Fonima is a very shy widow but is one of the more active savers in the SPBD programme. She joined the Centre at Tulaele in 2005. Since the husband died in 2003, she started thinking about ways of surviving with her two children and a grandmother. She got in, and her first Loan was 300 tala (US$ 120). This loan was used for purchase of stocks for her small shop. With the second loan of 500 tala (US$ 200), she also spent it on more stocks.
Fonima paid off her loan promptly and was therefore entitled to get 1,250 tala (US$ 500) on her next loan. Fonima already spent the other two loans on the stock, and with this loan she thought of renovating her small shop, so she used it to double wall the inside of the store. Fonima is excited that these loans enable her family to go on and live since her husband died.
At the end of last year, Fonima paid off her loan and got another loan amounting to 1,750 tala (US$ 700). This loan also was used to further improve her store. As we have seen in the photo taken, the store looks new and it’s just after the work done last week.
Apart from the Loans, on the other side, Fonima is one of the ladies that have a vision. This vision enables her to save the extra money. So she is done with the store but now she is looking of starting up the Elei Printing – a traditional Samoan way of printing fabrics using handcrafted stencils.
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.