Fao F. is 55 and married with three children (ages 18 - 25). She owns a business, planting and harvesting taro for sale. Fao has many years of experience in this business. Fao needs a loan of WST $1000 to purchase additional seeds, seedlings and young crops to raise. She plans to use the earnings from her business (estimated to be 450 talas or US $188 per week) to improve/expand the business.
In 2003, Fao joined SPBD. This is her fourth loan with SPBD. SPBD's loans are Fao'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.