Merchant Finance empowers MSMEs
MERCHANT Finance Pte Limited (Merchant Finance) has been one of the major contributors to Fiji’s financial sector, providing tailored financial solutions to businesses for more than 35 years.
Many clients have grown alongside Merchant Finance, from humble beginnings as small merchants now undertaking substantial projects with the credit institution’s support.
“Many of our customers have remained with us for decades,” said Merchant Finance CEO Veilawa Rereiwasaliwa.
“They typically start as small merchants, seeking financing for working capital and then progress to acquiring vehicles,” Mr Rereiwasaliwa said.
“As their needs expand, they seek larger funding for bigger projects with us over time.”
He said Merchant Finance recently approved a loan for a West-based farmer, showing their dedication to supporting various sectors of the economy.
“We’ve also had a lot of farmers who are now running larger businesses.
“One exciting story involves a lady engaged in land development in the West. She runs that business independently, and it’s quite a significant investment we’re assisting with,” he said.
Merchant Finance is one of the associate sponsors of the MSME Conference.
He said the upcoming MSME Conference would present a unique opportunity for Merchant Finance to engage directly with stakeholders and help address the challenges faced by MSME operators. From market access to regulatory hurdles, Merchant Finance aims to streamline processes, facilitating smoother business operations.
Moreover, Merchant Finance is leveraging digital platforms to broaden access to funding.
“We currently offer a digital platform for unsecured loans, primarily for salaried employees. However, we are exploring expanding this service to business owners and launching digital platforms for secured loans and motor vehicle loans.”
Mr Rereiwasaliwa said this initiative aimed to provide MSMEs who may lack the means or time to visit major town centres for financing, with accessible funding options through online portals.
“Additionally, we aim to assist MSMEs with assets, such as land or agricultural leases, by using them as security for better access to funding at lower rates and with favourable terms.
“Through these efforts, we seek to unlock the potential of MSME assets and facilitate their exponential growth.”
Merchant Finance will continue with its long-term commitment to supporting MSMEs, envisioning sustained growth and prosperity for all stakeholders.
Mr Rereiwasaliwa encourages MSMEs to approach the conference with open mind and use the opportunity to establish valuable connections and explore avenues for business growth.