Business Trade and Investment Board Chief Executive Officer Terry Rangi said the The Board of the BTIB have recently approved a portion of funds to go towards small soft loans to support the vanilla industry.
They are currently asking for expressions of interest.
The Vanilla Industry Loan Scheme (VANILS) is aimed at individuals who have started their own vanilla farm and have had some experience in harvesting, curing, drying or adding value to this new crop and new industry
Recipients of the loan can buy equipment, tools, stock, freight, packaging and marketing costs.
Loans of up to $10,000 will be made available at 5 per cent interest payable over three years.
Only the best proposals will be considered and only those that meet the criteria, he said.
Deadline for interest is 4pm Friday December 12 2014.
There will not be any further news until applications are vetted and submitted to the Board, hopefully at the Board Meeting on Thursday December 18 2014.