FSM Development Bank (FSMDB) uh oulap me keilac ilong Federated States ko an Micronesia (FSM). E chartered ilong 1979, ac e orek luti ni pali ko an government eo in ahkkahlah economic growth ac ahkkahlah oulap ko me kuh in orek luti ni financial resources ko. Bank uh an FSM National Government eo, ac oar shareholder ko an State ko me oar Chuuk ac Kosrae. FSMDB uh se bank eo me orek luti ni profit, pali an uh in ahkkahlah sustainable economic development ilong FSM. E orek luti ni oark ko an loan me paht ni business ko me pwalpa, agriculture, fisheries, tourism, housing, ac home energy efficiency, ahkkahlah oulap ko an FSM ac business ko me orek luti ni FSM.
Kaulahlah an FSM Development Bank (FSMDB)
Kaulahlah an Bank ac Background
FSM Development Bank eo uh established ni Public Law 1-37 (1979) ac reorganized ni PL 8-47 (1994). Orekma an uh ahkkahlah ilong October 1, 1980, ac orekma ko an loan uh ahkkahlah ilong 1982. Shareholder ko uh FSM National Government (98.8%), Chuuk State Government (0.92%), ac Kosrae State Government (0.28%). Pali an FSMDB uh in ahkkahlah economic development ni oark ko an loan me paht ni oulap ko an FSM ac foreign entities ko me oar more than 25% FSM ownership. Presiden ac CEO an FSMDB uh Anna Mendiola. Bank uh oar Board of Directors ko me appointed ni shareholder government ko, ahkkahlah oulap eo me paht ac leadership ko.
Product ko an Loan ac Insihk ko an Financial
FSMDB uh oar principal loan categories ko me lima (5) me ahkkahlah oulap ko an FSM. Loan ko uh an USD (local currency), ac oar minimum ac maximum ko me kahto ni product ko me kahto. Rate ko an interest ac term ko uh kahto ni product ko me kahto, ahkkahlah oulap ko me kuh in orek luti ni oark ko me paht.
Business Term Loan ko
Loan ko uh orek luti ni business ko me pwalpa, ahkkahlah long-term investment ko ni equipment, facility, ac expansion. Ilong 2023, oar loan ko me 27 me orek (USD 3.12 Million approved). Rate an interest uh 4.75% APR. Term ko uh more than one year, ac kuh in weekly, monthly, or quarterly repayment schedule ko. Oar standard origination ac processing fee ko. Collateral uh orek luti ni business assets ko me oar machinery ac receivables.
Business Lines of Credit ko
E orek luti ni business ko me oar oark ko me pwalpa ni working capital ac short-term needs ko. Ilong 2023, oar loan ko me 27 me orek (USD 5.61 Million approved). Rate an interest uh 4.75% APR. E revolving, ac oar annual review ko. Oar annual commitment fee ko, ac collateral uh per draw.
Consumer Loan ko
Loan ko uh orek luti ni oulap ko ni personal needs ko me oar medical expenses, education, ac vehicle purchase ko. Ilong 2023, oar loan ko me 899 me orek (USD 5.76 Million approved). Rate an interest uh 14.33% APR. Term ko uh up to five years (typical), ac monthly repayment schedule ko. Oar origination fee ko. Collateral uh orek luti ni vehicle or personal guarantee.
Residential Home Loan ko
Loan ko uh orek luti ni home ko, ahkkahlah home purchase ko, construction, ac renovation. Ilong 2023, oar loan ko me 12 me orek (USD 0.799 Million approved). Rate an interest uh 6%–8% APR. Term ko uh 10–20 years, ac amortized monthly. Collateral uh orek luti ni home eo.
Home Energy Loan ko (HELP)
Program eo uh launched in ahkkahlah home energy efficiency ko, ahkkahlah solar panel ko ac energy-saving appliance ko. Rate an interest uh 0% ni first two years, then 3% APR. Term ko uh up to seven years. Collateral uh orek luti ni home improvements ko.
Oar fee ko an late-payment ac processing fee ko me orek luti ni standard local rates ko. Ni information ko me se unverified, FSMDB uh recommend ni oulap ko me kuh in orek loan in orek inquiry ko direct ni bank eo.
Orekma an Application, Technology, ac Regulatory State
Orekma an Application ac Requirement ko
Oulap ko me kuh in orek loan kuh in download application forms ko seni website an FSMDB eo, www.fsmdb.fm. E important in etu FSMDB uh se oar mobile app. Orekma ko an application uh orek luti ni ofis ko an branch. FSMDB uh oar four branch office ko ilong Pohnpei (HQ), Yap, Chuuk, ac Kosrae.
Requirement ko an application uh oar standard ID verification, proof of citizenship, ac financial statement ko or bank statement ko. FSMDB uh orek luti ni combination an cash-flow analysis ac collateral valuation. E focus ni project viability ac socio-economic impact. Disbursement ko an loan uh orek luti ni bank transfer ni local accounts ko or cash disbursements ni branch ko. Mobile money uh se supported ni FSMDB.
Regulatory State ac Oversight
FSMDB uh authorized under Title 30 FSM Code, ac e licensed ni FSM Banking Board eo me non-deposit-taking institution. Bank uh subject ni supervisory remit an FSM Banking Board eo ac national audit an Office of the National Public Auditor eo. FSMDB uh adhere ni FSM consumer credit regulation ko ac oar hardship provision ko during COVID relief program ko, ahkkahlah consumer protection ko.
Market Position ac Komparison ni Kompitetor ko
FSMDB uh sole development bank ilong FSM, ac e plays a unique role ilong FSM financial sector. E complements two commercial bank ko me oar Bank of FSM ac Bank of Guam. Kompitetor ko an microfinance NGO ko uh minor. Differentiation an FSMDB uh oar concessional pricing ko, longer maturities, ac developmental mandate. FSMDB uh se orek luti ni profit, pali an uh in ahkkahlah economic development, ac commercial bank ko uh orek luti ni profit ac standard market rates ko. FSMDB uh accredited ni Green Climate Fund (2023) in channel climate finance, ac e exploring renewable energy ac housing upgrades. E oar partnership ko ni Asian Development Bank, European Investment Bank, Green Climate Fund, ac local telco ko ni outreach.
Ilong 2023, FSMDB uh oar 7,877 loan accounts, ac outstanding loan balance uh USD 84.0 Million. Predominantly households (6,835 accounts) ac SMEs (1,042 accounts). FSMDB uh ahkkahlah gender inclusion ni women-owned M&S loan ko me comprised 56% an M&S portfolio ilong 2023 (30/54 loans).
Kaulahlah ko me Paht ni Oulap ko me Kuh in Orek Loan
Ni oulap ko me orek luti ni loan seni FSMDB, oar kaulahlah ko me paht me kuh in ahkkahlah orekma ko an loan:
Ahkkahlah Requirement ko an Loan: Orek luti ni application forms ko ac ahkkahlah kom oar ID ko me paht, proof of citizenship, ac financial statement ko me ahkkahlah financial health an kom. Oulap ko me kuh in ahkkahlah project viability ko uh more likely in orek loan.
Etu Rate ko ac Fee ko: Etu rate ko an interest, origination fee ko, processing fee ko, ac late-payment fee ko ni loan product ko me kahto. FSMDB uh oar rate ko me paht ni product ko me kahto, special ni business ko ac home energy loan ko.
Etu Term ko an Repayment: Etu term ko an repayment, ac ahkkahlah kom kuh in repay loan eo ni schedule eo. Longer maturities uh oar ni FSMDB loan ko, ahkkahlah oulap ko me kuh in orek luti ni project ko me long-term.
Ahkkahlah Website ac Visit Branch ko: FSMDB uh se oar mobile app, so it's important in website an FSMDB eo, www.fsmdb.fm, ni application forms ko ac kaulahlah ko. More importantly, visit branch office ko ilong Pohnpei, Yap, Chuuk, or Kosrae in orek kaulahlah ko ac etu more information seni dedicated loan officer ko.
Orek Luti ni Purpose ko an Loan: FSMDB uh orek luti ni project viability ac socio-economic impact. Ahkkahlah purpose an loan eo an kom uh ahkkahlah economic development ilong FSM. E important in ahkkahlah impact an loan eo an kom ni community eo.
Ahkkahlah Collateral: Orek luti ni collateral ko an kom ni loan product ko me kahto. FSMDB uh orek luti ni secured loan ko. Collateral ko uh orek luti ni business assets, vehicles, or home eo.
Orek Luti ni Delay ko: FSMDB application process uh kuh in lengthy. Ahkkahlah kom oar time in wait ni loan approval, ac follow up ni branch ko ni status an application eo an kom.
FSMDB uh oulap me keilac ilong FSM ni oulap ko me orek luti ni sustainable economic development. Ni rate ko me paht ac term ko me keilac, FSMDB uh oulap me paht ni oulap ko an FSM in ahkkahlah future ko an FSM.
