Total loan: $1,600


Samtredia, Imereti, Georgia / Services

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A loan helped to start a beauty salon.

Maia's story

Maia is 36 years old, married, and lives with her two school-age children in the Samtredia district. Maia is jobless at the moment and the only money source for the family are small-sized money transfers from the abroad where Maia’s husband works. She has requested a small-sized loan to start up a beauty salon, as she used to work as a hairstylist and has experience in this field. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisions the provision of a business start-up and re-start-up credits with reasonable conditions for the country's vulnerable poor who do not have access to credit products since they are regarded as “high-risk borrowers” because of low income. Maia wants to rent a space and purchase the needed modern inventory for a hair care business. She will serve the customers as a stylist and generate daily income. According to her estimates, the business will be lucrative and the profits will be reinvested in the business. Maia will be able to increase her spending to satisfy their daily needs and improve their standard of living in the future.