Rural Farmers and SMEs can now seek a loan for their business

RBV approved loan that is hoped to assist farmers and small businesses catalyzing their business

Photo by Kaique Rocha from Pexels

TechInPacific – The marketing department of Vanuatu Rural Development Bank (VRDB) confirmed the launch of business loans geared toward small businesses and farmers on Monday (10/01).

The offered loan ranges from VT50,000 (USD440) up to VT3 million (USD26K), can be repaid in monthly term with a 4% interest rate.

Agriculture farmers in livestock, fisheries, and forestry services will be one of VRDB target programs, along with value-adding services, including services (tourism, retails), and other SMEs industries.

Small businesses applying for a land mortgage have to ensure that they’re dealing with registered lands, and property charges will be applied in offered products according to VRDB. Meanwhile, Government also takes the land as a guarantee.


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