Total loan: $2,425
Vakhani, , Georgia / Transportation
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A loan helped to purchase a car and begin trade of fruits and vegetables.
Lali is 42 years old. She lives in the small village of Kharagauli District with her husband, two children and mother-in-law, who is provided with a retirement pension. Lali requested a loan from local financial institutions several times for her family 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. The only source of income for the family is from their agricultural activities. In particular, they have a milking cow, a calf and 2 buffaloes. Besides this they have 0.5 hectares of agricultural land, where nut trees are grown. It is hardly enough food for the family. According to Credo estimations the family belongs to the subsistence poor category. Lali requested a loan from Credo to start-up a family business. Lali 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 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 the received credit Lali will purchase a car. She plans to begin trade of fruits and vegetables. Her husband will drive the car and transport fruits and vegetables to different villages for selling. This will increase the income of their family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.