1. What kind of loans/products does FDB offer?
- Agricultural farming related
- Special loans for Fijians (CLFS) and all other ethnic groups (SBS)
- Industrial/Commercial projects
- Leasing
- Trade Financing (Export financing & Bill discounting)
- Small Business loans (SBES)
- Seed Capital Revolving Fund (SCARF) for Eco-Tourism, Forestry and Fishing
Refer to the Products section for details.
2. I want to start a business and would like to take a loan, what kind of loan should I take?
First you must find out what type of business you are going to set up. Once you have established this, call into the nearest FDB office and inform the officer of your plans. The officer should advice you of the appropriate product.
3. How do I go about obtaining a loan?
The steps to follow are as follows:
1. Before you call into any FDB office, you must first have a clear idea of what business you intend to start and other related matters,
2. Once established, enquire at your nearest FDB office to discuss your plan,
3. After your discussion with the loans officer, you should be provided with an acceptance/decline letter,
4. If your proposal is accepted, you are then required to formally apply for a loan. You will need to provide the following:
- completed application form,
- application fee,
- business plan (if applicable) and
- documents (listed in the acceptance letter).
After this stage, the Bank will then assess your application to determine its viability. You should receive a decision on your application within 2 weeks from the date of application (step 3).
If it is declined, you can find out from our officers the reasons behind it, reassess your proposal and re-visit our office.
4. What are the requirements I need to provide for my loan?
This will depend on the type of loan. For specific requirements, go to the “Products” section.
5. What is the Start Your Own Business (SYOB) Course that you require from me?
This requirement applies only to Fijian and Rotuman business owners who wish to loan under the small business equity scheme. This is one of the documents you are to produce if you intend to start a business but do not have any business tertiary qualification.
6. What is the interest rate charged?
This again depends on loan type but interest rates range from 8% to 13.5% per annum.
7. What is the term of my loan?
This depends on the type of loan. The table below shows the general terms as per loan type:
| Loan Type |
Term Range |
| Vehicles, Plant, Equipment, Vessels |
2-10 years |
| Construction/purchase of business/residential property |
10-25 years |
| Working capital |
1 - 5 years |
| Purchase of shares |
5 years |
| Export financing facilities |
60 to 180 days |
| Leasing |
2-5 years |
Note – refer to applicable loan facility for applicable loan term
8. How much do I have to contribute towards my loan?
| Loan Facility |
Equity Requirement |
| Agricultural loans |
20% - 50% of TPC |
| SCARF |
10% - 35% of TPC |
| Industrial and commercial projects |
35% - 50% of TPC |
| Special loans for Fijians and Others |
20% of TPC |
| Small Business Equity Scheme |
min. of 10% of total project cost |
9. Do all loan proposals qualify for the 10% equity from Government?
No. The table below shows the special criteria one must meet to qualify for the 10% equity.
| Terms |
Under CLFS |
Under SBS |
| Eligibility |
A Fijian or Rotuman |
Any other ethnic group |
| Bus. Turnover/asset value |
Up to FJ$100,000 |
Up to FJ$50,000 |
| Ownership |
100% locally owned |
100% locally owned |
| Special requirement |
Any of the following:
- Start Your Own Business (SYOB) certificate
- Improve Your Business (IYB) certificate
- 5 years business supervisory experience
- Letter of recommendation from any recognized micro-financier Demonstrable Business background
|
Demonstrable Business background |
10. What are the fees and charges?
Click Here for more details
11. How long does it take for my loan to be approved?
Within 2 weeks from lodgment date.
12. When can I get my funds/cheque?
The cheque is issued once the security documents and all pre-conditions (if any) are completed.
13. Do you have on-line applications?
Not at the moment but plans are underway to provide this facility.
14. Where can I apply for a loan?
Any of the 9 branches located nationwide. These are in Nausori, Sigatoka, Nadi, Lautoka, Ba, Rakiraki, Labasa, Savusavu and Seaqaqa.
