Merchant Finance Limited has launched a new loan product to empower Fiji’s women entrepreneurs under the ‘Marama Finance’ initiative. The Women’s MSME loan product, backed by the Asian Development Bank (ADB), was created in response to the limited funding opportunities available to women looking to expand their businesses. CEO of Merchant Finance Ltd, Veilawa Rereiwasalia, highlighted the need for tailored financial products after recognising that the number of loans given to women-owned businesses did not reflect the large number of women-led MSMEs in the country. “With over 5000 women-owned businesses, we saw a clear opportunity to help bridge the funding gap and enable women to scale up their operations,” said Rereiwasalia. “This product is designed to provide women entrepreneurs with access to the financial resources they need to grow, whether it’s purchasing equipment, vehicles, or specialised machinery.” The new loan product offers loans ranging from FJD 5000 to FJD 500,000. The loans have an interest rate of 8.99%, which Merchant Finance says is one of the market’s most competitive rates. Additionally, it features a 200% loan-to-security ratio, allowing borrowers to access more funding than the value of their security, a first in the market for secured loan facilities. “We aim to support businesses in agriculture, forestry, and those requiring specialised machinery to reduce costs and increase scalability,” said Rereiwasalia. “This will help create jobs and further boost the local economy.” ADB’s Pacific Regional Director Aaron Batten supported the initiative, saying, “The Asian Development Bank is proud to back this important initiative that will empower women entrepreneurs in Fiji. Providing access to finance is key to unlocking their potential and fostering inclusive economic growth. We are confident that this partnership will pave the way for greater opportunities for women in business.” Merchant Finance Ltd. is dedicated to supporting women entrepreneurs with tailored financial products and services through Marama Finance and capacity-building initiatives. The new product is generating significant interest from women-owned MSMEs and aims to help these businesses thrive in a competitive market.