The South Pacific Business Development (SPBD) has disbursed a total of $8.1 million in loans to 2994 women in six months – from January 5 to June 18 this year.
SPBD managing director Lorraine Seeto said the highest of loan disbursed this year was $30,000, and the lowest amount given out was $1250.
Ms Seeto revealed these figures in an interview yesterday during the celebration of the microfinancing institution surpassing the $150m mark in loans disbursed from since its inception in 2010. She said since its establishment, SPBD had become Fiji’s leading microfinance institution, providing access to credit, savings products, financial literacy training, death benefits, and business development support to thousands of women entrepreneurs nationwide.
“The $150m milestone is not the destination – it is another step in our journey, and we will continue to innovate, expand our reach, strengthen our services and support women entrepreneurs throughout Fiji,” Ms Seeto said. SPBD operates in Samoa, Tonga, Fiji, Solomon Islands and Vanuatu, and is focused on empowering women to start, grow and maintain micro businesses through the provision of access to financial and business development services, as well as opportunities to build assets, improve financial security, finance housing improvements and education. “Its mission is to improve the quality of life of underprivileged families by providing them with meaningful economic opportunities to help lift them permanently, out of poverty.”
At present, SPBD has around 8000 members.
L-R: Fonorito Catering owner Adi Litia Fonorito, SPBD Finance and Admin manager Vani Bogirua, Luisa Mocea of Yacas Kitchen, SPBD managing director Lorraine Seeto, Vanabale Investment director Sulita Vanabale, and SPBD area manager Kunal Chand with the other SPBD members. Picture: KARISHMA KUMARI
