Sugar Cane Growers Fund (SCGF) in the first four months of this year processed and approved 732 applications valued $3.172m, compared to the same period last year when it was 851 applications valued $2.672m, said Raj Sharma Chief Executive Officer.
Mr Sharma said the bigger or increased amounts have been due to Investment Loans such as farm and implement purchases, which certainly is the confidence of our growers. The numbers compared to last year are less, as smaller loans are not taken yet since healthy payment was made recently. Most of the loans were from Labasa $1.109m (30%) followed by Ba (23%).
Today as part of Giveaway to our growers, there is draw of 5 x $100 Back to School Promotion. This started on 20th December 2022 and ended on 28th April 2023. The draw is very timely as the school holidays start.
In addition, we are honoured that our Acting Director Operation for Ministry of Sugar & Multi Ethnic launches the Pre Harvesting Loan Promotion which starts today 5th May 2023 and will ends 30th November 2023. It again has a cash price of 5 x $100 and will be drawn of 8th December 2023. The growers are getting ready for the harvest as the crushing will start soon.
Mr Sharma said that they always encourage growers to plan the borrowing and budget and just be mindful of not getting over committed.
SCGF is actively reaching out to the growers for the services that they need and those who have access to Digital Services may get those services online.
Chief Executive Officer