Concerns are mounting among clients of the Development Bank of Samoa (D.B.S.) over significant delays in loan disbursements, with some alleging that the process has come to a complete halt. 

Frustrated borrowers have voiced their grievances, seeking clarity on the situation and pointing to a lack of communication from the bank.

One client shared with the Samoa Observer that he inquired about the status of his vehicle loan application over a week ago, only to be informed that all loan applications have been put on hold. "I was told that loan applications are on hold until more funding is released by the Ministry of Finance (M.O.F.)," the client stated.

Another dissatisfied client echoed similar concerns, revealing that he and a friend submitted loan applications in October, ahead of the Commonwealth Heads of Government Meeting (C.H.O.G.M.). "We have been trying to get updates from our loan officers, but just last week, we were told that loans have been put on hold," the client said.

According to this client, the loan officers initially provided vague explanations for the delays. However, they later admitted that the bank was struggling with insufficient funds. 

"This week, the loan officers admitted that they don’t have funds and are still waiting for the government to release more. They said they are trying to accommodate all applications with the limited funds available, but they can only process small loan amounts for now," the client claimed.

Attempts to obtain an official comment from D.B.S. have so far been unsuccessful. 

It is understood that the bank’s Chief Executive Officer is currently part of a delegation that travelled to China last week, leaving inquiries unanswered. Emails sent to the Acting Chief Executive Officer have also gone without response.