SOUTH PACIFIC BUSINESS DEVELOPMENT
In addition to the microcredit loans, small and medium enterprise (SME), and overseas worker loans (OWL), South Pacific Business Development (SPBD) has launched the following new loan products:
Currently in the South Pacific, household energy spending is high, and there is demand for alternative and cheaper sources of energy. SPBD Fiji has partnered with Courts Limited to make high-quality white goods and renewable energy equipment more affordable to clients, whether for business or household use. By offering financing for these products, SPBD expects to see an improvement in clients’ workplace productivity and overall living conditions.
In May 2015, SPBD Solomon Islands introduced a Solar Energy Loan program to provide more accessible and cost-efficient energy to their clients. SPBD partnered with Honiara Hardware Supplies Ltd. to facilitate clients’ access to high-quality, affordable d.light brand solar appliances (solar-powered lanterns, off-grid solar generators, etc.) through discounted product rates and a comprehensive loan disbursement plan.
SPBD Samoa launched the Higher Education Loan program to enable clients to cover their families’ secondary and tertiary education costs. SPBD provides a direct loan to the educational institution chosen by its client, ensuring that the funds are properly allocated towards tuition fees, books and other educational expenses.