The South Pacific Business Development Fiji (SPBD), recognized as Fiji’s only dedicated lender to women-owned microbusinesses, is on track to achieve a significant milestone. By July this year, the organization expects to surpass a cumulative loan disbursement of $125 million. This announcement was made by SPBD Fiji’s director and general manager, Elrico Munoz, during the launch of the 15th SPBD Businesswoman of the Year Awards and Foundation Day in Suva.
Since its inception, SPBD has made substantial contributions to the economic empowerment of women by disbursing over $100 million in loans and processing 74,253 loan applications, benefiting nearly 8,000 members across Fiji. Munoz noted that the organization reached the $100 million mark in over ten years but increased its disbursements by an additional $25 million in just the last two years, indicating a rapid expansion in its client base and loan amounts.
Members typically start with loans of $1,250, while some of the larger loans go up to $30,000, showcasing the growth of their businesses. Last year, SPBD set an ambitious goal of reaching $200 million in loan disbursements within the next five years, and Munoz expressed confidence that this target could potentially be achieved even sooner.
Remarkably, SPBD reported a write-off rate of less than 0.01 percent in loans due to delinquencies, thanks to a stringent approval process and support systems such as solidarity groups that assist members facing challenges.
In addition to its financial successes, SPBD celebrates expanding its influence across five South Pacific nations—Samoa, Tonga, Solomon Islands, Vanuatu, and Fiji—over its 25-year history, empowering over 115,000 women entrepreneurs.
However, despite these achievements, Munoz acknowledged the ongoing global challenges impacting micro, small, and medium-sized enterprises (MSMEs) in Fiji, particularly referencing the economic repercussions of the tariff war between the USA and China. These issues have contributed to rising costs and supply chain disruptions, but he remained optimistic about the resilience shown by Fijian women micro-entrepreneurs. Many are adapting by embracing digital tools and sustainable practices, continuing to grow their businesses and contribute to Fiji’s economic stability.
This narrative not only illustrates the transformative impact of microfinance in fostering women’s empowerment but also highlights the organization’s commitment to dealing with external challenges head-on, showcasing a model that could inspire similar initiatives across the region.
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