Sosefina is 50 years old and a married mother of 6 children.
Sosefina owns and operates a business venture baking and selling bread in the local community. She has two years of experience in this business. Sosefina needs a loan of WST $1500 to purchase baking equipment. She plans to use the profit from her business (estimated to be 300 talas or US $125 per week) to improve and expand the business.
In 2010, Sosefina 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 Sosefina's second loan with SPBD.
In 2000, Greg Casagrande founded SPBD to improve the quality of life of people living in poverty in the poor island nations of the South Pacific. SPBD's philosophy of lending is based on a respect for each individual's innate human ingenuity, drive, and self esteem. Please join SPBD's lending team on KIVA 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.