A loan of $3,000 helped to purchase more furniture for resale.

Lolita's story

Lolita is 32 years old. She is married and lives in the Kobuleti district with her husband and three children. The main income for Lolita is her newly started store, selling secondary furniture. It has been a profitable project, but it also needs more support to further develop. Several times, she has asked for loans from local financial institutions to develop her business, but without success. Her loan requests were rejected each time because of low income.

Lolita’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income.

With the received credit, Lolita will purchase more furniture that customers often request. She plans to increase the turnover in her trade business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Lolita will work hard, and she will be able to improve the living conditions for her family. With this loan, her family will generate enough income to access regular available credit products in the country’s capital market, in the event that they need it.

Loan details

Lenders and lending teams

Loan details