Personal Term Loan is a customised loan product specifically designed for small entrepreneurs.

The loan is available to small entrepreneurs who have operated an existing business for at least 12 months. This will assist them to access additional funding in running the business. The purpose is strictly for additional working capital or Acquisition of Business assets, i.e., purchase of raw materials, buying new equipment etc.

Benefits of Personal Term Loan Account holders

  • Lower interest rate.

  • No administration fee.

  • Faster processing time.

  • Convenient loan payment through bank account.

  • Short repayment terms

Small entrepreneur who has a viable enterprise.

Not currently employed.

Business is operating profitably for at least 12 months.

Type of Business is acceptable to PFL.

Located within the area of branch location.

Have lived in that location over two years

Provide an alternate contact person (preferably a family member)

Have a bank account or be willing to open one


Small enterprises, which are not viable or not have been in business for twelve (12) months.

Small enterprises which have no potential for expansion.

Employed business person.

Blacklisted customers.

Persons not employed with a GDP-approved private company or government department.

Customers who are blacklisted

Casual/probationary employees.

Employees who are not qualified to get a loan of at least K3,000.00.

Customers who skip or reduce repayments.

  • Loan Amount

    Minimum     K1,000.00

    Maximum    K250,000.00

  • Term

    Minimum     Two (2) Months

    Maximum    Forty-Eight (48) Months

  • Fees

    Late payment fees 1% of instalment amount after three (3) months of late, missed and reduced repayments.

  • Top Up Loans/Second Loan Cycle

    No top up loans to be given until existing loan is fully repaid.

  • Disbursement Method

    Direct credit to the account of the borrower.

  • Repayment Amount

    None as interest rate is variable.

  • Repayment Method

     Repayment start date must be exactly a month after the disbursement of the loan.

    Monthly repayments shall be done through direct deposit to the following account:

    Bank of South Pacific – Douglas Street Branch

    Account Number: 1008662833

    Account Name: Papua Finance Limited

    The above account shall also be used if the small entrepreneur is willing to settle the loan early.

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