FISHERIES DEVELOPMENT FUND (FDF) SCHEME
Up to €500,000 (approx. SCR 7 Million| 3% interest p.a.| Maximum 12 years Repayment
The purpose of the FDF scheme is to further the economic development of the Fisheries sector, particularly aimed at improving the financing opportunities for local investors to participate in long line ventures and value addition. The project proposal is submitted to the Seychelles Fishing Authority (SFA) for its appraisal and recommendation. Once approved, it is forwarded to DBS for loan application procedure and financial appraisal. Approval of the loan is decided by DBS.
Projects to be financed under this scheme includes:
BIF Loan Details
Minimum SCR 15,000 – maximum SCR 5,000,000
Negotiable up to 12 years depending on the type of projects and asset(s) being financed.
Only 3%! It does not get better than this.
Financing up to 95% of the project cost. This means your personal contribution to the project can be as low as 5%.
To apply for an FDF Loan, you will need to submit the following:
- Loan application
- Business plan
- Supporting documentation
FDF accepts lease as collateral at a rate of 1:1