Falefoe is a 29-year-old woman who is married and has 1 school-aged child. To make a living, Falefoe owns & operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting & harvesting taro for sale. Falefoe has been engaged in this business for over 5 years and earns approximately 400 WST a month from these activities.
In 2011, Falefoe joined SPBD to gain access to financial services to help improve her living situation and ability to engage in business activities. Falefoe has successfully repaid a previous loan of 720 WST from SPBD. This previous loan was used to purchase general farm supplies & equipment. Falefoe is now requesting a new loan of 1500 WST, which will be used to purchase more farm supplies & equipment. The loan will be the 2nd loan taken out by this borrower from SPBD. Falefoe plans to use the additional revenue generated from the business to improve/expand her business.
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.