Opening of a 2nd branch:
In the 1st quarter 2016, with funding from Whole Planet Foundation and PFIP, SPBD SI plans to open a second branch in Munda in the Western Province. Over the next three years, SPBD SI plans to reach another 5,255 women micro-entrepreneurs and make $15.4 million SBD ($1.9M USD) in loans.
Open satellite offices:
To effectively serve clients beyond its current coverage area from Honiara, SPBD plans to set up two satellite offices 40 kiilometers east and west of the present coverage areas. These satellite offices can be grown into full-fledged branches at a later stage.
SPBD SI offers unsecured credit, micro savings, micro-insurance (life) and financial education training to women micro-entrepreneurs to expand their existing business or to start a new business. In May 2015, SPBD Solomon Islands identified an opportunity to make an additional positive impact by offering access to solar lighting products at a discount and also offering financing for such products to those clients who require financing.
As of December 2015, SPBD SI has made 8,194 loans for a total of just over $31 million SBD ($3.8 million USD) and has 4,644 savings accounts for a total of $3.4 million SBD ($420K USD).