A loan of $500 helped to purchase clothing for resale.


Luiza's story

Luiza is 54 years old, single, and lives in Khobi district with her sister. Several times, Luiza 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 Luiza is a small monthly refugee pension from the local government. Besides, the family grows maize on the family-owned land and seasonally sells it. The sisters have 35 hens and sell, on average, 100 eggs per month. Luiza 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. Luiza will purchase clothes at wholesale prices and resell them in her village for a profit. It will be hard work for Luiza 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. Luiza 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