Total loan: $500
Kutaisi, Imereti, Georgia / Clothing
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A loan helped to begin a business selling clothing.
Tina is 66 years old and comes from Kutaisi District. Tina is provided with a retirement pension. She requested a loan from local financial institutions several times for business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions. Nowadays, she is without a source of income, except her small pension, which is in total 110 Laris (GEL) per month. Tina 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. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received loan, Tina will begin a business selling clothing. She plans to purchase clothing at wholesale prices and then resell it with a price mark-up among her villagers. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of Tina.