SUNBIZ

Bank Receives 1,600 Loan Application

The Fiji Development Bank had received more than 1,600 applications for the Women Entrepreneurs loan programme.
25 Sep 2022 16:17
Bank Receives 1,600 Loan Application
Fiji Development Bank general manager relationships and sales Titilia Kamil (middle) with women entreprenuers, (from left) Seema Mohan, Sofia Ali, Melaia Adi and May Fong on September 23,202. Photo: Laisa Lui.

The Fiji Development Bank had received more than 1,600 applications for the Women Entrepreneurs loan programme.

FDB’s chief executive officer Saud Minam said the number of applications were promising after it was launched on August 1.

Mr Minam said the total num­ber of applications received were worth close to $6 million.

“It’s a great success and we would like to continue with the programme,” Mr Minam said.

“We have received applications from different segments, such as construction, catering, flori­culture and handicraft.

“We have processed 35 per cent of the application and we’re still processing the applications and we’re not stopping.

“All these applications have come to the digital needs,” he said.

Mr Minam said the focus was to increase their female custom­ers from 11 per cent to 25 per­cent in the next few years.

General manager relation­ships and sales Titilia Kamil said: “With this facility 10 per cent equities provided by the Government and with no secu­rity.

“From the Bank’s perspec­tive, relationship and sales, we would encourage all our women entrepreneurs to please make use of this time to lodge appli­cations through the portals or calling the branch to maximize the opportunity.

One of the women entrepre­neurs who have benefitted from this facility was Sofia Ali owns a general construction business.

Ms Ali has been running her business 786 Dream Build Con­tractors for 13 years.

“I am very grateful to FDB for this loan facility as it has helped in enhancing my business,” Ms Ali said.

“With the loan, I have bought more tools for my construction workers to assist them and also speed up their work.”

Story By: laisa.kabulevu@fijisun.com.fj



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