The Loan Packages under the COVID-19 Concessional Finance Support Package for Micro, Small and Medium Enterprises (MSME) received an overwhelming response with close to 9,000 applications valued at more than $62 million.
Minister for Commerce, Trade, Tourism and Transport, Hon. Faiyaz Koya, said the Government created these packages with the sole intent to help the most vulnerable Fijians.
“More than 3,000 applications have been assessed, out of which 2,339 have been approved valued at $18.7 million, so far.”
“The assessors are continuing to assess the remaining applications and we hope to complete the entire assessments by the end of September.”
Minister Koya added that the Government is doing its part to assist those affected by COVID-19, but now it’s up to the businesses, irrespective of whether they are a micro, small or medium business.
“We want businesses to be fully compliant and grow their business,” he said.
“We want them to adopt best practices, such as good governance and honesty that are vital for sustainable business.”
Minister Koya said he was happy to report, of all applications received, 43% were from women (and 57% men).
“This is a shift in the dynamics and represents confidence in their Government, by our women entrepreneurs.”
Minister Koya then thanked the Business Assistance Fiji Panel Members, namely Fiji Institute of Accountants, Women in Business, Fiji Commerce and Employers Federation and Fiji Chamber of Commerce Industry whom he had witnessed work tirelessly during the assessment.