Eco-Tourism & Village Based Tourism Projects

Loan Purpose

Development of Site
Construction of accommodation, lodge and other related facilities,
Land and Water tourist related facilities,
Financing of Marketing cost,
Infrastructure Construction and
Working Capital (for operation/establishment of eligible enterprises but is not to exceed more than 30 per cent of the loan amount) (The above can include acquisition of fixed assets like the purchase of land, buildings, machinery and equipment for existing or establishment of such businesses.)

Do You Meet The Following Requirements?

are at least 21-years old
are a Fiji-Citizen registered in the Vola ni Kawa Bula or the Rotuman’s Birth Register
are you either an Individual, in a Partnership, Cooperative or Corporate Entity
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

Maximum Loan	FDB loan will be 65% of Project Cost and is not to exceed $65,000
Equity Contribution	At least 35% of total project. cost (25% cash can be provided by the Government under SCARF with the balance of 10% by the applicant in cash or kind). The SCARF contribution will not exceed $35,000 per project.
Interest Rate	8% per annum
The FDB portion of the loan is charged at 8% p.a. with the SCARF portion being interest free.
Term Of Loan
Fixed Asset	Maximum Term (years)
Buildings Construction/Purchase	15 years
Plant & Equipment	7 or shorter of working life.
New Boat and Engine
Small Loans ($6,000 or less)	2
Medium Loans ($6,001 - $30,000)	5
Large Loans (more than $30,000)	7
Buses
New	8
Used and Refinancing of Used Buses	8 reduced by age of bus
Reconditioned Buses	4-6 dependent upon viability
The working capital portion of the loan can be included together with any of the above items and qualify for the maximum term.
Security Required (to adequately cover loan • amount and may include)	First Mortgage Bill of Sale Mortgage Debentures Assignments Directors Personal Guarantees Other Collateral security
Exclusions	Existing projects whose annual sales exceeds $100,000 per annum

Documents To Be Provided When Llodging Your Application

A completion certificate from the Start Your Business (SYB) and/or Improve Your Business (IYB) training programs with the Ministry of Trade & Commerce OR 5 years experience in operating a similar business at Supervisory level
Loan proposal submission from the Ministry of Tourism stating that the proposal has met their requirements including:
- Business Plan or Feasibility Study and
- Cash Flow Projections – monthly for the first year and annually for the next 2 years. Travel Agency and Tourism financial certification.
Right of Land Use/ Building use – Copy of Registered title or current lease over land or Tenancy Agreement where the term of lease must exceed loan term
Copy of Building Plans and specifications for building construction
Business Licence – Local / Rural Authority
Company Registration Certificate – Registrar of Companies
VAT certificate and other related documents from Inland Revenue Dept.
Financial statement – last 2 years (established businesses)
Construction contract – 3 quotations for construction works and an executed fixed price contract for the work to be undertaken.
3 quotations for plant, equipment, vehicles or other assets to be purchased
Marketing arrangements or contracts for service to be undertaken

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