Faafeai T. is 70, married, and has six children. She owns a business venture in which she plants and harvests taro for sale. Faafeai has four years of experience in this business. Faafeai needs a loan of 2,500 WST to purchase weed killers such as Gramoxome. She plans to use the earnings from her business (estimated to be 400 talas or $167 USD per week) to improve her business.
Faafeai joined SPBD. This is her 4th loan with SPBD. SPBD's loans are Faafeai'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.