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Coming Soon: SPBD-Fiji
You may think of Fiji as an idyllic island getaway or romantic honeymoon destination. But did you know that nearly 300,000 Fijians live on $3 per day or less?
MicroDreams aims to help change this by funding the startup of a new partner micro-enterprise development organization, SPBD-Fiji, in Fall 2010.
You can support this effort by donating here or spreading the word!
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CLICK HERE FOR THE 2009 ANNUAL REPORT
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Dear Friends,
In May I traveled to Samoa and Tonga to visit MicroDream's partners in the Pacific, South Pacific Business Development (SPBD). Both SPBD organizations are celebrating big achievements: SPBD-Samoa recently reached ST$30 million (about US$12 million) in loan disbursements and also launched a new micro life insurance product, while SPBD-Tonga has grown to over 1,900 members in only 10 months. MicroDreams recently provided a $50k loan to help SPBD-Tonga reach out to even more low-income Tongan families. Thank you to our many supporters who made this possible. We need your help supporting our latest effort: the launch of a new micro-enterprise development organization in Fiji. The groundwork is being laid for SPBD-Fiji with plans to start working with the first groups of women in Fall 2010 - only a few months away. You can help us reach our goal of raising $250k for poor entrepreneurs in Fiji by donating to MicroDreams' Fiji campaign here. The needs in Fiji are great, but together we will empower thousands of Fijians to transform their own lives through micro-enterprise development as we have helped do in Samoa and Tonga. Thank you for your continued support. Greg Casagrande President The MicroDreams Foundation |
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 Recently MicroDreams Samoan partner, South Pacific Business Development (SPBD-Samoa) celebrated a new major milestone - the disbursement of
ST$30M (about US$12M) of unsecured credit to poor but aspiring
micro-entrepreneurs in Samoa since 2000. I had the privilege of being in Samoa at the time where we had a little event, at
which I gave a talk, ceremonial loans were given to two inspiring
members, and the Acting Prime Minister, Misa Telefoni, gave a talk. The
local media, TV and newspapers were there. It was a great event. Click on this link to see a video of the event. You can also read about it in the
Samoa Observer. |
 MicroDreams Provides $50k New Financing to SPBD-Tonga Training new members in Maufanga, Tonga  |
In June, MicroDreams extended a one year, $50,000 bridge loan to South Pacific Business Development Microfinance Ltd. (SPBD-Tonga) to fuel its rapid growth among Tongan micro-entrepreneurs. We are delighted to be able to provide this financing to SPBD-Tonga and we congratulate them on their success in economically empowering poor Tongan families.
SPBD-Tonga is off
to a fantastic start. You may recall that the organization launched in
September 2009 with seed capital from MicroDreams. Since then they have
already trained
and financed over 1900 micro-entrepreneurs! What's more, every single one of these micro-entrepreneurs continues to pay back her loan on time.
On a Friday morning in May I watched as another batch of 60 ladies received their first loans. They are all terrific. I
also sat in on a training session for about 15 new lady
micro-entrepreneurs. They were learning how to develop a mini-business
plan for their micro-business. It was great stuff.
Until now, Tongan women had very few opportunities to improve their families'
economic conditions. Salaried employment on the islands is scarce, and
only 30% of Tongan women are employed. Now, however, ladies throughout
Tongatapu are taking advantage of services offered by SPBD-Tonga to
learn how to run micro-enterprises, increase their income, build savings for their families, and achieve
their dreams of economic freedom.
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MicroDreams Enables Emprender Bolivia to Access $250k in New Financing
Rosa Marquez in her shoe store  |
MicroDreams is currently finalizing a new loan guarantee that will enable
Emprender Bolivia to access an additional $250k in commercial funds. These funds are vital to ensuring that Emprender's clients in places like
Cochabamba and Santa Cruz have access
to working capital loans to grow their microbusinesses and lift their
families out of poverty.
Rosa Marquez is just one example of a micro-entrepreneur who received financing from Emprender. Growing up in rural Bolivia she didn't have many opportunities for formal education. She moved with her husband to the outskirts of La Paz where she decided to open a small shoe store. Rosa first received a group loan from Emprender, then an individual loan, and has seen tremendous success in her business. With her increased income she saves money by purchasing materials in bulk and has now installed a permanent booth in the market. She has been able to make home improvements and provide educational opportunities for her children that she did not get. Rosa expresses her "most sincere gratitude for your confidence and help."
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SPBD-Samoa Offers Life Insurance for Members
 Now micro-entrepreneurs and their families in Samoa are taking advantage of an innovative new micro life insurance product from SBPD-Samoa. The death of a woman in the family causes a difficult financial shock for the rest of the family. This insurance product provides a death benefit ranging from ST$1000-5000 that will help families during their greatest time of need. Life insurance benefits SPBD members and their families by: - Decreasing the financial burden of the family due to funeral costs
- Protecting families' savings from being used for funeral expenses
- Protecting families from borrowing to pay for funeral expenses
- Rapid payment of claims
Premiums range from ST$10-70 per year depending on the amount of coverage sought. Insurance premiums are deducted at the time of receiving a new loan, making the insurance very affordable for low income families. |
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2009 Annual Report Now Available
 MicroDreams' 2009 Annual Report is now available. Read about what we've
been able to accomplish and where we're headed because of your
support. Click on the picture at left or on this link to download the report.
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We Need Your Help: Support SPBD-Fiji
 While Fiji may be known for its white sand beaches and coral reefs, the needs and extent of poverty throughout Fiji are immense. According to the 2009 "Fiji Financial Services Sector
Assessment," nearly 300,000 Fijians live on $3 a day or less, reflected in inadequate access to water, shelter, clothing, education,
health care and productive resources. Over half of Fiji's houses lack electricity and sanitary toilets. It is estimated that rates of
poverty have actually increased in the past several years due to low
economic growth and higher prices of basic food items, which hit the poorest
households the hardest. Only 15% of the population are salaried workers, and in some school districts 85% of students do not attend school because their parents cannot pay the school fees. We have the opportunity to help change this, but we need your help. We are only a few months away from the planned launch of SPBD-Fiji which will provide thousands of low income Fijian families with meaningful economic opportunity. Most of the initial groundwork has been laid, and the plan is to get established and
work with the first groups of women prior to year end. As always, the
MicroDreams Foundation will play a critical role in getting SPBD-Fiji up and
going. The best way you can support SPBD-Fiji is through MicroDreams' Fiji campaign. Your contribution will support our efforts to empower poor Fijian women to start small businesses and work their way permanently out of poverty. $250 will finance one micro-enterprise and change the life of one Fijian family. $5,000 will help economically transform one small village. How you can help: Donate to the campaignSpread the word on FacebookForward this email to a friend |
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