Letuaina is a 56-year-old woman living in the town of Iva. She is married and has seven adult children. To make a living, Letuaina owns and operates a fishing business. While not the only means of generating revenue, the main source of income for the business is the harvesting of ocean-caught fish, which are sold in the local community. Letuaina has been engaged in this business for over three years and earns approximately 800 WST per month from these activities.
In 2010, Letuaina joined SPBD to gain access to financial services to help improve her living situation her and ability to engage in business activities. Letuaina has successfully repaid a previous loan of 1000 WST from SPBD, which she used to purchase a canoe. She is now requesting her second loan of 1500 WST to purchase fishing equipment, including hooks and nets. Letuaina plans to use the additional revenue generate to improve and expand her business.
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.