Baroda Loan for Micro and Small Enterprises

• 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 that has a turnover or total assets of less than F$50,000.00
• ‘Small enterprise’ means any enterprise that has a turnover or total assets between F$50,000.00 and F$300,000.00.

• There is nil margin in the facility

For Fees and Charges Click here

• Interest concession @0.50% by way of reimbursement at the time of last installment provided all installments paid regularly during the currency of loan without any default.
• Creation of General debenture over Goods / Plant & Machinery and other usual undertaking
• Undertaking from applicant to be obtained that He / She has not availed any loan for same purpose from any other banks/FI and He / She has had no insolvency proceedings against him/her nor have ever been adjudicated insolvent.
• Assets verification to be done as per bank’s extant guidelines.
• Payment of loan proceeds will be made directly to dealers or loan proceeds may be disbursed on cash basis wherever payment to suppliers is not possible. For working capital needs of the Borrower, the overdraft limit can be extended for meeting day to day recurring expenditure.
• Terms and Conditions apply.