A loan of $500 helped to purchase clothing from wholesalers to resell.

Nino's story

Nino is 43 years old. She lives in the Chkhorotsku District with her husband and two children.

Nino had requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of her low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural business. In particular, they have 0.5 hectare of land, where 150 nut trees and 5 persimmon trees are grown. It brings hardly enough for food to a four-member family. According to Credo estimations the family belongs to the subsistence poor category.

Nino has requested a loan from Credo to start up a family business. Her loan request was approved in the frames of the 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 country rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” due to their low incomes.

With the received credit, Nino will begin trading with clothing. Nino plans to purchase clothing from wholesalers and resell it among her villagers. The new business initiative, financed with the Kiva Start-up loan, will increase the income and will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details