Women & Development
Empowering the women in our community
What is a Women & Development
To assist with the development and expansion of the role of women in business & general development in Tonga, finance is available for lending to income generating projects as well as social development projects. These projects are to be implemented and managed by women. Both women’s groups and individuals are eligible for funding.
For women’s groups, applications must be channelled through the women’s section of the Extension Division of MAF for perusal and recommendation.
Why go with us?
Tonga Development Bank’s Women & Development loan has:
- A history of successful women and development projects
- An allowance where any available assets can be used as security
- Minimum age of 18 years
From
8.50% pa
interest rate
| Women & Development | |
|---|---|
| Features | |
| Security | Any assets available |
| Term | 24 months |
| Repayment Percentage Salary Deduction | Normally by cash though Salary Deduction is preferable. |
| Fees | For salary deduction, normally 50% salary allowed for repayment of loan. 60% can be considered depending on total salary |
| Disbursement | Can be charged to account. Direct to supplier where necessary or according to agreed draw down schedule. |
| Rates | |
| CRR A | 8.50% pa |
| CRR B | 9.00% pa |
| CRR C | 9.50% pa |
Eligibility Guideline – Applicants
Applicants considered under this Sector should:
- 1. Women’s groups must have an existing working relationship with the women’s section of the Extension Division of MAF.
- 2. Be sound credit worthy individuals or groups, who have a good credit history in the Bank. These includes client with CRR of A, B, C1.
- 3. If an existing borrower, the group or individual must be able to demonstrate success on the previous project before another application will be considered.
- 4. Minimum age of any applicant is 18 years. e. Size loan <= $5,000. Loan above $5,000 can be considered
