SPBD MICROFINANCE CELEBRATES ITS T$50 MILLION TALA LOAN DISBURSEMENT MILESTONE

SPBD MICROFINANCE PRESS RELEASE

SPBD (SPBD MICROFINANCE (SAMOA) LTD. ) CELEBRATES ITS T$50 MILLION TALA LOAN DISBURSEMENT MILESTONE

By: Maros Parreno Apostol

SPBD MICROFINANCE (SAMOA) LTD. mission highlights the importance of providing an opportunity and ongoing motivation to improve the quality of life of individuals living in poverty. By providing access to financial services, SPBD is achieving this mission as it is providing families with the ability to develop, build confidence and make a significant improvement in their living standards.

SPBD is a microfinance institution empowering women micro-entrepreneurs. SPBD does this by providing local women with various financial services – unsecured credit and insurance products, savings, training and motivation which ordinarily would not be available to them through commercial lending organizations. Women then invest these benefits in a business based on their existing skills, gaining access to a steady income and financial freedom.

This month SPBD celebrates an important milestone as a total $50 million Samoan tala has now been disbursed to clients since its inception in January 2000. This $50 million tala has supported more than 40,000 economic activities from businesses around the women existing livelihood skills , for home improvements, and supporting childhood education.

To mark this important occasion SPBD has invited the Central Bank Governor Ms Atalina Ainuu Enari to assist in the ceremonial disbursement of five inspired clients with their loan on Thursday, 30 August 2012 11:00 p.m. at Hotel Elisa, Sogi.

Five clients representing our $50 million tala milestone includes:

Vailaasia Moe from MatautuLefaga Ta drawing on her 5^th loan. Her total disbursement of $2,500 will be used to buy materials and crops for her vegetable plantation. Vailaasia thanks SPBD for their assistance, saying her standard of living has improved enormously since starting with the program over four years ago.
Laloanea Ofoia from Papaigalgala who will receive a $3,950 disbursement to enable her to purchase more goods for the store she runs in her village. Laloanea has been a member of SPBD since 2007 and is receiving her 6^th loan.
Ane Sipaia from LepaleFasitoo, a very hardworking client who will usually repay each loan long before it is due, receiving $3,000. This is Ane’s 8^th loan since joining SPBD in 2010.
SavaliTugia from Leusoalii who will obtain a $2,500 loan at disbursement, her 5^th loan since 2009. Savali is grateful for the work of SPBD as she now has the ability to save for her children’s education.
Saloto Lilomaiava from Levi Saleimoa who is receiving her 8^th loan from SPBD this week. The WST$3,500 will be used to buy new equipment to assist Saloto with expanding her taro and banana plantation.

In May 2010 when we celebrated the $30 million milestone, SPBD committed to provide financial services to more women, more households and more villages here in Samoa. And after 26 months SPBD was able to reach our $50 million milestone.

The $50 million tala milestone reaffirms SPBD’s commitment to Samoa and our show of unity for this year’s 50^thIndependence Day Celebration of Samoa.