More than 1600 applicants for loan facility

FDB chief executive offi cer Saud Minam with women entrepreneurs who had received their loans under the Loan for Women Entrepreneurs facility, during a press conference at the FDB office in Suva yesterday. Picture: MONIKA SINGH

The Fiji Development Bank’s Loan for Women Entrepreneurs facility launched two months ago has so far received more than 1600 applications.

FDB chief executive officer Saud Minam said the positive feedback had prompted the bank to continue with the product.

At a press conference yesterday Mr Minam said the loan facility enabled women entrepreneurs to apply for the loan to assist with their businesses.

With this new facility the FDB also plans to increase its female customer base from the existing 11 per cent.

The newly appointed Relationships and Sales general manager Titilia Kamil said some of the key challenges that women entrepreneurs faced included equity and security to apply for loans from banks and other financial institutions.

Ms Kamil said the absence of the two restricted women from applying for financial assistance for their businesses.

She encouraged women entrepreneurs to apply for the loan and take advantage of the product.

Meanwhile some of the successful applicants thanked the FDB for coming up with a product that was specifically for women entrepreneurs.

Seema Swastika who runs her canteen said her loan application was approved and she had received $5000 which she used to upgrade her canteen kitchen and bought new equipment for her canteen business.

Ms Swastika encouraged other women to take advantage of the loan facility from the bank to expand and upgrade their businesses.

More Stories