Asega is 54 years of age and married with 5 children. Asega owns and operates a business venture selling lavalavas (bottom-half wrap-around prints worn by both men and women). She has 2 years of experience in this business. Asega needs a loan of 2,500 WST to purchase additional fabrics and materials. She plans to use the profit from her business (estimated to be 520 WST or US $133 per week) to improve/expand the business.
In 2008, Asega joined SPBD to gain access to financial services. Most of SPBD's clients are unable to borrow from commercial banks, because they lack collateral. This is Asega's 5th loan with 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.