The Fiji Development Bank has so far received close to 1,600 applications through its new facility for women entrepreneurs.

The aim of the FDB Loan for Women Entrepreneurs is to strengthen the bank’s capacity to promote gender and diversity.

Chief Executive Saud Minam says the total of 1600 applications is worth $6m.

Minam says 35 percent of the applications have been processed, of which close to 25 to 30 percent have been disbursed and there might be some delay in the processing of the applications.

“We have to understand that sometimes the process takes a bit longer. The applications which are submitted with certain documents may not be the complete documents. So the team has to go back to the customer, get the documentation, and go through the reassessment process again.”

FDB is expanding its footprint, especially in the female entrepreneurship space.

FDB Loan for Women Entrepreneurs was launched on the 1st of August this year and, according to Minam, they are continuing to accept applications.