Fiji Development Bank (FDB) Ginger Loan Facility
The Fiji Development Bank (FDB) enhanced Ginger Loan Facility under the Agriculture Value Chain Financing (AVCF) model is specifically designed for new and existing ginger farmers that can access the loan package via the three (3) loan packaging categories to improve their production and promote the growth of the ginger commodity in the Agriculture sector in Fiji. Through this facility, the farmers are connected with the suppliers, providing them with a guaranteed market for their produce.
- Loan Fetaures
- Maximum Loan Ammount
Loan Features
Flexible loan term depending on purpose of loan.
Loans up to $50,000.
Interest Rate of 4.99% per annum.
No application fees. However, a standard Credit Information Reporting Agency (CIRA) search fee of $13.80 per search applies.
Minimum equity of 10.00%.
Guaranteed Market Access.
Normal FDB screening for credit assessment applies.
Financing Limits
Maximum loan of up to $50,000.00
FAQ’s
This facility is specifically designed for new and existing ginger farmers who can take advantage of the 4.99% Interest Rate per annum, with loans up to $50,000 whereby the loan term is subject to the loan purpose.
The new and existing ginger farmers can access the loan package via three loan packaging categories.
Through this facility, the farmers are connected with the suppliers, providing them with a guaranteed market for their produce. The two guaranteed suppliers engaged under the Agriculture Value Chain model for ginger include Kaiming Agro Processing Limited and Frespac Ginger (Fiji) Pte Ltd.
Category 1 – land development for the purpose but not limited to: green shade nets (for nursery purposes), fertilizers, labour hire, weedicides, seedlings, water pumps, land preparation, etc.
Category 2 – Purpose of loan includes: those noted in category 1, Land development, Infrastructure development such as storage equipment/facilities, hardware, bore holes and Purchase of farm machinery/implements.
Category 3 – For Joint Venture, Co-operative and partnership for purpose of loan which includes those noted in Category 1 & 2 and Construction of storage store.
1. New and Existing Ginger Farmers.
2. Ownership – locally owned or joint ventures with at least 51% local shareholding.
3. ALL applicants within the legal age limits.
4. Open to all types of land leases excluding Class J.
1. Joint FRCS/FNPF card confirming the tax identification number.
2. Photo ID.
3. Birth Certificate.
4. Bank Statement for last 6 months.
5. Support Letter and contract from Kaiming Agro Processing Ltd or Frespac Ginger (Fiji) PTE Ltd.
6. Business Plan.
7. Past Production: • Existing farm: evidence of farm production for past 2 years. • New Farm: production report from Provincial Office or Consultant
8. Title, current lease or approval notice over land to be used by proposed project.
9. Quotations and detailed costs.
10. Proper valuation of assets to be financed.
You can apply for this loan safely from the comfort of your own home – apply online. Applicants are to submit their loan application and upload the requirements through this portal. If you face difficulties you can contact us via email info@fdb.com.fj or contact your nearest branch for assistance.
Securities will be required in the form of assignment over proceeds, mortgage over farmland, assets to be financed or collateral security to back up the loan. You will be required to upload land lease document or documents for other forms of security on the portal .
Nil Application Fees. However, a standard Credit Information Reporting Agency (CIRA) search fee of $13.80 per search will be debited to your account. Other fees and charges apply as per our fees and charges schedule.
Call a Branch close to you – Find our branches OR email us at info@fdb.com.fj