A loan of $625 helped to purchase household goods for resale.


Sopio's story

Sopio is 32 years old and lives in the Tskaltubo District, West Georgia, with her husband, mother-in-law and three children (9, 12 and 14 years old). Sopio requested a loan from local financial institutions several times for an agricultural business start-up but without success. Her loan request was rejected because of low income and the family's poor living conditions. The family runs a small-scale agricultural business. They grow different kinds of vegetables on a family-owned plot of land. Besides that, Sopio runs a small dairy farm of a calf and two milk cows, whose milk is used in cheese products, which are sold at the local open market. In addition, Sopio works as a baker and her husband serves as a daily worker to the local farmers to earn a small monthly income. Their income is hardly enough to feed the six-member family. Sopio requested a loan from Credo to start up a trade business. Her loan request was approved through a new joint initiative of Kiva and Credo. The start-up loan program provides credit with soft conditions extended to the country's rural poor. They do not have access to mainstream credit because they are regarded as "high risk borrowers" due to low income. With the loan, Sopio will purchase different kinds of household goods and dishes at wholesale markets and sell them in her village with a price mark-up. She will take her goods to the local houses. In time, she will gain loyal customers and increase sales. The new business initiative, financed with the Kiva start-up loan will significantly increase the income of the family. Sopio will work hard and she will be able to improve the living conditions of herself and her family members.



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Loan details