NATION

SPBD Surpasses $200m Loans

Yesterday was a momentous occasion for the South Pacific Business Development (SPDB) as the microfinance network surpassed the US$100 million in micro loans disbursed to thousands of women entrepreneurs. As
09 Dec 2017 18:02
SPBD  Surpasses $200m Loans
South Pacific Business Development general manager Elrico Munoz with women entrepreneurs who are members of SPDB Photo: Monica Aguilar.

Yesterday was a momentous occasion for the South Pacific Business Development (SPDB) as the microfinance network surpassed the US$100 million in micro loans disbursed to thousands of women entrepreneurs.

As of last month, SPBD general manager Elrico Munoz said around 8000 loans were distributed, worth $7 million.

Since its launch in 2000, SPBD had impacted tens of thousands of women.

Yesterday, Vilisi Tabua, a fish dealer and a recipient of SPBD’s $200 million loan, received a $10000 loan to continue to grow her business.

This is her eighth loan.

Mrs Tabua joined SPBD in 2012 and successfully grew her fishing business.

The organisation recently opened two new branches in Labasa and Rakiraki.

Mr Munoz said the team will be visiting Kadavu and will provide additional services to their members.

“We also want to help the spouses of the ladies.”

In Samoa, they have a programme called the Overseas Worker’s Loans for seasonal workers.

He said the organisation is currently working on introducing a similar scheme since Fiji had signed an agreement to send seasonal workers to New Zealand and Australia.

This loan will be used for the workers who may need money to  travel.

SPBD operates in five countries- Samoa, Tonga, Fiji, Solomon Islands and Vanuatu.

A dedicated team of 154 work around the clock to assist the women entrepreneurs with different dreams and ambitions.



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