A loan of $600 helped to purchase clothing for her start-up business.


Nino's story

Nino is a 58-year-old widow who lives alone in the Sighnaghi district. Several times, Nino has requested loans from local financial institutions for her trading business start-up, but without any success. Her loan requests were rejected each time because of her low income and poor living conditions. The only source of income for her is the small monthly income she earns by working as a cleaner locally. Nino has requested a loan from Credo to start a clothing sales business. 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 on reasonable terms for the country's rural poor who do not have access to credit products because they are regarded as “high risk borrowers” due to their low income. Nino will purchase clothes in the capital city at wholesale prices and resell them in her village for a profit. It will be hard work for Nino but, according to estimates, her business will be profitable and will increase her income. The increased profit will be reinvested in her clothing trading business to increase her stock and sales volume. Nino will be able to increase her spending to satisfy her daily needs and improve her living conditions.



Loan details


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Loan details