The National Development Bank Limited has introduced four new products at an interest rate of four percent, according to acting Managing Director Aaron Underdown.
The four products offered under the Government Micro, Small and Medium Enterprise (MSME) Funding are, Women in Business (WIB), Youth and Small Business Enterprise (YSBE), Bougainville Enterprise (BEL) and Agriculture (MSMEAG) Loan products.
Underdown said the roll out of these new products began on Monday, 15 March, 2021 which means interested local MSMEs can now send in applications to access them.
The WIB product is for women owned businesses only.“If you are a local woman who have established a business or would like to establish one, must have a registered business name with IPA so that to be eligible for this loan product,” Underdown said.
The YSBE loan is for any genders that wish to start or grow their local businesses in any trade given that they meet all the lending requirements.
The BEL product is for only local Bougainvilleans that wishes to start or grow their businesses.
“If you are a local Bougainvillean who have established a business or would like to establish one, this product is for you,” Underdown added.
The Agriculture loan product is for anyone that would like to venture into any agricultural businesses or have ventured into one and would like to expand.
“All four products have a start-up package of K5, 000 to K100, 000 and grower package of loans up to K500, 000,” Underdown said.
He further reiterated that all these products are subjected to responsible lending requirements.“Customers are urged to visit a nearest NDB branch to obtain lending requirements, application forms. Customers are also encouraged to visit the NDB Facebook Page and Website: www.ndb.com.pg more information,” he said.
The Four New Products 1. Agriculture Loan 2. Women In Business 3. Youth & Small Business 4. Bougainville Enterprise Loan