Micro and Small Enterprises loans for budding entrepreneurs
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Fees and Charges
Terms & Conditions
- The facility is available in the form of Overdraft for day to day transactions and also in the form of Demad Loan for which repayment is made periodically as per sanctioned terms.
- All Micro and Small Enterprises in Fiji are eligible for Baroda Loan for Micro and Small Enterprises
- ‘Micro Enterprises’ means any enterprise which has a turnover or total assets not exceeding $30,000 and employs more than 5 employees.
- ‘Small enterprise’ means any enterprise which has a turnover or total assets between $30,000/= and $100,000/= and employs between 6 to 20 employees.
- ‘Medium enterprise’ means any enterprise which has a turnover or total assets between $100,000/= and $500,000/= and employs between 21 to 50 employees.
- There is nil margin in the facility
- Bank offers interest concessions of 0.50% by way of reimbursement at the time of last installment if all installemnts are paid regularly during the loan tenure without any default.
- Creation of General Debenture over Goods / Plant & Machinery
- In case of overdraft facility the Cheque Book is provided free of cost however applicable stamp duty to be borne by the borrower.
- Terms and Conditions apply