Mosese Raqio 
[Photo: FILE]
Limited access to finance remains one of the biggest challenges facing women entrepreneurs in the country.
Fiji Commerce and Employers Federation Women Entrepreneurs Business Council Coordinator Fiona Dansey says many women struggle to secure loans because of strict collateral requirements and financial barriers.
Dansey says the council has been working with the Fiji Development Bank to help women access the Women Entrepreneurs Loan, which is designed to make financing easier.
Fiona Densey says the council assists members with loan applications, provides business training and offers recommendation letters required for the loan.
” So when you walk up to any financial institution, you can’t, you can loan but the collateral and what’s required of you sometimes it’s not hard but you face a lot of challenge.”
Dansey also highlighted financial literacy as another key barrier.
She adds that as an entrepreneur, it’s really important that you engage yourself and you try and join small professional business council, small professional circles.
Meanwhile, Fiji Development Bank Manager Marketing Kinijoji Bakoso says women make up nearly 30 percent of the bank’s portfolio accounts.
“So the mission of the bank is to provide robust service to sectors and enterprises that contribute to the sustainable development of the Fijian economy.”
Bakoso says the bank also offers loans for women entrepreneurs with no security or collateral required, provided the business has been operating for more than 12 months.
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