Falanika is 45 years of age and married with four children. She owns and operates a business providing general alterations of dresses and shirts to the local community and sewing different kinds of patterns for children, men and women. She has 3 years of experience in this business. Falanika needs a loan of WST $1,000 to purchase additional fabrics and materials. She plans to use the profit from her business (estimated to be 250 WST or US $104 per week) to improve/expand the business.
In 2010, Falanika 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 Falanika's 2nd 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.