A loan of $650 helped to purchase clothes and bed-clothing for resale.

Nani's story

Nani is 52 years old and lives in the Kaspi District with her grown daughters. Several times, Nani has requested loans from local financial institutions 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 social assistance received from the local government since the family belongs to the vulnerable poor category.

Nani requested a loan from Credo to start a trade business of clothing sales. Her loan request was approved in the framework of a new joint initiative between 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.

Nani will purchase clothes and bed-clothing in Tbilisi for wholesale prices and resell them in her village for a profit. It will be hard work for Nani, but according to estimations, her business will be profitable and will increase the income of the family.

The increased profit will be reinvested in clothing trading to increase her stock and sales volume. The family members will be able to increase their spending to satisfy their daily needs and improve their living conditions.

Loan details

Lenders and lending teams

Loan details