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Business Purchase or Establishment

Do You Meet The Following Requirements?

  • Are you a Sole-trader, Partnership, Limited Company, or Cooperative?
  • Are you at least 21-years-old and a Citizen of Fiji
  • Own or intending to purchase a construction or property for rental with annual income $50,000 and below
  • Belong to an ethnic group OTHER THAN a Fijian, Rotuman or Eligible General Elector of Melanesian or Polynesian or Micronesian origin?
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
  • Any other appropriate security
Exclusions
  • Rental for Occupation by Family/Relatives
  • Executive Homes for rental
  • Residential Buildings in Housing Authority Estates
Equity Contribution Minimum of 20% of the Total Project Cost
Interest Charges
First $50,000 8% per annum
In excess of $50,000 13.5% per annum
Interest subsidy of 5.5% up to $50,000 per applicant
Building Type Loan Term
Purchase 15 years
Construction 20 years

Documents To Be Provided When Lodging Your Application

  1. Business Plan
  2. Right of Land Use – Copy of Registered Title or Current Lease over Land (term of lease must exceed loan term)
  3. Copy of Building Plans and Specifications for Building Construction
  4. Construction Contract – An executed fixed price contract for the work to be undertaken and 3 quotations
  5. Proof of Assured Income – Tenancy Agreement
  6. Evidence of Equity Contribution
  7. For Purchase of existing property – A letter of Offer or Sale and Purchase Agreement
  8. Details of Other Borrowings with confirmation.

Call Your Nearest Branch For More Information

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