Top Gear Package
For all your Small to Medium Enterprise (SME) financial needs.What can you do with a Top Gear Package?
- Set-up business ventures
- Business expansion programmes
- Purchase & construction of commercial & Investment properties
- Purchase tool-of-trade such as plant, fixtures, fittings and machineries,
- Working capital
- Refinancing of existing debt on longer term
- 11.30% p.a fixed rate for first 6 months;
- 12.75% p.a variable rate (subject to variation in line with any movement in HFC's Index Rates generally)
- 15 years maximum
- 35% of actual project cost . Equity can be in the form of cash and/or surplus forced sale value (FSV) on landed security.
- Minimum $10,000
- Maximum $2million
What else can I get with my Top Gear Package?
- Mortgage Protection Insurance for Directors (Keyman's Policy)
- Homesure Insurance (Commercial)
- Term Deposit
- Housing and Personal Loan for Directors & Employees
- Medical Insurance for Directors & Employees
- Indemnity Guarantees
- 5 working days turnaround time on formal application
- Lump Sum reduction in loan repayments without any penalties provided that the loan is not paid-off within 7 years (Exception: Loans with initial term less than 7 years)
- Redraw of advance payments subject to redraw fee
- Consolidation of loans into one payment
- Option for 12 months interest-only repayment
- Interest charged on a daily reducing balance and charged monthly in arrears
- Group exposure should be within HFC's prudent lending limit
- HFC credit policy will apply
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What am I required to provide with my loan application
- Business financials for the last 3 years prepared by a charted accountant in line with minimum Fiji Accounting Standards
- Cash-flow forecast for the next 12 months
- Valuation report of property offered as security for the loan
- Engineer's certificate over property offered as security
- In the case of refinance, a 12-months loan account statement
- Other information / source evidence may be requested depending on the business proposal.