South Pacific Business Development (SPBD) Solomon Islands, in partnership with Kiva, is thrilled to announce a significant achievement: reaching the milestone of USD $5 million (SBD $41M) crowdfunded to support micro-entrepreneurs across the Solomon Islands.
This achievement reflects the commitment of SPBD Solomon Islands and Kiva to fostering economic empowerment and creating opportunities for women and underserved communities in the South Pacific.
The milestone was achieved with a USD $500 loan (SBD $4,000) to Inasi Saeni, a 57-year-old mother of four from East Honiara. Inasi joined SPBD in 2020, where she started her tailoring business, followed by her new venture into poultry in late 2021 after receiving her second loan from SPBD.
With her latest loan, she plans to expand her poultry & tailoring production, increasing her income to improve her family’s living conditions & healthcare and assist with her children’s school fees.
“Loan blo mi givem mi ability to do more fo family blo mi,” she said. “Mi happy tumas lo SPBD and Funder blo hm Kiva fo providem slen lo mi fo expandem poultry & tailoring bisness blo mi. Tagio tumas SPBD & Kiva fo givem opportunity fo mi and fo all women lo Solomon Islands fo duim bisness”, said Inasi.
Through SPBD’s partnership with Kiva, thousands of people worldwide have contributed to life-changing loans that empower aspiring micro-entrepreneurs in the Solomon Islands. This funding has enabled SPBD Solomon Islands to provide small, affordable loans to women entrepreneurs, supporting them in growing their businesses, investing in education, and improving their families’ quality of life.
“Kiva is delighted to share in this success story. Since 2015, SPBD Solomon Islands has been a trusted lending partner and the whole team at SPBD has worked tirelessly to maximize Kiva’s funding and provide financial services to those that are often most in need,” said Mark McDonagh, Investment Manager for the Asia Pacific Region at Kiva.
“This achievement of fundraising USD $5 million on Kiva’s crowdfunding platform is the combined result of responsible credit underwriting and the willingness of people around the world to lend their money through Kiva to promote financial inclusion efforts for hardworking women living in the Solomons Islands. We look forward to continuing our funding partnership with SPBD Solomon Islands and setting even more ambitious goals for the future.”
“We are incredibly grateful for the generosity and commitment of the global Kiva community,” said Raymond McCarthy, General Manager of SPBD Solomon Islands. “Reaching $5 million crowdfunded for microloans is a testament to the impact that this funding has on uplifting families, transforming communities, and fostering sustainable economic growth for women in the Solomon Islands. With an average loan size of just over USD $700, a small amount by global standards but a potentially life changing amount here in the Solomon Islands.”
SPBD’s Impact in the Solomon Islands:
Economic Empowerment: SPBD Solomon Islands has provided micro-loans that enable local women entrepreneurs to start or expand small businesses, increasing their income and financial security. There are over 5,500 current members in the SPBD program across the Solomon Islands.
Community Upliftment: Through its loans and training programs, SPBD has helped women become financially literate, resilient, and active contributors to their communities’ economies. SPBD Solomon Islands serves over 115 communities with an SPBD team member visiting each centre.
Sustainable Growth: The partnership with Kiva has ensured that SPBD Solomon Islands can deliver on its commitment to making financial services accessible, affordable, and impactful. Since SPBD Solomon Islands founding in 2012, SPBD SI has disbursed over 33,000 loans valued over USD $22 million. The Kiva partnership has directly funded over 20% of all lending by SPBD Solomon Islands since our founding.
As SPBD Solomon Islands continues its mission to provide life-changing opportunities, the organization remains grateful to all Kiva lenders who make this transformative work possible.
To read the inspiring loan stories of women served by SPBD Solomon Islands please visit:
About Kiva:
Kiva was founded in 2005 with a mission to expand financial access to the over one billion unbanked people around the world. Through Kiva’s innovative crowdfunding model, people worldwide are able to lend as little as $25 to specific individuals in underserved communities creating opportunity and alleviating poverty. Since its founding, Kiva has grown into an international nonprofit and assisted in over 5 million loans being made, changing lives at every step along the way.
About SPBD Microfinance Network:
Founded in 2000, SPBD’s 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. SPBD is especially 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 the opportunity to build assets, improve financial security and finance housing improvements and education.
SPBD’s vision is to create a network of financially self-sufficient and scalable micro-enterprise development organisations throughout the South Pacific and today operations in Samoa, Tonga, Fiji, and Vanuatu in addition to the Solomon Islands.
ENDS//
– South Pacific Development Microfinance Limited Press Release
