The South Pacific Business Development is aiming to support 500 more women financially by the end of the year.

While opening SPBD’s 10th branch in the country yesterday, Director and General Manager Elrico Munoz says they are targeting an expansion of their unsecured loan portfolio by an additional $2.2 million.

Munoz says that the new branch is built on a robust foundation to ensure the provision of financial resources and support to women entrepreneurs.

“By the end of this year, in just six months, we aim to empower an additional 500 women to start or expand their businesses and also disburse an additional 2.2 million in unsecured loans to new and existing SPBD members.”

He adds that the major challenge they continue to encounter is the negative perception towards loans to operate a business.

“Actually, it’s really more of you know that there is a lack of self-confidence amongst women, especially those who do not have any business experience, so they are worried that they might not be able to help pay up the loan.”

SPBD Nausori Branch Team Leader, Salanieta Coro-i-nagasau, says the new branch will be beneficial to women that are residing in Nausori and nearby provinces.

She adds that their mission is to improve the quality of life of underprivileged families by providing them with meaningful economic opportunities.