To help drive sustainable economic growth, and assist in the creation of new jobs and opportunities, we provide various forms of support and assistance to the Falkland’s business community. In the 2014/2015 financial year we have provided £900,000 in Business Loans to over 10 individuals and businesses. In that same time we have also issued just under £55,000 in Business, Development and Infrastructure Grants to over 10 recipients. We will continue this support for local businesses at all stages of growth, from start-ups to larger and more-established companies.
For the financial year 2015/2016 we have allocated £500,000 of our budget for business development loans. FIDC will also administer FIG's Local Investment Strategy.
For more information on the grants currently offered, please see the Grants section of the website.
It doesn’t matter what stage your business is at we are here to help you. Whether you are developing a new service or product, expanding your markets or increasing capacity FIDC’s Development Officers can help.
FIDC Loans Policy 2015
The Corporation is empowered to give financial assistance to individuals, commercial enterprises or other organisations that, in line with its objectives, will contribute either directly or indirectly to the economic development of the Falkland Islands.
In its business plan FIDC has identified the objective “To provide business support and mentoring across traditional, emerging and new industries of the economy by providing assistance and incentives, such as grants, loans, business advice and projects.”
A fundamental principle is that FIDC is committed to responsible lending and will only lend amounts which will not burden borrowers with an unacceptable level of debt or repayments.
FIDC also needs to ensure that the risk to which its funds are exposed is minimised and that it does not financially support any ventures when it is not appropriate to do so. All business cases in respect of applications for loans need to demonstrate commercial viability into the medium-term, whilst contributing to the objectives of FIDC on a sustained basis.
As part of the process consideration will be given to the extent to which any proposal will have an adverse effect on an existing enterprise.
Wherever possible FIDC will seek to work with Standard Chartered Bank and FIG to ensure the best use is made of public funds.
FIDC reserves the right to review all interest rates, threshold limits and charges in response to global economic factors.
To read FIDC's Loans Policy you can download it by clicking on the following link;
Business Loan Application & Guidance
You can download the Business Loan Application form below;
For a better understanding of the FIDC business loan process please download the following guide;