MICRO, small and medium sized enterprises (SMEs) that have used the services of Business Assistance Fiji (BAF) now have access to yet another supporting service provider, local fintech ThirdRoc Finance Limited.
The collaboration between BAF and ThirdRoc was launched in Suva yesterday.
“As part of this initiative, ThirdRoc has been officially integrated into the newly launched BLP Finance Finder Tool, making it easier than ever for local businesses to navigate and secure the financial support they need to grow,” BAF said in a statement.
BAF is the in-country partner of Business Link Pacific (BLP), a private sector development programme funded by the New Zealand Ministry of Foreign Affairs and Trade (MFAT) and delivered by DT-Global.
”BLP works with financial institutions to improve access to financial services for businesses in Fiji,” BLP director Steve Knapp said.
“We are pleased to see an increasing number of financial products supporting the private sector in the country. “Responsible and appropriate finance can be a key tool for growing businesses”
The Finance Finder platform serves as a critical digital bridge, connecting local businesses with formal financial institutions, products, and diagnostic services.
By onboarding ThirdRoc, BAF expands the ecosystem of flexible, accessible financial solutions available to entrepreneurs, particularly those striving to transition from the informal to the formal sector, according to BAF.
”We are thrilled to welcome ThirdRoc to the BLP Finance Finder platform,” BAF general manager Nitika Singh said.
“This collaboration reinforces our commitment to expanding digital and financial inclusion for all businesses in Fiji, including those outside Viti Levu and rural women entrepreneurs.”
ThirdRoc, Fiji’s first Reserve Bank Fiji (RBF)-licensed Peer-2-Peer (P2P) lender, promises to slash turnaround time for invoices to less than two days.
“Businesses that wait 60 days to get paid on invoices get most of it from us in 48 hours,” Thirdroc country head Fiji, Tawake Tui said.
“Fijian businesses wait 30, 60, sometimes 90 days for money they have already earned.
“That wait costs jobs, stock and sleep. ThirdRoc Finance Limited is being licensed by the Reserve Bank of Fiji to close that gap, so a supplier who delivers this week can be paid this week.
“For the large buyers those suppliers serve, nothing changes: same payment terms, same process, but a stronger and more reliable supply chain behind them,” Mr Tui said.
“We are proud to launch Finance Finder with Business Assistance Fiji and take this to every MSME in the country.”
