Total loan: $2,425


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Kareli, Shida Kartli, Georgia / Food

Marine's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!

A loan helped to start up a grocery store.

Marine's story

Marine is 48 years old and lives in Kareli district, with her son, daughter, daughter-in-law, an infant grandchild and her retired mother-in-law. The family runs an agricultural business and cultivates family-owned land, growing apple trees, haricot beans and onions. The harvested products are sold at the local open market. In addition, her daughter works as a teacher at the local school, and her son is a soldier. Both of them get monthly salaries. Marine requested a loan for starting up a trading business. Her loan requests were rejected each time, because she did not meet income requirements and she lacks experience in new business, which is usually demanded by local credit providers. But Marine’s loan request was approved by Credo, as part of the new joint initiative of Kiva and Credo. The start-up loan program provides credit for business start-ups and re-startups. The program extends soft conditions to the rural poor who do not have access to credit products. They are regarded as “high-risk borrowers” because of their low income. With the received credit, Marine will cover the costs of purchasing her initial inventory of basic groceries, for starting a grocery store. She plans to increase the turnover in her trade business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Marine will work hard, and she will be able to improve the living conditions for her family. With this loan, her family will generate enough income to access regular, available credit products in the country’s capital market, in the event they need it in the future.