Fiji Time: 9:32 PM on Saturday 25 October

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New loan schemes for sugar

Felix Chaudhary
Monday, December 24, 2012

THE Sugar Cane Growers Fund has announced two new loan facilities for sugarcane growers in the country.

The new funding was announced in the wake of Tropical Cyclone Evan and the widespread devastation caused to farmers' dwellings and sugarcane fields in the Western Division.

SCGF chief executive officer Sada Sivan said while the two new loan facilities were primarily designed to provide access to funds to those affected by the cyclone, it also provided an opportunity for growers to upgrade equipment and improve farm-related activities.

"The Priority Loan has a ceiling of $5000," he said.

"It is unsecured and has a recovery period of five years.

"However, it is called priority because our repayments will take priority over industry-related costs like advances from the Fiji Sugar Corporation and fertiliser costs.

"The specialised loan requires security because it has a ceiling of $50,000 so we will require some form of collateral," he said.

Mr Sivan said all processing and paperwork for the loans were offered free and there were no other costs to the cane growers involved.

"These loans are there for farmers to take advantage of to rehabilitate their homes, purchase clothes and bedding that may have been lost during the cyclone and also to prepare children for the new school year," he said.





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