Total loan: $2,700
Batumi, Adjara, Georgia / Clothing
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A loan helped to start a used clothing store.
Inesa is 23 years old. She lives with her parents and grandmother in Batumi District. Inesa requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time, because of low income and the family's poor living conditions. Inesa's father serves local people as a taxi driver and gets a monthly income. Inesa's grandmother is provided with a retirement pension. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category. Inesa requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to rural poor, who do not have access to credit products, being regarded as "high risk borrowers" because of low income. With the received credit Inesa will trade with used clothing. She plans to purchase used clothing from the wholesalers and then resell it with a price markup. Inesa has a commercial space, where she plans to open her shop for used clothing. She will work there as a saleslady and will serve her clients. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family and Inesa will be able to increase the income of her family.