Luisa K. is 19 and single with one child. She owns a business, selling fabric handicrafts to tourists and local community members. Luisa has three years of experience in this business. Luisa needs a loan of WST $1500 to purchase raw materials to make additional handicrafts. She plans to use the earnings from her business (estimated to be 500 talas or US $208 per week) to improve and expand the business.
In 2009, Luisa joined SPBD, and this is her secnd loan with SPBD. SPBD's loans are Luisa 's only access to capital because she was never able to qualify for a loan with traditional banks.
In 2000, Greg Casagrande founded SPBD and since then, it has expanded from the main island of Upolu in Samoa to Savaii, as well as Tonga. SPBD's philosophy of lending is based upon the Grameen Bank lending method. Please join SPBD's lending team on KIVA to receive on-the-spot updates on SPBD. http://www.kiva.org/community/viewTeam?team_id=8375
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.