Soosemea is 22 years old and unmarried. To help support herself and her family, she is starting a business venture selling breadfruit products, such as chips, in her community. Soosemea needs a loan of 1000 talas (WST) to purchase raw ingredients needed to make products for sale. She plans to use the profit from her sales (estimated to be 300 talas or US $125 per week) to financially support immediate members of her family.
Soosemea 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 Soosemea's first 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.