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Posted By Staff Reporter
The National Development Bank (NDB) currently offers a range of Products and Services that can be tailor suited to you or your business(s) specific needs. NDB strives to offer Products at competitive rates with emphasis on providing affordable and sustainable finance to ordinary Papua New Guineans and the rural and urban entrepreneurs. NDB will continue to offer new products later including the Savings Products. AGRICULTURE LENDING
Commercial Loans A Commercial Loan is any loan that includes the following:
NDB MICROFINANCE
NDB offers microfinance loans to help realize your dream of increasing your income sources and support your family needs. You can borrow small loans to finance your income-generating activities (IGA) whether it be a small trade store, buying and selling, market vending, dress-making, poultry raising or any other small-scale economic activities with quick cash turnover. You can borrow small amounts to finance your stocks and inventories or buy small equipment such as fridges, coolers, sewing machines or any small machines used to run your business. Loan repayments can be made conveniently in the village where you reside or conduct your business. At a very low interest rate and easy repayment terms you can start running your own business and be your own boss! Don’t miss this opportunity. How To Access NDB’s Microfinance Services All you have to do is to contact the nearest NDB branch in your location and get in touch with a Microfinance Field Assistant. Apply for any of the loans described below: Kisim-na-Bekim Bisnis Loan No savings required. You can get a loan from as low as K300—5,000 to finance your small business. Pay every fortnight right in your village over a period of 6-12 months. Tutu Bisnis Loan No savings required. You can get a loan from as low as K300—5,000 to finance your poultry business. Pay in lump sum amount after selling the chicken. All-purpose Loan No savings required. If you are employed, you can get a loan from as low as K300—2,000 to finance your household needs. Pay in a maximum of 12 months. NATIONAL FISHERIES CREDIT FACILITY The National Development Bank (formerly Rural Development Bank Ltd) and The National Fisheries Authority (NFA) signed a Memorandum of Agreement (MOA) on the 12th January 2007 paving way for the establishment of the Fisheries Credit Facility. The facility was established to assist coastal fisherman, inland fish farmers and fish exporters with access to credit on commercial basis. A number of awareness meetings have been conducted so far between NFA, the respective Provincial Fisheries Office and NDB in a number of coastal and Highlands provinces. These meetings are geared towards explaining the Fisheries Credit Facility and the eligibility requirements of accessing credit. Under this credit facility there are three lines of credit to carter for the needs of almost every Papua New Guinean from the grassroots level to the local exporters. Under this credit facility there are three lines of credit to carter for the needs of almost every Papua New Guinean from the grassroots level to the local exporters. 1. Micro-credit line With the aim to deliver small lines of credit to village based fishermen or enterprises that may not necessarily have access to credit from mainstream financial institutions. 2. Small Enterprise Credit-line With the aim to targets small fishing enterprises with financial assistance to assist small enterprises to strengthen their operations and become new segment of small enterprises operating within the fisheries sector. Under this credit line, it is anticipated that they will be able to pledge some form of tangible collateral to the Bank to secure credit funds from the facility. 3. Business Credit line Aims to specifically target the established private fishing companies and may also be extended to those individual members of fisheries cooperatives or associations that have been successful and are expanding their operations or seeking to improve internal management. RURAL HOUSING LOAN PRODUCT Funds for Rural Housing Loans are appropriated in the National Annual Budget. These funds are given to the National Development Bank Ltd to on-lend as loans for rural housing. The extent of financing for such loans is limited by the amount appropriated each year in the National Budget. The loans are given for the purchase of building materials to construct or improve existing home in rural areas. The maximum loan term is six (6) years. All applicants should exhibit the ability to repay to a maximum of 25% of net annual income. Such net income could be derived from farming or wages/salaries. The applicant must build the house in his/her village or permanent place of settlement in the rural area. Where possible security is taken to cover loans. For additional information please contact the National Development Bank Ltd, Lending Division enquiries on 3247500. Pamphlets Business Credit Line Enterprise Credit Line Fishing Business Credit Line PCD Credit Line SBDC Small Business Credit Line Women In Textile Micro Finance Pamphlets General Micro Finance Micro Finance Credit Line TPA Tutu Loans Information Source: ndbpng.wordpress.co |
Doing Business in Papua New GuineaOn this page we provide all the details about doing business in Papua New Guinea. Feel free to contact us for further information.
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