Total loan: $1,800


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Marneuli, Kvemo Kartli, Georgia / Food

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A loan helped to purchase grocery stocks to open a grocery shop.

Luiza's story

Luiza is 26 years old. She lives in Marneuli District with her 35-year-old husband and retired parents-in-law. Several times, Luiza requested a loan from local financial institutions for a family business start-up, but without any success. Her loan request was rejected each time because of low income and her family’s poor living conditions. Luiza’s husband is working for the water company. Her father-in-law is working as a security guard at the local stone factory. They both get small monthly salaries. The family's additional income comes from Luiza’s parents-in-law's monthly pensions. Luiza requested a loan from Credo to start-up a family business. Luiza has now been approved for a loan within the framework of the 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 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 her credit, Luiza will purchase grocery stocks to open a grocery shop. She has already rented a commercial space, which is in a populous area. It will help Luiza to have a good number of clients and earn a good profit. Part of the profit will be reinvested in the same business, expanding the assortment of products in the shop. She will try to have all the necessary products that the locals need. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.