MSME Credit Line Facility
The Micro, Small, and Medium Enterprises (MSME) Credit Line facility is an initiative of the Solomon Islands Government through the Ministry of Commerce, Industry, Labour and Immigration (MCILI) Private Sector and SME development program to enhance development of MSME sector in Solomon Islands to boost Economic growth. MCILI granted $10 Million to the Development Bank of Solomon Islands (DBSI) is to assist with the MSME Credit Line Facility.
The credit facility program focusses in providing financial support to existing and potential MSMEs, especially women and youth entrepreneurs’ start-up with the intention of increasing production and generating more jobs opportunities in stimulating growth by assisting along the following lines:
- To provide loans to MSMEs who wish to expand existing products in line with the Banks’ lending policy.
- To provide loan guarantees to support existing/new entrepreneurs who are provided loans who wish to improve existing products in line with the Banks’ lending policy.
Features
| Eligibility | Solomon Islands registered entrepreneurs who have existing/new businesses that need to be assisted to during this Covid-19 pandemic. |
| Purpose for loan | To support MSME business entrepreneurs with funding to help sustain the economy of the country in these difficult times.MSME Credit Line is to cover the following purposes:To improve existing/new businessesFor working capital requirementsTo assist with export credit facilities |
| Security | Charge over MSME’s assetsGuarantee by the MCILI under the guarantee scheme |
| Interest Rate | 8% |
| Term | Maximum of 5 years |
| Minimum Loan | $10,000 |
| Maximum Loan | $3,000,000 |
How to apply?
We are always ready to help you get started on your application so please do visit our main branch or a branch nearest to you. You can also Enquire about this product online or download our Standard Forms.
Where to apply?
Our branch is located at: First Floor of Anthony Saru Building. You can also Contact Us from this website.