FDB receives over 16,000 online loan applications

March 3, 2023 4:35 pm

[Source: File]

The Fiji Development Bank has received over 16,000 online applications for loans from various sectors since 2021.

Chief Executive Saud Minam says as mandated under the FDB Act, the bank has been actively facilitating the development of businesses across the country.

He says this is particularly for sectors such as agriculture, wholesale and retail, manufacturing and real estate.

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“Our focus is towards agriculture, MSMEs and SMEs. 94 percent of our customer base belongs to these three segments, which is important for us to continue to grow in this segment, because most of the other banks, commercial banks today may not be catering to that sort of segments.”

Minam says he is proud to see the progress made regarding the various FDB loan packages, in particular for Small and Medium Enterprises.

The Chief Executive adds that the digitalization of services offered by FDB has made it convenient for people to apply for loans for prospective businesses.

He says members of the public can apply for loans of up to $5000 with other packages offering loans between $50,000 to $100,000.