FDB receives 99.2% of COVID -19 recovery credit guarantee requests online


The FDB had received a number of inquiries about loans to MSMEs following the announcement of the 2021-2022 national budget in mid-July.

Saud Minam, Managing Director of the Development Bank of Fiji.

The Development Bank of Fiji has since Friday received 99.2% of online applications for its COVID-19 recovery credit guarantee program.

The program is a stimulus program announced by the Fijian government for micro, small and medium enterprises (MSMEs), as well as large enterprises to help them meet their financial needs and recover from the economic losses caused by COVID -19. pandemic.

The FDB had received a number of inquiries about loans to MSMEs following the announcement of the 2021-2022 national budget in mid-July.

Different types of companies have inquired about the program with FDB, which shows that there is a need for such a financial solution in the market.

FDB has recently worked hard to deliver its services digitally.

An article posted on Twitter last Wednesday, FDB announced that customers can apply for the COVID-19 recovery credit guarantee program online.

The Fiji Development Bank Twitter account said, “Dear Customers, we are delighted to bring you the # FDBCOVID19RecoveryCreditGuaranteeScheme via a dedicated link on our website – for your # convenience.

“Please click on the link https://fdb.com.fj/covid19recoveryscheme/… and APPLY NOW #MPME #TeamFiji #FIB #FijiBudget @SaudMinam.”

Last Friday, FDB Director General Saud Minam said on Twitter: “Weekly Bulletin 1 99.2% of requests received digitally.

“We’re just starting out #Fiji, check out the space for more excitement and convenience for #MPME. Thanks @FijianGovt @FijiAG for # Budget2021. @MCTTTFiji @fcef_fiji @fiji_et @FijiBankers @ FDB_50 @digital_FIJI.

Mr. Minam pointed out:

Number of applications received for FDB COVID-19

Recovery credit guarantee system

Received online = 131

Received manually = 1

Number of applications approved for the FDB COVID-19 recovery credit guarantee program

Approved = 17

Under evaluation = 48

Loan Value Approved FDB COVID-19 Recovery Credit Guarantee System

Approved = $ 650,000

Being valued = $ 2 million

Eligibility

Micro, small and medium enterprises (MSMEs) and existing and new large enterprises.

Eligibility is determined by the company’s turnover; the legitimacy of the purpose of the loan for taking over the business and for covering operating costs; prequalification requirements; more than one entity / company within a group is eligible; and start-ups that were not operational for a while due to the pandemic and now wish to apply for funding to operationalize the business.

How to register

If you are interested, you can safely apply for this loan from the comfort of your own bubble – apply online. Applicants must submit their loan applications through this portal

Or contact FDB for help applying in person, by appointment, emailing the subject of your loan, your business location, and your phone numbers at info @ fdb. com.fj.

Feedback: [email protected]

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