Easier finance for starting a business
29 October, 2016, 12:00 am
DO you want to start a business, but worried that you cannot finance the items needed for your business?
BSP Finance (Fiji) Ltd (BSPF) has introduced Hire Purchase product that will facilitate the financing of items which cannot otherwise be classified under a Bill of Sale and more so specialised in nature.
BSPF general manager Krishna Raju said this product had been specifically designed to assist business houses, upcoming entrepreneurs and professionals to acquire items which may be difficult to finance under normal circumstances.
He said the product was slightly easier access to finance, however applicants needed to fulfil the minimum requirements.
“We will be very competitive as well,” Mr Raju said.
Those who wished to qualify for the product need to be a registered business, proven repayment capacity, ability to service debt and item acquired is from a reputable supplier who has the ability to provide warranty and back-up service.
Mr Raju said there were small formalities which they needed to fulfil as well and which could be explained at the time of seeking finance.
“This product is for business customers for a start only.
“We hope to roll out consumer finance sometime in the near future. I am sure once we explain to a potential customer the suitability of this product, there will be no looking back,” he said.
He said Hire Purchase Product was introduced because there was a market for it and an opportunity to build pillars for small to medium enterprise to develop into a bigger and better business.