Microfinance institution – the South Pacific Business Development (SPBD) marked a remarkable milestone last week having surpassed the loan disbursement mark of $150 million since its inception in 2010, supporting women entrepreneurs across Fiji.
Last year, it had disbursed a total of $125 million.
In the first six months of this year alone – from January 5 to June 18, the institution disbursed a total of $8.1m in loans to 2994 women entrepreneurs .
During the celebration of surpassing the $150m mark last Friday, SPBD managing director Lorraine Seeto said that over the past 15 years, the institution had grown to become the largest microfinance institution in Fiji, serving thousands of women and their families across the country.
She said that since its inception in November 2010, the institution had helped thousands of women who had dreamt, who had worked tirelessly to build businesses, support their families, educate their children, improve their homes, and create brighter futures for their communities.
“What started with a small number of women meeting weekly in their communities has become a nationwide movement of women entrepreneurs building businesses, generating income, creating jobs, and strengthening Fiji’s economy,” Ms Seeto said.
“SPBD has always believed that when you empower a woman, you empower a family. When you empower a family, you strengthen a community. And when communities prosper, the nation prospers,” she said.
Ms Seeto said the impact of SPBD had extended far beyond loans.
She said SPBD had witnessed women who had transformed their small market stalls into thriving enterprises, has seen women expand agricultural ventures, retail businesses, canteens, tailoring operations, handicraft enterprises, and service businesses, mothers invest in their children’s education, improved their homes, and provide opportunities that previous generations could only dream about.
“Through weekly centre meetings, financial literacy, business training, savings programs, leadership development, and mutual support among members, women gained confidence, knowledge, and a sense of empowerment. They become leaders within their families, villages, and communities.
“Every dollar disbursed represented hope. Every successful business represented resilience. Every woman empowered represented a stronger Fiji.”
Ms Seeto added that while all SPBD branches had contributed to the achievement of the $150m loan milestone, added the Nausori branch had rapidly become one of Fiji’s most vibrant centres of activity.
She said that since the opening of the Nausori branch, it had served hundreds of women entrepreneurs throughout the Tailevu province and surrounding regions, providing them with access to financial services and business opportunities that were previously beyond their reach.
She said at the time of its establishment, the Nausori operation was already supporting nearly 1000 women entrepreneurs through dozens of village-based groups.
“The success of the Nausori branch demonstrates what is possible when opportunity meets determination.
“The women of this region have embraced entrepreneurship, strengthened their businesses, and contributed significantly to the growth of SPBD Fiji.”
However, she added, there were women who still needed access to financial services, families seeking opportunities to improve their lives and communities waiting to unlock their full economic potential.
“The $150 million milestone is not the destination — it is another step in our journey.
“We will continue to innovate, expand our reach, strengthen our services, and support women entrepreneurs throughout Fiji.
“We will continue to build financial inclusion, promote entrepreneurship, and create pathways out of poverty.”
She said SPBD would also continue to believe in the power of women to transform lives.
Meanwhile, the milestone also marked the disbursement of $10,900 loan to entrepreneur Sulita Vanabale, the founder and owner of Vanabale Investment and Bakery – and a member of the Nausori SPBD branch.
In an interview with this newspaper, Ms Vanabale said that over the years, the SPBD had helped her to grow her business – from a small canteen to a standard shop and a bakery, build her concrete house, and buy her electric appliances and tools for her business.
“I was able to build my concrete house, buy my first car to deliver my products, my mixer, oven, moulding machines, washing machine and other electric appliances for my business,” Ms Vanabale said.
In 2023, she took out a loan of $1500, and $2500 in 2024, a higher amount of $9300 last year, and this year – $10,900.
She said that she would use the money to buy a new bread oven and another vehicle to transport her products.
SPBDs current valued membership stands at nearly 8000.
SPBD was founded by social entrepreneur Greg Casagrande in Samoa in 2000 with a simple but powerful belief – that women living in underserved communities, when given access to financial services and support, can transform not only their own lives but also the lives of their families and communities.
The SPBD has since grown across the Pacific, serving women in Samoa, Tonga, Fiji, Solomon Islands, and Vanuatu, empowering more than 115,000 women entrepreneurs and has disbursed hundreds of millions of dollars in microfinance loans throughout the region.
SPBD’s mission is to improve the quality of life of underprivileged families by providing meaningful economic opportunities that help lift them permanently out of poverty.
“We are particularly focused on empowering women to start, grow, and maintain microbusinesses while building assets, improving financial security, enhancing housing, and supporting,” Ms Seeto said.
She said to create a network of financially sustainable and scalable microenterprise development organisations throughout the South Pacific, their respect for every individual, integrity in their work, commitment to excellence and accountability, service to members and communities and belief in the dignity, capability, and potential of every woman has been their vision.
She said these values had guided the SPBD through its challenges, including economic downturns, natural disasters, and the global COVID-19 pandemic.
Sulita Vanabale of Vanabale Investment (far right) receiving her loan cheque from South Pacific Business Development managing director Lorraine Seeto (far left) and team. Picture: KARISHMA KUMARI
