100%

funded

Total loan: $3,000

Tekla

Kutaisi, Imereti, Georgia / Retail

Tekla's loan finished fundraising,
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A loan helped To open a mini-store.


Tekla's story

This is Tekla, who is 18-years-old and lives in Kutaisi. Her parents and brother live together with her. The only income for the family is her father's war veterans' pension of 122 GEL. The family belongs to the subsistence poor category, as they have no source of income and live in under the poverty level. As a result of the above mentioned situation,Tekla lacks the access to capital markets and financial institutions to obtain credit for starting a business, as they require stable income and business experience. The Start Up program created by Kiva and Credo enabled Tekla to get a loan of $3,000 to start a trading business. She will purchase stock such as snacks, chewing gums, soft drinks and other food products. She has already rented a place where the store will be located. Tekla thinks that the business will be profitable, as it is in a great location. After the general store is opened, the family will have a stable income which will enable them to cover everyday costs as well as expand the business in the future. With the support of the Start Up program, Tekla will get an opportunity to be involved in her own business and tackle the financial difficulties.