Utuoge Faalolo P. is 72 years old, married, and has three children. She owns and operates a business selling pancakes, which she has been doing for two years. Utuoge Faalolo is requesting a loan of 1,000 WST, which she will use to purchase raw ingredients needed to make pancakes. She plans to use the profit from her business, estimated to be $83 per week, to improve and expand her business.
In 2011, Utuoge Faalolo 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 Utuoge Faalolo's first 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.