To earn a living, Litia owns and operates a business venture. Specifically, she sells baked goods in her local community. She explains that she has two years of experience in this business.
Litia is seeking a loan in the amount of 1,500 WST to purchase more raw ingredients that are needed to make her baked goods for her customers. She plans to use any additional profits generated from her business as a result of the loan (estimated to be 350 WST or $146 per week) to improve and expand her business.
In 2010, Litia joined SPBD to gain much-needed access to financial services. Most of SPBD's clients are unable to borrow from commercial banks, because they lack collateral. This would be Litia's second loan through 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.
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Success!! The loan was 100% repaid