A loan of $700 helped to purchase clothing for resale.

Irma's story

Irma, 42 years old, lives in the Tskaltubo District with her daughter and grandchildren. On several occasions, Irma has requested loans from local financial institutions for her trading business start-up, but has had no success. Her loan request was rejected each time because of low income and the family’s poor living conditions.

Irma has requested a loan from Credo to start a business selling clothing. 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. Irma will purchase clothes in Tbilisi at wholesale prices and resell them in her district for a profit. It will be hard work for Irma but, according to estimations, her business will be profitable and will increase the family's income. The increased profit will be reinvested in the business to increase her stock and sales volume. 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