Loreta is 34 years old, married and has three children. Loreta owns & operates a business venture selling rice products in the local community. She has one year of experience in this business. Loreta needs a loan of WST 1000 to purchase sacks of rice. She plans to use the profit from her business (estimated to be 300 talas or US $125 per week) to improve her business.
Loreta joined SPBD in 2011 in order to gain access to financial services. Most of SPBD's clients are unable to borrow from commercial banks because they lack collateral. This is Loreta'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.