October 30, 2009

Cane Growers borrow $22m

www.fijitimes.com - Friday, October 30, 2009

CANE Growers borrowed $22.59million from the Sugar Cane Growers Fund last year.

Fund chairman John May said during the year the fund approved a total of 2852 loans.

Given the difficult times, Mr May said the fund did well by achieving its purpose of lending to the farmers.

He said 2248 priority loans worth $2.17m for farm development, planting new cane and purchase and repair of farm equipment, were approved.

Mr May said 286 loans under specialised lending for purchase of new farms and machinery to the value of $4m were also approved.

He said 296 loans with a value of $1.4m were given to those with new leases and 49 loans worth $494,133 were given for refinancing.

In total, 935 loans were received in Labasa.

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