The South Pacific Business Development (SPBD) Fiji officially opened its 10th branch in Nausori in June 2024. The new brannch is its latest addition since it established operations in Fiji in 2010.
The new branch will provide financial services and business development opportunities to women in the Tailevu region.
“Nausori itself has a thriving presence with a current loan portfolio of $1.5million, serving 962 women micro-entrepreneurs organised in 56 village-based groups meeting every week,” said SPBD Fiji director and general manager Elrico Munoz.
“This new branch builds on that foundation, ensuring even greater access to financial resources and support for women entrepreneurs. By the end of this year, in just six months, we aim to empower an additional 500 women to start or expand their businesses and also disburse an additional $2.2m in unsecured loans to new and existing SPBD members.”
Founded by American businessman and social entrepreneur Greg Casagrande, who first established the Pacific operation in Samoa in 2000, the SPBD network has organically grown across the Pacific, transforming lives across the region and helping over 115,000 women to embrace opportunities for sustainable income generation.
“Our key services to empower women include organising them into village-based groups, providing continuous financial education and offering easy access to unsecured loans, savings facilities, death benefits and business development services,” Mr Munoz said.
“Since our establishment in Fiji in December 2010, SPBD has reached over 20,000 women and provided them with more than $100m in unsecured loans over the past 13 years.
“Currently, we serve more than 7000 women in 438 villages through our branches in Suva, Sigatoka, Lautoka, Rakiraki, Levuka, Nabouwalu, Savusavu and Taveuni.
SPBD independent director Lorraine Seeto said having a branch in Nausori will save members in the area time and money as they will not have to travel to Suva.
“This is an excellent achievement and I congratulate Mr Munoz and his team for this milestone achievement. SPBD’s Nausori branch brings us closer to our valued members who are all women micro entrepreneurs in the Tailevu province,” Ms Seeto said.
The opening of Nausori’s SPBD branch was officiated by Mr Casagrande, who is also the chief executive officer of the SPBD Microfinance Network.
In the Pacific, the SPBD network is present in Fiji, Samoa, Tonga, Solomon Islands and Vanuatu.
Reprinted from https://www.fijitimes.com.fj/microfinance-firm-opens-10th-branch/
Reprinted from https://www.fijivillage.com/news/SPBD-opens-10th-branch-in-Nausori-x5fr48/