A loan of $300 helped to purchase clothing for trade.


Maya's story

Maya is from the small town of Gori. She is 25 years old, is married, and lives with her family: her husband, brother-in-law, mother-in-law, sister-in-law and 3-year-old son. Maya has requested loans from local financial institutions several times for her trading business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions. The only source of income for the family is the small monthly salaries of Maya’s husband and brother-in-law, who work as soldiers. Maya distributes cosmetics among her neighbors and has a small income. According to Credo estimations, Maya’s family belongs to the subsistence poor category. Maya requested a loan from Credo to start up a trade business of clothing sales. Her loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. Maya will purchase clothes in Tbilisi for wholesale prices and resell them in her town for a profit. It will be hard work for Maya, but according to estimations, her business will be profitable and increase the income of the family. The increased profit will be reinvested in clothing trading to increase her stocks and sales volume. The family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.



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Loan details