She runs a large house painting business and has been in this business for more than nine years.
Faasulu needs a loan to buy a second hand pick-up truck, barrels containing a variety of paint colors, brushes and rollers, a small ladder, and gloves.
She will use her profits improve her family's living standards and help with the expansion of her business. Faasulu joined SPBD in 2005 to gain access to financial services.
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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