General loans for all business purposes
Affordable, sustainable finance for Papua New Guinean entrepreneurs in rural and urban areas, tailored to your business needs.
7.5% interest rateInterest rate7.5%
Loan amountFrom K5,000
Your equity20%
RepaymentsMonthly
Small business loans
Thinking of starting or expanding your business?
NDB offers a range of products and services that can be tailored to you and your business. We aim to offer competitive rates, with an emphasis on affordable and sustainable finance for ordinary Papua New Guineans and rural and urban entrepreneurs.
| Loan amount | K5,000 and above |
|---|---|
| Interest rate | 7.5% |
| Equity | 20%, must be evidenced |
| Security | Flexible security acceptable to the Bank |
| Loan term | Flexible, depending on the assets financed. Generally 2 to 5 years for agriculture and commercial loans; longer terms considered case by case |
| Repayments | Monthly |
Terms and conditions apply.
Requirements
What every application needs.
- A completed application with your name, address, business history and banking details
- An equity contribution of 20% or more, and security, for all agriculture, commercial and industry loans
- Assets pledged as security that are acceptable to the Bank, valued by a reputable valuer or dealer, with proof of ownership and searches where appropriate (for example company, title or vehicle searches)
- Adequate security and insurance giving the loan 100% collateral cover. Collateral is valued and insured at the applicant’s expense
- A business account opened and operated with National Banking Corporation (NBC)
For prompt consideration
Bring these with your application.
- At least three years of financial statements (balance sheets, profit and loss statements, budgets and cash flow forecasts with assumptions) and, where required, bank statements
- Companies: tax returns for the last three years and a current company search
- Directors, shareholders and individual applicants: a signed statement of financial position
- Up-to-date quotes and invoices for the purpose of the loan
- Proof of ownership of major assets, such as a State Lease, vehicle registration or investment shares
- Receipts showing land rentals are up to date, and dealer valuations for any vehicles or machinery offered as security
How to apply
Getting started is easy.
- Check you’re readyRead the requirements and gather your documents.
- Visit NDBCall into your nearest NDB branch or our Head Office at Waigani.
- Talk to a loan officerOur team will help you complete your application and assess your proposal.
Loans & services
Explore other loans.
Ready to talk?
Visit your nearest NDB branch.
Our loan officers will help you find the right loan and guide you through your application.