Do You Meet The Following Requirements?
For Individuals
- Are you at least 21-years-old, a Fiji Resident &
- Belong to ONE of the following groups:
- A Fijian registered in the Vola ni Kawa Bula?
- A Rotuman registered in the Rotuman Birth Register?
- A General Elector registered in the General Electors Electoral Roll and are of Melanesian or Polynesian or Micronesian origin?
For A Company, Partnership Or Cooperative,
Is the business 100% owned by people who fulfil the Requirements 1 & 2 above?
| Client Type |
Loan Amount(F$) |
Equity(in cash) |
| Individuals,Partnerships Cooperatives |
Up to $0.5m |
20% of Total Project Cost |
|
Above $0.5m |
35% of TPC |
| Tikina, Provincial Councils |
Up to $1m |
20% of TPC |
|
Above $1m |
35% of TPC |
| Client Type |
Loan Amount (F$) |
Interest Rate |
| Individuals, Partnerships or Cooperatives |
First $0.5m |
8% p.a |
|
Above $0.5m |
13.5% p.a |
| Tikina, Provincial Councils |
First $1m |
8% p.a |
|
Above $1m |
13.5% p.a |
| Project Type |
Maximum Term |
| Establishment/Construction |
20 years |
| Purchase |
15 years |
Security Required
(to adequately cover loan amount and may include) |
- Mortgage
- Debentures
- Joint & Several Guarantees made by Shareholders and Directors of the Company
- Bill of Sale
|
Documents To Be Provided When Lodging Your Application
- Copy of Building Plans and Specifications for Building Construction
- Construction Contract, an Executed Fixed Price Contract for work to be undertaken
- Sale of Purchase Agreement for business to be Purchased or Letter of OfferBusiness License from the Local/Rural Authority
- Business Plan
- Company Registration Certificate from Registrar of Companies
- VAT certificate for the previous 3 years from the Inland Revenue Department
- Right of Land /Building Use - Copy of Registered Title or current lease over land or Tenancy Agreement (term of lease must exceed loan term)
- Income & Expenditure and Cash Flow Statement projected for 3 years
- Financial Statement for latest 3 years (for established businesses)
- Details of Other Borrowings with confirmation
- Source & Evidence of Equity Contribution
Call Your Nearest Branch For More Information
