Do You Meet The Following Requirements?
- Are a Fiji Resident OR
- Are a FOREIGN NATIONAL and meet Reserve Bank of Fiji (RBF) and Fiji Islands Trade & Investment Bureau (FTIB) foreign investment requirements
Documents To Be Provided When Lodging Your Application
- Approved Building Plan for work to be undertaken
- At least 3 Quotations for Building Construction
- Business Plan
- Title or Current Lease over Land to be used in Proposed Project
- Projected Cash Flow and Income Statement and Balance Sheet (for next 3 years)
- Latest 6 months Bank Statements
- Financial Statements for last 3 years (Audited Financials are required for loans in excess of $2 million)
- Debtors & Creditors listing with Age Analysis
- Personal Statement of Assets & Liabilities of Shareholders & Directors
- Authority to seek opinion from Banks & other Financial Institutions
- Working capital needs & means of funding
- Details of External borrowings (loan & lease facilities) with its confirmations
Building Type
(in cash) |
Equity Contribution |
| Non-specialized |
At least 35% of costs * |
| Specialized (hotels,motels, boatels and tourist resorts) |
At least 50% of costs* |
| Cost of the land, cost of construction for each contract, interest cost during construction and contingency allowance at 10 to 15% of construction costs. |
| Interest Rate |
13.5% per annum. |
| Interest is calculated on daily balance and charged automatically to your account monthly |
| Security Required(to adequately cover loan amount and may include) |
- Mortgage over project and land buildings
- Bill of Sale over assets owned and/ or to be purchased
- Collateral Mortgages over other owned properties
- Debentures
- Joint & Several Guarantees by the Directors/ Shareholders of the Companies
- Adequate All Risk Insurance cover for assets with the interests of the Bank considered
|
| Term of Loan |
10-15 Years |
Call Your Nearest Branch For More Information
