Total loan: $1,700


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Gardabani, Kvemo Kartli, Georgia / Clothing

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A loan helped To purchase stock of clothes for her trading business.

Apina's story

34-year-old Apina lives in the Gardabani district with her 41-year-old husband. Apina 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 her low income and the family’s poor living conditions. The only source of the income for the family is from trading clothes. They buy clothes at the wholesale price to resell them at a mark-up among the villagers and earn a small profit. Apina requested a loan from Credo to start-up the family business. Apina 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 for rural poor people who do not have access to credit. These poor, rural people are regarded as “high-risk borrowers” because of their low income. With her credit, Apina will purchase stock of clothes for her trading business. She wants to expand the varieties of the products she has to offer a better choice of products to her clients. As Apina will have a bigger stock she will significantly decrease the expanses and increase the profits. The family will use part of the profits for reinvesting and purchasing more clothes and part to improve their living conditions.