A loan of $5,000 helped to start up a clothing store.

Lamara's story

Lamara is a 55-years-old widow and lives in Gori with her daughter. Several times, Lamara 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 lack of experience in her new business, which is usually demanded by local credit providers. The only source of income for the family is the small monthly income earned by Lamara, who is involved in a clothing trading business.

She buys clothing in Turkey and resells these items to local retailers. Lamara requested a loan from Credo to start up her own store and sell the clothing herself. 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 a 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.

Lamara will purchase clothes in Turkey for wholesale prices and resell them in her store for a profit. It will be hard work for Lamara, 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 earn some savings and buy their own house. Lamara awaits your support.

Loan details

Lenders and lending teams

Loan details