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
- Have a business that is 100% locally owned
- Own or Intending to Purchase a business which has an annual turnover of $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?
Further, Do You:
have your project 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
SecurityRequired
(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 security
|
| Exclusions |
- Businesses with annual turnover of above $50,000
- Purchase of vehicles of 3 tonnes and below
- Loans for taxis in Suva and Nausori
|
| 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 |
| Vehicle Type |
Loan Term |
| New Taxis and Hire Cars |
5 years |
| New Utilities and Vans |
3 years |
| New Trucks |
4 years |
| Used Vehicles of 3 years |
3 years |
| Tractors and Heavy Rolling Equipment |
7 years |
| Plant & Equipment |
10 years or working life, whichever the shorter |
Documents To Be Provided When Lodging Your Application
- Business Plan
- All Vehicles – LTA Certificate of Road Worthiness
- 3 Quotations for the Fixed Asset to be purchased
- Contractual Agreement
- Financial Statement for last 2 years (for established businesses)
- Income & Expenditure Statement and Cash Flow Projections for 3 years (for new businesses)
- For Taxi Operators – A Taxi Permit and a Taxi Base
- For Hire Care Operators – A Hire Plate Licence
- Evidence of Equity Contribution
- Details of Other Borrowings with confirmation
Call Your Nearest Branch For More Information
