More than 3,500 application forms have been taken and 45 applications have been received under the government’s concessional business loan initiative in the first seven days since the initiative started.
The initiative was launched to assist micro, small and medium enterprises in the country after the serious effects of the COVID-19 pandemic.
Minister for Commerce Industry and Trade Faiyaz Koya says they are still in the early stages and these applications are ready for assessment.
Koya says the response has been very positive since the launch and it is good to see small and medium enterprises getting creative and helping the Fijian economy.
He says they are hoping that more Fijians will forward and make the initiative successful so that other people can be employed as a result.
People have the end of this month to apply for loans.
Minister for Economy, Aiyaz Sayed-Khaiyum had earlier stated that micro-enterprises are those businesses that have an annual gross revenue of up to $50,000, small enterprises are those with an annual gross revenue of up to $300,000 and medium enterprises are those getting revenue from $300,000 to $1.25 million a year.
