A loan of $600 helped to purchase clothing for sale.

Iveta's story

Iveta is 44 years old and lives in the Vani District with her son. She is widowed and provided with a small pension. Iveta requested loans from local financial institutions several times for a family business start-up, but without any success. All her loan requests were rejected because of low income and the family’s poor living conditions.

Iveta earns a monthly income working in cleaning services, but it is hardly enough to buy food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Iveta requested a loan from Credo to start a family business. Her loan request was approved within the framework of a new joint initiative by Kiva and Credo. With the received credit, Iveta will trade in clothing. She plans to buy clothing from wholesalers and sell it in Vani district. The new business, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

This start-up loan program envisages providing business start-up and re-startup credits with soft conditions to country rural poor. Poor rural families do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Loan details

Lenders and lending teams

Loan details