry a specially reduced interest rate and flexible payment terms. The vision for this campaign is that each successful applicant will be able to turn the J$200,000 loan into J$1,000,000 in profit over a 6 –9-month period. The intention is to incentivize three (3) participants who accomplish this goal within the 9-month period with a grant of J$1,000,000 each.
Million Dolla Woman Campaign
8th March 2023 – 22nd December 2023 (dates inclusive) 11:59 PM
Prize Draw Dates:
22nd of December 2023
All the rules will be easily accessible throughout the competition. This will be in the form of.
· 50% reduction in processing fees (2.25% of disbursed amount)
· Waiver of application fees
· Interest rate of 3% per month
· Up to 24 months to repay.
· Weekly or monthly payments
The Million Dolla Woman Campaign (‘the campaign) is open to
The Campaign is NOT open to any employee (whether or not permanently employed) of Dolla Financial Services Limited and its Parent Company, First Rock Private Equity,( and other related entities) and subsidiaries; Dolla Guyana and Ultra Financier, as well as persons living in the same household and members of their immediate families (including parents, siblings, spouse and children).
Total funding of $3,000,000 to be equally split amongst three (3) winners.
The “Million ‘Dolla’ Woman Campaign” will include a pitch competition that provides a platform for a group of women entrepreneurs to compete for a chance to qualify for the J$1,000,000 grant by submitting a pitch outlining the details of their business and growth strategy through a confidential medium. The Dolla judging panel will then adjudicate the submissions to identify 25 women, who meet the criteria, to receive a loan from which the competition begins.
Three (3) independent winners will be chosen based on the following criteria and points system:
Once the required criteria have been satisfied, the top 3 participants will be selected on the 22nd of December 2023. On the selection date, a Dolla representative will have a list of all the participants along with the criteria stipulated at the start of the campaign. Points will be allocated to each criterion and the top 3 participants will be selected based on the number of points accumulated. If there is an instance where there is a tie, the company with the lower efficiency ratio will be selected