Purpose
- Construction of chicken shed
- Development of site: refers to bulldozing & leveling
- Water and Plumbing costs: includes the installation of Water Tanks and Water Pumps
- Infrastructure construction: These are contractual work on maintenance of roads, drains, etc.
Do You Meet The Following Requirements?
- are at least 21-years old
- are a Fiji-Citizen
- are a full-time and bona-fide farmer
- are a Current Grower Contract- Holder with Goodman Fielder or Padarath Chicken for no less than seven (7) years
- Is your leased land area more than five (5) acres
- Is your farm accessible by road & located along the Navua, Lomaivuna- Nausori- Korovou corridor or within the Ba-Tavua- Lautoka corridor.
| Maximum Loan: |
80% of the Total Project Cost |
| Interest Rate: |
8% per annum |
| Interest is charged on daily balance and automatically charged to your account monthly |
| Term Of Loan: |
8 years maximum term inclusive of grace period |
| Equity Contribution: |
A minimum of 20% of total project cost* |
| *This may include cash, the value of the land or costs incurred to acquire the same & improvements made. |
Security Required
(to adequately cover loan amount and may include) |
- First Mortgages or Notification over Land Lease
- Bill of Sale over asset owned or to be purchased
- Assignment over Chicken proceeds from Goodman Fielder Ltd or Padarath Chicken
- Personal Guarantees
- Any other appropriate security
|
| The security will vary based on projects & loan amount. Borrowers will not be permitted to encumber their assets further without Bank’s written approval. |
| Repayments |
Quarterly proceeds from Goodman Fielder or Padarath Chicken. |
| The Bank reserves the right to deduct above normal repayments whenever required. |
| Exclusions |
- Class “J” Lease
- Co-operatives
- Group Ownership
- Absentee Farmers
|
| Fees & Charges |
The Bank’s standard fees and charges will apply (refer brochure) |
Documents To Be Provided When Lodging Your Application
- Registered Title with long term lease or Current Lease for land area not less than five (5) acres with unexpired term of not less than ten (10) years
- A written Grower Contract with Goodman Fielder or Padarath Chicken for no less than 7years
- Evidence of selection recommended by the Bank and Goodman Fielder
- A letter of Recommendation from the Poultry Section of Ministry of Agriculture
- A Construction Contract that includes three (3) appropriate quotations from reputable contractors (at a fixed contract price) to construct the proposed chicken shed, infrastructure, plumbing works and site levelling costs.
Call Your Nearest Branch For More Information
