SUNBIZ

95 Women Assisted Through SPBD COVID-19 Online Relief Loans

A total of 95 women have been assisted through the COVID-19 online relief loan by the South Pacific Business Development (SPBD) Microfinance network. The loans amounted to total $108,150. This
29 Jul 2021 11:00
95 Women Assisted Through SPBD COVID-19 Online Relief Loans
Successful South Pacific Business Development (SPBD) COVID-19 online relief loan recipient Anareta Rokotuivanua.

A total of 95 women have been assisted through the COVID-19 online relief loan by the South Pacific Business Development (SPBD) Microfinance network.

The loans amounted to total $108,150.

This was revealed to SunBiz by SPBD Fiji general manager, El- rico Munoz.

He said: “On July 8 2021, we have approved a total of 95 loans amounting to FJ$108,150 of which, 79 loans amounting to $89,600 have been disbursed. “The rest was disbursed on July 9.”

Mr Munoz said the loan was exclusively for SPBD women members and accessed online:
https://www.surveymonkey.com/r/SPBDCOVID19LOAN-LIVE>

https://www.surveymonkey. com/r/SPBDCOVID19LOAN- LIVE.

 

Online Products:
Mr Munoz added that the on- line loan product makes it easy for SPBD clients to lodge their loan applications from their mobiles.

“They don’t have to travel away from their home and submit documents.”

“The loan is processed within five days and disbursed to their M-PAiSA accounts.”

He added the loan use is very flexible.

“They can use this for reviving their business, pay their bills, stock up on food, cover medical expenses, baby’s milk and needs, and more.”

The loan would be payable in 50 weeks and repayment would start four months after loan disbursement, he said.

Mr Munoz said the COVID-19 online relief loan was launched on June 18, 2021.

“Since we started the SPBD Fiji operations in 2010, we have already disbursed a cumulative total of $60 million loans to more than 9,000 women dispersed in more than 400 villages in Fiji.

“With the current upsurge of COVD-19 cases in Fiji, we have not disbursed loans since April because we are not allowed to visit the villages where we are serving these women,” he said.

 

About SPBD
The South Pacific Business Development Microfinance net- work was started in Samoa in January 2000,” Mr Munoz said. “Since then the network has ex- panded to five other countries:
Samoa, Tonga, Fiji, Solomon Is- lands, and Vanuatu.”

He said SPBD had branches in Suva, Sigatoka, Lautoka, Rakiraki, Labasa and Savusavu, serving the islands of Viti Levu, Vanua Levu, Taveuni, Ovalau and Rabi.

“SPBD’s mission is the economic empowerment of women through enterprise development, financial education and the provision of financial services (savings, loans and death benefit coverage).

“SPBD Fiji offers different types of loans for business, home improvement, white goods and educational loans amongst others,” he said.

 

Feedback: shreya.kumar@fijisun.com.fj



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