Purpose

• Household expenses and payment of store accounts.
• Drainage works or fencing.
• Clearing fallow land/farm improvements.
• Purchase of farm animals/farm implements.
• Purchase of cane farm (70% finance only. Equity may be provided by way of cash or additional security by way of Real Estate equivalent to 30% of the cost. Lending will be based on the Bank's valuation or professional valuation (if available).
• To finance purchase of tractor/truck/van (66% equity finance only), equity may be provided in the form of cash or additional security by way of Real Estate equivalent to 34% of the cost.
• Construction of a low cost residential house.
• Payment for annual land rentals.
• Wedding, funeral expenses and medical costs.
• Children's educational expenses.
• Other propositions considered on case by case basis.

Entry Conditions

• Must be over 21 years
• Past conduct of account must demonstrate strong debt serviceability.
• An existing lease and title is available
• Sources of Income must be verified
• Proposals must be fully secured via tangible securities.
• New and additional loans will be considered where at least 5 years lease term still remain.
• Farm inspection and valuation must be carried out.
• No Class J lease will be entertained.

Standard Documents required

• Copy of farm certificate and cane contract
• FSC certified production record for 2 years
• FSC statement of income and expenditure for the last 12 months.
• Copy of land lease documents and receipts of rental paid.
• Financial statements
• Right of land use — title, current lease, approval notice

Repayments

• Reduction program set in the proposal stage to ensure that the loan reduces every 12 months over the loan term.
• The minimum reduction should be at least 20% of the loan amount each year with full clearance by year 5.

Security
Main Security required include:

• Irrevocable Authority addressed to the Fiji Sugar Corporation to direct all cane proceeds to the farmers account at the Bank.
• Crop Lien over the farmers standing crop.
• Registered bill of sale over chattels (tractor, van etc)
• Registered mortgage over farmers freehold and leasehold land.
• Assignment over insurance policies
• Lien over Term Deposits
• Third party guarantees

Special Conditions
There are special conditions pertaining to this loan which need to be fulfilled before funds could be disbursed.