Makerita O. is 39 and married with 11 children. She owns & operates a business venture, planting & harvesting fruits & vegetables for sale. She has 2 years of experience in this business. Makerita needs a loan of WST $750 to purchase weed-killers such as Gramoxome. She plans to use the earnings from her business (estimated to be 280 talas or US $117 per week) to improve/expand the business.
In 2009, Makerita 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 Makerita's 1st loan with SPBD.
The following social metrics for Makerita are provided by SPBD*:
Overall Social Metric Score: 1.4 out of 3
Level of Education: 1.4 out of 3
Level of total Household Income: 1.4 out of 3
Quality of Household Assets: 1.4 out of 3
*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.
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.