FDB Recovery Credit Empowers Thousands
‘FDB IS CONFIDENT THAT THE SCHEME HAS A
The Fiji Development Bank’s (FDB) COVID19 Recovery Credit Guarantee Scheme has so far assisted more than three thousand businesses.
Chief executive officer, Saud Minam, said that the Bank, through this Government guaranteed Scheme, is supporting Fijians in times of their need by providing financing to existing businesses as well as empowering those who have been impacted by the pandemic-induced reduced hours or job losses to startup their own business.
“Fijians thinking outside the box, reflecting their innovative mindset, gathering courage to start an entrepreneurial journey is encouraging for our economy,” he said.
“As a development bank we are excited to see the resilience of our people coming out to access financing to restart / startup businesses and seeing existing businesses finding ways to stay afloat,” he said.
“FDB is confident that the Scheme has a positive impact on our economy especially through the success stories we are seeing,” said Mr Minam.
“Customers have come back to us to saying that the assistance has been so timely, and just the boost they needed to get back on their feet, keep their staff employed and continue with their services to customers,” he said.
Fiji Sun has started compiling success stories of those businesses that have accessed financing under the FDB COVID19 Recovery Credit Guarantee Scheme.
We will bring you these stories every week to showcase how the National Budget support loan scheme is empowering thousands of Fijians to help our economy post-COVID.
FDB Helps Fulfil Dream of Business Owner
My Choice Distributors Pte Ltd is a local family-owned Nadi-based business with nine employees retailing and distributing local produce, seafood and Yaqona.
Company Director, Rajesh Kumar comes from a farming background in rural Tunalia Village in Nadi.
Being an enthusiastic farmer, he has always dreamed of owning a fresh produce business.
During his bachelor days had tattooed “MY CHOICE” on his hand and 38 years later registered his first business “My Choice Distributors Pte Ltd through a loan from FDB.
“We would like to first of all thank the Government of Fiji for encouraging entrepreneurs to venture into business through the COVID-19 recovery loan scheme, which has given local businesses the opportunity to revive their operations,” said Mr Kumar.
“We approached FDB for this Scheme seeking funding to finance our dream business and help support the local economy,” he said.
“With the funding from FDB, the company has opened up a local seafood retail shop in Nadi Town, selling local fresh A-grade fish, crabs, lobsters, frozen root crops and yaqona.
“We are also setting up a fillet room in the same premises for filleting bigger fish such as Walu, Mahi Mahi, Marlin and others to be supplied to local hotels and restaurants, which will further boost our operations,” said Mr Kumar.
“Our current operations involve buying of fresh fish directly from fishermen in
Ba, Yasawa Islands, and other nearby islands, and wholesaling it to local fish shops and, fish market vendors in the Central Division.
“We are also in talks with Investment Fiji, who are assisting us in getting new clients from Australia and New Zealand for us to export Fijian Grown products abroad,” he said.
“We have recently introduced few of our own products to boost sales such as Pooja Mango Sticks being supplied to local supermarkets, My Bu 100% pure coconut water available from our retail shop, and Ready to Fry Fish, a masala marinated fish cuts, available from our retail shop as well,” said Mr Kumar.
The company’s next project is building a designated Biosecurity Packhouse on its premises in Tunalia Nadi, which will further cater for large export quantities, including seafood.
“We would like to thank FDB again for considering our application and also believing in us by providing us the much-needed finance for this business to grow.
“We largely dedicate our company’s success to FDB and the Government of Fiji,” said Mr Kumar.
Both Mr Kumar’s sons are fully engaged in the business operations.
Home-based Nursing Care to Support Community
Jireh Nursing Care and Consultations, owned by Rajshree Baleisuva, is a unique business that has opened its doors to serve the Rakiraki and neighboring communities just recently.
As the name suggests, the Jireh Nursing Care and Consultations provides basic nursing care for those who need it at home.
Rajshree Baleisuva has 29 years of experience in nursing and has also worked for the private sector and Non-Governmental Organisations.
“The kind of services we provide include care for stroke patients, those that need palliative care, checking of sugar, pressure, those needing wound dressings, advice on NCD prevention lifestyles, for children with special needs needing private nursing care at home and counselling services for better health and mental health,” said Mrs Baleisuva.
“We started off with the loan from the Fiji Development Bank under their COVID19 Recovery Credit Guarantee Scheme to meet working capital needs,” she said.
She said that her business will provide consultancy services in the health care sector as well as educational, cultural, and social services in the future.
“The struggles that I have faced in my life personally always drove me to help those in my community.
“Since I was already helping people with my nursing assistance, I thought it would be a good idea to focus on this full time, at a minimum fee so I can meet my basic needs too. That is how this business idea came about,” said Mrs. Baleisuva.
“With FDB and the Government’s assistance I will be able to help so many more in my community,” she said.
Currently the business operates from Rakiraki but can also be available in the neighboring towns.
Mrs Baleisuva acknowledged her husband who she said has always supported her decisions.
“Looking at the pressure placed on our hospitals and frontliners due to the COVID19, I hope that my business adds that helping hand for the Ministry,” she said.
She said the FDB COVID19 Recovery Credit Guarantee Scheme was a blessing and timely help for her business.
A registered nurse, Mrs Baleisuva in her spare time devotes herself to community service through her church activities by helping those affected by the pandemic to find short-term employment at nearby farms and businesses.