THE South Pacific Business Development Fiji (SPBD), Fiji’s only dedicated lender to women-owned microbusinesses, is expected to reach a cumulative loan disbursement of $125million by July this year.
SPBD Fiji director and general manager Elrico Munoz revealed this at the launch of the 15th SPBD Businesswoman of the Years and Foundation Day in Suva yesterday, which he said solidified its position as a leading force for economic empowerment and community development.
To date, Mr Munoz said SPBD Fiji had disbursed more than $100m in loans, processed 74,253 loans, and supported nearly 8000 members across the country.
In an interview with The Fiji Times, he said it took them more than 10 years to reach the $100m mark, and a little over two years for the additional $25m.
“This actually means that SPBD Fiji is growing faster than before, which means we have more clients, more members and at the same time, the members’ loans are getting bigger, which means the businesses are expanding,” Mr Munoz told this newspaper.
He said members would begin with $1250 in loan and the biggest amount disbursed was $30,000.
Last year, SPBD Fiji had set a target of reaching $200m in loan disbursement in the next five years.
“I think we can surely, with great certainty, reach that target even earlier,” Mr Munoz said.
Asked on the percentage of write-offs attributed to loan delinquencies, Mr Munoz said it did not write off any loans last year.
“Our write off of the loans are very minimal, less than 0.01 per cent, not even 1 per cent. The reason for that is we have a very rigorous process of developing the loans.”
He said there were also support mechanisms by way of solidarity groups willing to assist other members in the event some problems arose.
Meanwhile, SPBD is also celebrating another historic milestone for the entire network, having expanded its reach to five South Pacific countries over two and half decades – Samoa, Tonga, Solomon Islands, Vanuatu and Fiji, empowering more than 115,000 women entrepreneurs.
However, Mr Munoz said they could not overlook the global backdrop of challenges that affected MSMEs worldwide, including those in Fiji.
“The ongoing tariff war between USA and China has created ripple effects that result in rising operational costs, disruptions to supply chains, and fluctuating market conditions.
“These challenges test the resilience of businesses, especially micro-entrepreneurs who often operate with limited resources.
“Despite these obstacles, Fiji’s women micro-entrepreneurs continue to demonstrate remarkable adaptability, embracing digital tools, sustainable practices and innovative strategies to secure their businesses and contribute to economic stability.”
Note: This article was first published on the print version of the Fiji Times dated April 12, 2025