The Livelihood and Investment Facility or LAIF is a hybrid development loan that is not fully developmental in the normal sense. Normal developmental loans are expected to generate enough income to meet its operating costs, meet loan repayments and make a profit from the proceeds of the loans. LAIF will fund developmental and livelihood loans, but repayments will be made from the borrowers’ salary. Borrowers may use proceeds of the loan to pay down their debts quickly, and are in fact encouraged to repay their loans as quickly as possible especially if the project they started needs further capital for expansion or if there is a desire to try some new venture, and so on.

The rationale for LAIF loans is to provide the working Solomon Islander the ability to acquire funds to develop their traditionally owned land and venture into activities of interest to them in the productive sectors using their current income to secure loan repayments to the Bank. The items to be funded will assist in developing investments for the future, generate an additional source of income and to improve living conditions in the rural areas.

Loan Features

Eligibility: Any Solomon Island citizen who is of legal age and in employed on a full-time basis for at least 2 years
Purpose for loan: Any farming fishing or entrepreneurial livelihood or investment activities outlined above under eligibility
Security: 
  1. Lien over SINPF retirement savings
  2. Charge over assets under the Secured Transactions Act 2008
Interest Rate: 13%
Term: 5 years Maximum
Establishment Fee: Flat Fee of $750.00
Minimum Loan: $5,000.00
Maximum Loan: $75,000.00, amounts greater than $75,000.00 can be considered depending on the ability to pay
Equity:  This will be required if the loan repayments for the amount sought is greater than the Bank’s allowable margins 

Make an Enquiry to find out more about mandatory documents and other requirements for this loan.

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 branches are located at: Room 27 of SINPF Plaza and on the FIrst Floor of Anthony Saru Building. You can also Contact Us from this website.