Total loan: $600
Khashuri, Shida Kartli, Georgia / Clothing
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Natia's loan finished fundraising,
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A loan helped to begin selling used clothing.
Natia is 31 years old. She lives in the Khashuri District with her husband, three children and her parents-in-law. Her mother-in-law is provided with a retirement pension. Natia has requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected every time because of low income and the family’s poor living conditions. The only source of income for the family is a small monthly salary earned by Natia’s husband, working as a driver at a private company. It is hardly enough to pay for food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Natia requested a loan from Credo to start up a family business. She has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The Start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With this loan Natia will begin a trade selling used clothing. She plans to purchase used clothing from the wholesalers and then resell at a higher price. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.