1. The Board shall periodically review the Bank’s lending pattern and based on the aims of diversification, may fix ceilings on the proportion of the total loans going into any particular sector or location or to any type of borrower.

2. Eligible recipients of loans, guarantees or other forms of assistance which may be provided by the Bank shall be citizens of the Marshall Islands or entities in which at least 50% of the assets are owned and controlled by Marshall Islands’ citizens, as defined in Article XI of the Constitution of the Republic of the Marshall Islands.

3. Any funds granted to the Bank, or to the Republic of the Marshall Islands Government and on-lent to the Bank, for the defined and restricted use of special categories of recipients shall be advanced only to those recipients and shall be accounted for separately as required by the terms of any such grant.

4. Eligible enterprises shall be located in the Republic of the Marshall Islands or based in the Republic of the Marshall Islands

Repayment Term:

1. The Bank shall decide on a scheme for loan repayment which shall be incorporated into the loan agreement. The repayment period of a loan, including a grace period, where appropriate, will be determined taking into account:

   a). The Bank’s own interest to recover principal in as a short a time as possible for the optimum use of its funds to maximize the turnover of its portfolio.

   b). The cash flow and repayment capacity of the enterprise.

   c). A reasonable payout to the borrower during the term of the loan.

2. Subject to the above factors determining the period for a loan, maximum periods will apply in relation to the type of collateral as follows:

   a). 20 years for loans on security of first mortgage of real property.

   b). 15 years for loans on security of second mortgage of real property, where the second mortgage interest is the primary security for the loan.

   c). 10 years for loans on security of personal property

1. Interest Rates
   7%
2. Max Amount
   Based on request from 
   applicant

The followings must be present with an application to be considered complete:

1. Authority to release information

2. Photo of existing project

3. Loan Agreement

4. Bill of Sale

5. Chattel Mortgage

6. Leasehold Mortgage

7. Loan Action Sheet

8. Construction Contract

9. Loan Analysis Report

10. Land lease Agreement (English, Marshallese)

11. Promissory Note

12. Security Assignment

13. Business Proposal

• Executive Summary

• Plan (Blueprint)

• Business Profile

• Management Experience

• Loan Request (Project breakdown, materials/costs,quotations)

• Loan Repayment

• Collaterals

• Personal Financial Statements

• Business Financial Statements

  • For current business provide Income & Balance Sheet

  • For new business provide projected Income & Balance Sheet

• Applicant’s Equity (20% or more)