Mareta M. is 42 and single with no children. To earn a living, she plants and harvests taro for sale. Mareta has many years of experience in this business. Mareta needs a loan of WST$1000 to invest in expanding the business. She plans to use the earnings from her business (estimated to be 600 talas or US $250 per week) to improve and expand the business.
Mareta joined SPBD this year, and this will be her first loan from SPBD. SPBD's loans are Mareta's only access to capital because she has never been able to qualify for a loan from 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 at http://www.kiva.org/community/viewTeam?team_id=8375 to receive on-the-spot updates on SPBD.
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.