Salelavalu Tai Centre - Group 1
A SPBD staff member visited the village and conducted a preliminary meeting to orient them to microfinance. The first group of women attended four sessions of training and were assisted in drawing up their respective business plans. Most of the ladies have existing fishing activities. Their husbands and sons do the fishing, and the wives and daughters sell the fish in the Salelologa market, which is about 20 kilometers from the village. They are very hardworking ladies and they look forward to the loans from SPBD.
About SPBDSouth 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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid