Filomena U. is 37 and married with five children. She owns a business venture of catching and selling ocean-caught fish. Filomena has two years of experience in this business. Filomena needs a loan of $1,000 Samoan tala to purchase fishing equipment, including hooks and nets. She plans to use the earnings from her business (estimated to be 400 talas or about $167 per week) to improve/expand the business.
In 2010, Filomena joined SPBD. This is her first loan with SPBD. SPBD's loans are Filomena'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.