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DevBank
Issue 1 2004

Purchase of Farm Vehicles,Machinery, Equipment & Implements

Do You Meet The Following Requirements?

  • are at least 21-years old
  • are a Fiji-Citizen
  • must have a viable project, with good credit history with us or any other bank
  • project is situated within 1km of a government feeder road (if on Viti Levu or Vanua Levu) OR situated within 3km of the nearest inter-island port of call if on an outer island

Documents To Be Provided When Lodging Your Application

  1. Freehold Land Title or Current Lease over Land to be used by Proposed Project
  2. Original Title Deeds of Property
  3. Business Plan
  4. 3 Quotations of the Asset to be Purchased
  5. Cash Flow Projection for next 3 years (if applicable)
  6. MPI Assessment of Viability
  7. Evidence of Farm Production for past 3 years
  8. Source & Evidence of Equity contribution
  9. Current Driving License for the category of vehicle acquired (if applicable)
  10. Land Transport Authority Certificate of Roadworthiness (if applicable)
Loan Amount (F$)
(For Farm Machinery)
Interest Rate
First $10,000 10% per annum
In excess of $10,000 13.5% per annum
For Farm Trucks 13.5% per annum flat
Interest is calculated on daily balance and automatically charged to your account monthly.
Term Of Loan Term should end short of the useful economic life of the vehicle or equipment BUT not to exceed 5 years
Security Required
(to adequately cover, loan amount and may, include)
  • Mortgage
  • Notification over project land buildings
  • Bill of Sale over the vehicle/items to be purchased
  • Comprehensive Motor Vehicle Insurance Cover over vehicle to be purchased
Equity Contribution At least 35% of total construction cost in cash
Exclusions
  • Class J Leases
  • Absentee farmers unless prior contracting of experienced farm caretaker
  • Land with less than 10 years lease term remaining

Call Your Nearest Branch For More Information.

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Fiji Development Bank
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PO Box 104
Tel: 679 - 331 4866 Fax: 679 - 3314886
Email: info@fijidevelopmentbank.com