Microfinance Just Got Bigger

Sep 08

Their loans used to be in the hundreds of tala.

Now the South Pacific Business Development Microfinance project is looking at existing members to loan larger amounts – in the thousands of dollars.

The South Pacific Business Development (SPBD) Microfinance’s mission is geared towards offering an opportunity and on-going motivation to improve the quality of life of women living in poverty, by providing them access to financial services, according to a press release.

In August 2013, SPBD achieved yet another milestone in its journey by introducing the Small and Medium Enterprise (SME) Loan program.

In almost 13 years since its operations in Samoa, SPBD Microfinance has disbursed micro loans worth nearly SAT$60million to over 40,000 women entrepreneurs for establishing small businesses and creating the possibility of a brighter future for their families."

Read the full article here: http://www.samoaobserver.ws/other/economy/6886-micro-finance-just-got-bigger