Total loan: $1,500


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Borjomi, Samtskhe-Javakheti, Georgia / Retail

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A loan helped to purchase kitchen utensils for starting a trading business.

Iza's story

Iza is from the small town of Borjomi. She is 39 years old, married, and lives with her husband and two sons (12 and 16 years old). Iza’s husband is a contractor soldier and gets a monthly salary. According to government estimations, the family belongs to the 'vulnerable poor' category and gets a small monthly social assistance. The income is hardly enough to cover even food and everyday expenses for the family. Iza requested a loan from local financial institutions several times for starting a trading business, but without any success. Her loan request was rejected all the time because of her low income and the lack of experience in her job, which is usually demanded by the local credit providers. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” because of low income. With the requested loan, Iza will purchase kitchen utensils and different kinds of household items in capital city open market for wholesale prices and resell them in her town for a profit. It will be hard work for Iza, but according to estimations, her business will be profitable and increase the income of the family. The increased profit will be reinvested in the trading business to increase her stock and sales volume. The family members will be able to increase their spending to satisfy their daily needs in order to improve their living conditions.