Do You Meet The Following Requirements?
- Are you a Fiji Resident OR
- If a FOREIGN NATIONAL meet Reserve Bank of Fiji (RBF) and Fiji Islands Trade & Investment Bureau (FTIB) requirements for foreign investment.
| Loan Type |
Term Of Loan |
| Plant & Equipment |
7 years or working life, whichever is lower |
| Hire Cars & Taxis |
5 years |
| Utilities & Vans |
3 years |
| Tractor |
7 years |
| Heavy Rolling Equipment |
7 years |
| Trucks |
4 years |
| Interest Rate |
13.5% p.a. |
| Interest is calculated on daily balance and charged automatically to your account monthly. |
| Equity Contribution(In Cash) |
At least 35% of the buying price of the asset EXCEPT FOR TAXIS which is 50% of Total Project Cost. |
Security Required
(to adequately cover loan amount and may include) |
- Mortgage
- Debentures over assets
- Joint & Several Guarantees by Shareholders and Directors of the Company for total liability
- Adequate Insurance Cover
- Bill of Sale over asset purchased
|
Documents To Be Provided When Lodging Your Application.
- 3 quotations for Asset to be purchased
- Details of External Borrowings with its confirmation
- Business Plan
- Projected Cash Flow Statement and Profit & Loss Accounts (for next 3 years)
- Financial Statement for last 3 years
- Latest 6 months Bank Statement
- Debtors & Creditors Listing with Age Analysis
- Personal Statement of Assets & Liabilities of Shareholders & Directors
- Authority to seek opinion from Banks
- Source & Evidence of Equity contribution
- Pro Forma Invoice for equipment/asset
- Working capital needs and means of funding
- Evidence of experience in the operation of Taxis or Hire Cars or Construction Plant & Equipment
- LTA Documents as follows:
| Vehicle Type |
Documents Required |
| All Vehicles |
- Certificate of Road Worthiness
- Current Road Service Licence
- Current appropriate Driver’s Licence
|
| Taxi Operators |
A Non-transferable Taxi Permit and Taxi Base |
| Hire Car Operators |
A Hire Plate Licence |
Call Your Nearest Branch For More Information
