Microfinance means the provision of a broad range of financial services such as deposits, loans , payments services, money transfers and insurance to the poor and low income households and individuals and to micro and small enterprises.

Micro Enterprises’ means any enterprise which has a turnover or total assets not exceeding F$30,000 and employs more than 5 employees.
 
Small enterprise’ means any enterprise which has a turnover or total assets between F$30,000/= and F$100,000/= and employs between 6 to 20 employees.
 
Medium enterprise’ means any enterprise which has a turnover or total assets between F$100,000/= and F$500,000/= and employs between  21 to 50 employees.
 
Poor and Low-income households and individuals’ means disadvantaged women and youths , the unemployed , entrepreneurs and farmers employed in informal sector , the un-bankable, that have entrepreneurial capacity and possibility to undertake activities that can generate weekly stable incomes.
 
An ‘enterprise’ means any going concern that trades in goods and services for profit.

 

© 2013 Bank of Baroda, Fiji Territory, GPO. Box.57, Suva, Fiji Islands.