Laitalie is 49 and married with 5 children (ages 6-28). She owns & operates a business venture, selling fine mats to tourists and local community members. She has 3 years of experience in this business. Laitalie needs a loan of WST $2700 to purchase paint and feathers to decorate her mats. She plans to use the earnings from her business (estimated to be 500 talas or US $208 per week) to improve/expand the business. Laitalie has had a previous loan on Kiva. You can see her business profile and subsequent journal update at: http://www.kiva.org/app.php?page=businesses&action=about&id=68474
In 2006, Laitalie joined SPBD to gain access to financial services. Most of SPBD's clients are unable to borrow from commercial banks, because they lack collateral. This is Laitalie's 4th loan with SPBD.
In addition, SPBD measures the living conditions of each of its borrowers to track her loan progress. The overall social metric score is based upon a number of factors, such as the condition of the house/household assets, health, education, income level, and family reputation. A higher number represents a higher score. For example, a "3 out of 3" on education would mean that the borrower has graduated from university; a "2 out of 3" = secondary/high-school, and a "1 out of 3" would mean that the borrower is uneducated.
Laitalie's Overall Social Metric Score:* 1.7 out of 3
Level of Education: 2 out of 3
Level of total Household Income: 2 out of 3
Quality of Household Assets: 2 out of 3
In 2000, Greg Casagrande founded SPBD to improve the quality of life of people living in poverty in the poor island nations of the South Pacific. SPBD's philosophy of lending is based on a respect for each individual's innate human ingenuity, drive and self esteem.
South Pacific Business Development (SPBD) improves conditions for families living in poverty by providing accessible credit, training, and guidance to help them start, grow and maintain micro-businesses, build assets, finance home improvements, and afford to educate their children. 99% of SPBD’s loans go to women, who can borrow in groups to guarantee one another rather than put up collateral.