Agalelei requested a loan from SPBD, which she will use to buy a large chest freezer, a display fridge, a hanging scale, drinks, cigarettes, snacks, a sack of potatoes, onions, and a cash register. She hopes to save her profits from her sales to secure the betterment of her children's education. She became a member of SPBD in 2009 to gain access to capital for her business.
More information about this loan
This loan is part of SPBD's new SME (small and medium-sized enterprises) loan program. The goal is to serve the "missing middle," a group of borrowers that requires loan amounts too large for typical microfinance, but is still seen as too risky by commercial institutions. In addition to credit, SPBD also provides in-depth training to help entrepreneurs successfully scale their businesses.
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